Rochester PR Group’s Post

Great op-ed by Saul Klein in WIRED titled: "Europe’s Innovation Ecosystem Can Make It the New Palo Alto" 🦄 Unicorns & 🐎 Thoroughbreds: While unicorns are rare $1B+ startups, Europe has 507 "Thoroughbreds" generating $100M+ annually. 🌍 New Palo Alto: A tech cluster of cities within five hours of London, like Amsterdam and Paris, is rivaling Silicon Valley. 🏢 Key Companies: Major players include Booking, ASML, Monzo, and Raspberry Pi. 💰 Funding Gap: European startups face a $30B shortfall in scale-up funding despite strong early-stage investments. 🇬🇧🇫🇷 Government Support: The UK and France are boosting tech innovation with progressive policies and more institutional investment. ⚖️ Social Inequality: Areas like Somers Town in London still struggle with inequality despite the tech boom. 🌱 Sustainable Growth: Europe is focusing on building transparent, socially responsible tech companies.

Further to Yoram Wijngaarde's takeaways and in view of #Draghi report on EU competitiveness; there is an economic opportunity for EU leaders: to boost tech innovation with government support. Done successfully in the UK and France. Europe has a focus on sustainable and responsible growth.

Up the Brummies! Exciting times for Birmingham’s tech sector! Yiannis Maos, founder of Birmingham Tech Week, predicts the West Midlands' tech industry could be worth £100 billion by 2030, driven by international investment and supporting local startups to scale. The area already leads the UK in startup creation, but there’s a push to help more of these companies scale, as under-capitalization remains a challenge. Investment in the areas tech sector has grown tenfold over the past five years, with key areas like AI expected to surge by 47% in the next five years. Hopefully a very positive sign that the West Midlands is clearly on its way to becoming a major tech hub over the next few years! https://lnkd.in/evMyaJhm #Techinvestment #Techindustry #Birmingham

I strongly believe that Europe needs a climate where companies, from startups to scaleups and beyond can thrive. Europe produces relatively few high-growth scale ups, which poses a risk to make Europe less competitive in the near future. Together we can make Europe the best Start-up hub to live and work in! KTH Innovation is member of #RiseEurope that unites leading start-up ecosystem builders from 13 European countries. We empower European start-ups to make a positive global impact. Now, with the European elections ahead, we have released a Position Paper. Here are the key topics we cover: ✔ Funding ↗ Allocate public contracts to start-ups and scale-ups: The European Union could take on a more active role as a buyer of products and services from young companies ↗ EU-Matching Funds for Deeptechs: EU matching fund mechanisms are needed to close the large funding gap for deep-tech start-ups ↗ Simplifying debt financing for start-ups: The expansion of EIB activities can lead to better financing for start-ups ↗ Match support EU acquisitions: The European Union could bolster acquisitions by matching support through regulatory incentives and funding schemes tailored to encourage cross-border investments and innovation ↗ Mobilise more risk and growth capital Existing institutional capital should be invested more in venture capital through foundations, pension funds and insurance companies, similar to the US and Canada ✔ Regulation ↗ Venture Rights: At the moment, start-ups are being held back by overloaded bureaucracy and regulations ↗ Attracting and welcoming foreign talent: The scarcity of skilled labor poses challenges for start-ups and scale-ups alike ↗ Enabling technological fields of experimentation: We aim to enable technological experimentation through the establishment of “sandboxes,” facilitating rapid testing of new technologies such as AI and innovative energy sources like fusion ✔ Common Market ↗ Online Registration for EU Entity: By implementing a simplified and user-centric online registration process for EU entities, finely tailored to the specific needs and challenges faced by start-ups, we have the unparalleled opportunity to unleash the boundless potential of entrepreneurship and innovation within the EU landscape, all achievable in under 20 minutes Find our full Postion Paper here: https://lnkd.in/dKZaXdEy #itallstartshere Kungliga Tekniska högskolan #RiseEurope ETH AI Center Imperial Enterprise Lab École Polytechnique DTU - Technical University of Denmark EnSpire Oxford Agoranov TalTech – Tallinn University of Technology Aalto University Campus Founders Beta-i • collaborative innovation • INiTS | Vienna's High-Tech Incubator HighTechXL Sting YES!Delft DCU Invent

A view of European tech in H2 2024, from Sifted shows that after a promising start to the year, European tech investments faced a sharp decline in H2 2024. While optimism reigned in H1 with €49.9 billion injected into startups, the second half brought a sobering €22.4 billion — a 55% drop and the lowest deal count since 2012. Here’s the breakdown of what went right, what faltered, and where the momentum is building: ➡Overall investment drop: 🔦 Total funding fell to €22.4 billion from €49.9 billion in H1. 🔦 Debt financing shrank dramatically from €21.2 billion to €4 billion. ➡Investment by stages: 🔎Early stage: Pre-seed, seed, and Series A dominated deal counts (84%) but only represented €7.3 billion. 🔎Late stage: Series D+ rounds saw a 56% decline in funding, pushing many late-stage startups towards debt or secondaries. 🔎Series B blues: Funding for Series B startups plummeted by 39.1%. 🔎 Which sectors took the spotlight? AI, data & dev tools, hospitality tech, and insurtech stood out. B2B SaaS closed strong (+2% funding growth). However, Climate tech (-47%), fintech (-43%), and consumer tech saw notable declines. Autonomous mobility and publishing sectors were hit hardest. 💡As Jonathan Sinclair, Head of Research, notes: “2025 needs to be the year of momentum. Let’s build where Europe excels.” Europe’s tech sector must recalibrate expectations. While comparisons to the U.S. remain unhelpful, focusing on core strengths like AI, deeptech, and climate innovation could drive sustainable growth. The cooldown is real, but perhaps this selective investment strategy is what European tech needs to build fewer, stronger global players. Many more insights ⬇ #growingtogether #angelinvestors #startups #techecosystem #letsmakitso

