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European tech ascendancy

Europe has grown from a footnote on the tech scene in the early 2000s to a global tech challenger.

Europe now attracts 20% of global VC funding, up from ~5% two decades ago. At seed stage, it even attracts a third of all global seed funding.

The European tech ecosystem has grown massively in the last decade to $2.5T in combined value. Europe now has global challengers and leaders in all new tech segments.

Europe’s expertise and strength in Fintech, SaaS and Health continue to be ripe for disruption. New sectors such as Climate are also emerging.

Fintech, Health and Enterprise Software have dominated VC funding in Europe in the last 20 years (c. 40% of all VC investing between 2003-2023).

Europe’s development means it is central in the emergence of new sectors, including in Climate Tech and all supercharged by AI.

With its university excellence and increasing diversification in unicorns, Europe is well placed to be at the centre of innovation in years to come.

Europe has all the elements to be a leader in the next 20 years of tech: an experienced VC scene, seasoned entrepreneurs formed in unicorn factories such as Spotify and Klarna, and a strong engineering and scientific talent pool. Half of the world’s top science clusters are in Europe and Europe is investing as much as China and the rest of the world combined in new technologies.


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