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03 · The data

03 · The data

The company universe.

19,416 four-market technology companies, classified against the T1 / T2 Necessities. Cross-referenced against 174 four-market regulations.

The universe01 / 05

The four-market universe sits at 19,416 companies.

Every technology company trading in the four target markets, classified against the T1 / T2 screen. 174 four-market regulations frame the Necessities.

Four-market companies
19,416
Regulations mapped (global)
725
Four-market regulations
174
The screen02 / 05

One in three four-market companies meets the T1/T2 screen.

Conservative T1 / T2 classifier across the four-market universe. T1 = licence-as-barrier. T2 = compliance-demand-as-barrier.

Conservative classifier share
33.5%
Pass the T1 or T2 screen
Necessities-aligned companies
6,505
T1 (licence-as-barrier)
5,556

Classified universe (four-market): 19,416. In Necessities (T1 or T2): 6,505 (33.5%). In Necessities, seed-stage: 2,625 (13.5%).

The cohort03 / 05

The company universe across the five Necessities.

EX-15 Necessities-aligned cohort

Companies in the four-market dataset, mapped to each of the five Necessities. T1 and T2 regulation counts shown per Necessity.

Biomedical Systems 1,269 Power Systems 581 Autonomous Systems 561 Critical Materials and Supply Integrity 505 Food Security Systems 395
Sourcehmm Ventures four-market classified dataset. BasisPer-Necessity joins, four-market filter.
NecessityCompaniesT1T2
Biomedical Systems 1,269 19 1
Power Systems 581 22 8
Autonomous Systems 561 58 10
Critical Materials and Supply Integrity 505 2 6
Food Security Systems 395 16 2
The four markets04 / 05

Per-market companies, regulations, and tier detail.

Per-market and per-Necessity counts for the four-market universe. Per-market companies, regulations, and tier breakdown verified against the classified dataset.

MarketCompaniesRegulationsT1T2EnactedProjected
Australia 9,389 56 41 15 43 13
Japan 2,995 49 36 13 38 11
New Zealand 2,130 28 25 3 26 2
Singapore 4,902 41 35 6 31 10
The premium05 / 05

Cumulative funding multiple widens to 2.12x by Series D+.

T1 round-size uplift relative to unregulated peers at each stage. The cumulative funding gap is widest by Series D+.

Seed
1.12x
Series A
1.19x
Series C
1.53x
Series D+
1.42x
Cumulative pre-seed
1.09x
Cumulative Series D+
2.12x
Exit-rate multiple
2.22x
13.41% vs 6.03%

In-flight regulations 2024 to 2030: 34. Peak year: 2027. Regulations in peak year: 17.

View the full calendar →

Source datasetsColophon
  • reference_dataset_classified.csv (19,416 four-market companies)
  • regulations_comprehensive.json (725 regulations, 64 countries, 13 sectors)
  • four_market_sector_tier_breakdown.csv (174 four-market regulations)

Methodology →

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