The European Deep Tech Report 2023

In January 2021, we predicted a pivotal year for European Deep Tech. Was it?

In our 2021 report, we highlighted the huge potential for Deep Tech in Europe. Indeed, European Deep Tech had its best year with over $22B in funding, and billion dollar exits.

Since then we also saw huge breakthroughs in key segments like quantum computing (with the first 100+ qubit processor and near error-free quantum computing in silicon-based devices being proven), nuclear fusion (almost tripling the record for the amount of energy produced), space tech (Starlink providing internet coverage to Ukraine, James Webb Space Telescope, new missions to the moon), generative AI (Dall-E moving to commercial uses, Stable Diffusion text to image generative AI launch, ChatGPT reaching 1M users in 5 days) and much more.

We are still only scratching the surface

In 2021, we also pointed out the still largely unlocked potential in Europeʼs leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to support Europeʼs most promising Deep Tech startups.

A number of key questions which remain open form the centre of this year report:
- How is Deep Tech evolving? What is the state of European Deep Tech?
- Which are the emerging areas in Deep Tech?
- How can we accelerate European Deep Tech further?
- Can we unlock the potential in academia & scientific research?

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