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Hi Sifted Reader,

What does a bored monkey cartoon, a photo of an underwhelming sandwich, a flying, sword-wielding baby and Nelson Mandela's arrest warrant have in common?

Probably just one thing: you can buy them all as NFTs — or quite possibly get scammed out of millions in the process. Today, Sifted's Éanna Kelly finds out about the crypto underbelly of NFT heists, plus...

• The fastest growing German startups
• A new institute nurturing deeptech talent opens in Europe 
• What founders need to know as interest rates rise

— Kai, reporter & Amy, editor

In the world of crypto scams, NFT heists are on the rise — and last year they cost users about $2.8bn.

So, how are NFT enthusiasts being swindled out of their sometimes ludicrously expensive jpegs? 

Éanna Kelly dives into the NFT underbelly to find out.

Proving compliance is a necessary part of scaling any startup, but choosing an automated platform can be confusing. Check out Vanta's guide to the five must haves in an automated security platform to help you get started.

Get the guide here.

German startups have already snapped up €3bn in funding this year, and that means some companies are growing pretty quickly.

But which tech companies are leading the blitzscaling league table? Sifted tracked down the fastest growing startups by team size to find out.

Can you guess all 10?

The Institute for Computer Science, Artificial Intelligence and Technology — or INSAIT for those with plans for the rest of the week — is the first research facility of its kind to receive public funding in eastern Europe, and is backed by Amazon Web ServicesAWS, Google and DeepMind.

It’s part of Bulgaria’s Sofia University, and received a 10-year endowment of $100m from the Bulgarian government.

Could it plug the brain drain in the region?

Interest rates on both sides of the Atlantic are rising and founders need to understand and prepare for the changing economic environment, writes investor at OMERS Ventures, Lily Shaw.

From addressing fundraising and revenue challenges to learning to live in the new normal, here are the steps founders can take to future-proof their startups.

Europe's bioeconomy — which is any economic activity that comes from using materials from plants or animals — is on the up. Recent estimates say its turnover was €2.4tn in 2017, a 25% increase from 2008, and 17m Europeans were employed by the sector in 2019. 

But how are the region's startups looking to take advantage of the market opportunity? 

From edible insects to 3D jackets on demand, Sifted dug into the sector.

Who better to learn from than someone who's been there and done it? Here are the best columns from founders about navigating the often choppy waters of running a startup.

🥀 How not to keep getting dumped by cofounders. Serial entrepreneur and CEO of Acure.io, Nikolay Ganyushkin, shares what he learnt from being "burnt" by a whole bunch of cofounders and how you can avoid similar unpleasant experiences. Hint: get something like a founders' pre-nup.

🗑️ Bin the CEO. Here's why the three cofounders behind UK and Rwandan-based startup Hence Technologies decided to do away with the CEO, and how they managed to function without one. Is it time to ditch yours?

🎺 Build a founder brand without blowing your own horn. James Routledge, founder of mental health startup Sanctus, explains why creating a personal brand is so crucial in the early stages of a startup — and shares how you can do that without sounding like you're bragging.

💰 How to fund your startup without taking VC cash. Trinny Woodall (yep, from Trinny and Susannah) didn't go down the conventional funding route when she launched her most recent venture, Trinny London, in 2017. From selling her wardrobe to raising seed investment from family and friends, here's how she did it.

👉 And, finally, one from our very own John Thornhill. Sifted's cofounder and editorial director penned this piece in the FT last week, discussing what he's learnt in the past three years from running a media startup.

Still got a problem you need some sage counsel to solve? Write in (totally anonymously) to our agony aunts.

Sifted Member networking drinks | Paris, France | April 21

Get to know the Sifted Team and your fellow members in the French startup ecosystem over drinks and canapés at STATION F, the world's largest startup campus. It's first come, first served — so save your spot today! Not yet a member? Apply the code PARIS2022 to get 20% off.

Navigating crypto: From the studs to the duds | Online | April 20

How can you spot the difference between currency cons and crypto-kings? Our next Sifted Talks explores how startups and investors can play it safe in the crypto boom.

Amy Lewin
Editor 

Get in touch with her at amy@sifted.eu
Or tweeting at @amyrlewin

Kai Nicol-Schwarz

Reporter

Get in touch with him at kai@sifted.eu 
Or @NicolSchwarzK

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