Deep tech thriving in Europe as it takes three times more investment than regular technology
Europe is a breeding ground for the development and implementation of 'Deep Tech', the technologies that prove truly transformative for companies and industries.
That's the outcome of a new report published on consultancy.co.uk, which reveals that venture capitalist investments into deep tech - including the likes of artificial intelligence, virtual reality and the Internet of Things - have outgrown overall tech startups three times over.
Wavestone, a global consultancy, investigated this difference by surveying over 100 investors and interviewing industry experts, with it quickly establishing that Europe is leading the way in investment and development.
- Monoprix set for Sarenza acquisition, digitalisation of its business takes shape
- How fintech and ecommerce can profit from Brexit
- Magazine: Business Chief, Europe edition - February issue
According to stateofeuropeantech.com, in 2017 alone the continent was expected to attract $3.5bn worth of investment into deep tech across more than 600 deals.
While the United Kingdom ranks fourth and ahead of China in the list of countries with the depth of talent needed to implement deep tech, France came out on top as the nation with most concentrated amount of talent.
"The French deep tech ecosystem benefits from a particularly strong technical talent pool and has experienced a real acceleration in terms of overall start-up activity," said Matt Turck, Managing Director at First Mark Cap.
"In addition, French entrepreneurs now display a whole different level of ambition, as they no longer want to just build a successful French or European company; rather instead they aim to build worldwide category leaders."
- Why Wipro has chosen Dubai for its APMEA headquartersLeadership & Strategy
- How Kenyan brands are disrupting using technology post-COVIDLeadership & Strategy
- Dubai vs Shanghai – the race to metaverse economy dominanceTechnology
- VMware – updating apps with the 7 Rs of modernisationTechnology