State of European Tech Report 2023

The 2023 State of European Tech report brings a comprehensive data-driven analysis of the European tech ecosystem.

The report identifies several key trends of 2023, among which:

  • Investment levels have dropped globally
  • Europe is outpacing US in new tech founders despite global slowdown
  • Ecosstem value ounces back to $3 trillion
  • Climate tech dominates overall capital flows
  • Investors are betting big on AI
  • Tech entrepreneurship has experienced a remarkable surge over the last decade
  • European tech ecosystem has witnessed an industry-wide surge in the number of new companies launched by individuals that have spun out of Europe’s billion-dollar companies
  • US startups benefit from greater access to capital

Head over to their website for the full report, which explores the European tech ecosystem in depth. This year’s State of European Tech report contains more than 150 data-driven insights, so they have curated a useful list of reading tracks, summarised below:

  • SOET for LPs
    • VCs and LPs are aligned on future challenges
    • Pension funds punching below their weight
    • LPs are actively exploring liquidity opportunities
  • SOET for Founders
    • The fundraising environment remains difficult in 2023
    • Securing access to capital and customers pose the biggest challenges
    • Founders are looking for alignment on vision from VCs
  • State of DEI
    • Women founders captured 3% of all funding in 2023
    • Non-white founders face highest barriers in fundraising
  • AI: The 2023 renaissance
    • AI takes over at Seed
    • Investors bet big on AI
    • AI talent in Europe outweighs the US
  • Slush: A spotlight on the Nordics
    • Nordic countries on track to raise $4.5B in capital, 10% of Europe’s total
    • Sweden and Norway among top 5 countries by $B+ company concentration
    • Pension funds in the Nordics are doing the heavy lifting
  • Orrick’s take on SOET
    • Bench of active European investors is deepening
    • Tech continues to draw in talent
    • Talent flywheel accelerating with unicorn alumni
  • HSBC Innovation Banking’s take on SOET
    • The market reset is a global phenomenon
    • Talent is flowing to the hardest problems
    • Ecosystem regains value to $3 trillion

Download the 2023 State of European Tech Report here.

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