Deeptech is set to drive technological change across the next decade and, according to a new report from the European Startups Project, Europe is investing at a rapid pace.
This data-driven Sifted article discusses the state of deeptech in Europe, reporting that deeptech makes up roughly a quarter of the startup ecosystem and together, the companies are valued at €150bn.
“If there is science or engineering risk in getting the idea to actually work, then it’s deep tech. If there is no science or engineering risk to making it work, then it is not deep tech.”Nathan Benaich from Air Street Capital (deeptech investor)
Freya Pratty, the author, gives an overview of the industry and a summary of market statistics, including the three most valuable sectors in European deep tech (artificial intelligence, semiconductors and virtual reality), while giving examples of companies like UiPath, Graphcor and BioNtech.