Better ideas, better companies
Europe’s unicorn herd is growing at record pace - with great ideas leading to high impact businesses
European tech is on a new, mission-driven path
From frontier tech to crypto and enterprise SaaS, European founders can build successful companies from Europe. A new generation of entrepreneurs is putting social and climate impact at the core of their mission. Of the total amount of funding raised by companies in our sample, only 1.3% went to teams with solely ethnic minority founders - the ecosystem is aware of the need to improve diversity and inclusion, but has much left to do to make that happen.
04.1 Fuelling better, more diverse ideas
Unlocking access for more diverse founders is still a key challenge for European tech as discrimination remains a key consideration across Europe. While the amount of funding received by female and mixed teams has increased, it has decreased as a proportion of total funding.
04.2 From ideas to gamechangers
The era of the European moonshot has arrived with deep tech companies maturing and attracting record levels of funding. From frontier tech, fintech, to open source and crypto, European tech is making great strides across the board. But there is still more to do to ensure science in university labs has a path to commercialisation - with academics citing a lack of aligned incentives.
04.3 Collective mission
European entrepreneurs want to move the needle on social and environmental challenges. But, while more is being invested in purpose-driven companies - in fact, Europe has the largest share of total capital invested in early-stage purpose-driven tech companies on a global basis- the share of total funding they receive has decreased relative to other areas. And despite a fantastic year for climate, some SDGs have not had the same level of entrepreneurial activity and company formation yet.