🌍🚀 𝗘𝘂𝗿𝗼𝗽𝗲’𝘀 𝗧𝗲𝗰𝗵 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺: 𝗔 𝗗𝗲𝗰𝗮𝗱𝗲 𝗼𝗳 𝗚𝗿𝗼𝘄𝘁𝗵 & 𝗮 𝗕𝗿𝗶𝗴𝗵𝘁 𝗙𝘂𝘁𝘂𝗿𝗲 𝗔𝗵𝗲𝗮𝗱! Europe’s tech ecosystem is soaring, and with the right investments, the future looks even brighter! 🌟 The State of European Tech 2024 report highlights the remarkable progress Europe has made. Here are some key takeaways: 🔋 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝘁𝗲𝗰𝗵 𝗩𝗖 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 is expected to reach $45B, signalling a recovery after a few years of decline. 🌍 $𝟰𝟮𝟲𝗕 𝗿𝗮𝗶𝘀𝗲𝗱 by European startups over the past decade – 10 times more than the previous decade, marking a huge leap forward. 🏙️ 𝗘𝗮𝗿𝗹𝘆-𝘀𝘁𝗮𝗴𝗲 𝗽𝗼𝘄𝗲𝗿𝗵𝗼𝘂𝘀𝗲: Europe leads globally with over 35,000 early-stage startups. However, there’s a critical funding gap in growth-stage capital, with U.S. startups more likely to secure larger funding rounds. 💰 𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝗱𝗼𝗺𝗲𝘀𝘁𝗶𝗰 𝗰𝗮𝗽𝗶𝘁𝗮𝗹: Directing European pension funds into local startups could significantly reduce dependence on foreign investment. 👥 𝟮𝟬𝗠+ 𝗷𝗼𝗯𝘀 𝗰𝗿𝗲𝗮𝘁𝗲𝗱 in Europe’s tech sector since 2015, with 3.5M now working in European-funded tech companies! 🌱 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 leads the way in Europe’s deep tech sector, though there’s a significant gap in AI funding compared to the U.S. Exciting times lie ahead for European tech. Let’s continue building on this momentum! 🚀 #TechGrowth #EuropeanTech #VentureCapital #Innovation #sustainability

Just finished the Global Ecosystem Report from Startup Genome. Here's what stands out. Europe's rising. The findings: 1. London tied for 2nd in the world (again, alongside NYC) → An 800% increase in VC over the past decade & over 100 $1bn companies 2. The Netherlands lands at 13th, with 2 new unicorns in 2024 → A nod to sectors like Life Sciences, Agri-food, and Semiconductors, as well as the Dutch Deep Tech scene and universities (+insights from Constantijn Van Oranje-Nassau) 3. Paris climbs 4 spots to 14th, now ahead of Berlin. → Home to 8,000 startups, €8.3bn VC raised in 2023, and a leading R&D hub. A strong shout-out to STATION F too. 4. Berlin ranked 15th, cited for its diversity of founders & employees → A tip of the hat to the reformed ESOP program, new government funding initiatives, and large rounds raised by both Enpal and Flink 5. Georgia’s emerging ecosystem, at the crossroads of Europe and Asia → With reference to new, strong players like 500 Eurasia operating since 2020, supporting now over 70 startups (led by Pedro Santos Vieira) Now, I know there are some strong opinions on rankings like these. But this is one of the most comprehensive reports comparing global hubs of innovation. So kudos to the team and partners for their efforts. And on Europe... Well, we've got a long way to go. But Europe's rising, and that's a good thing. What should we focus on to grow the European ecosystem? What national and cross-border activities, policies and efforts will help make Europe a better place for startups and innovation? Food for thought. Until next time. ✌🏼 #EuropeanInnovation P.S. I've linked the report in the comments. Let me know what you think. And Lisbon is mentioned, but still emerging. Let's get that moved up by next year too :)

Comparing startups in the US and EU suggests the US has been more successful. This article explores some reasons why. But, is it cultural or availability of capital? https://lnkd.in/eVATFHkn

BIG NEWS! Europe's largest-ever AI venture round was announced today, marking a milestone for UK tech – a game-changer for the AI industry and the global tech sector. Wayve, a company born and bred in the UK, is at the heart of this momentous event. How exactly did we get here? The answer lies in fostering a conducive environment 1️⃣ Innovative thinking and 2️⃣ Strong collaborations. London and Cambridge have been key in providing Wayve with a thriving tech ecosystem, access to skilled talent, smart immigration policies, funding. Not forgetting the support of like-minded entrepreneurs, agile regulation, and a forward-looking government. Moreover, the UK's top universities are continually encouraging innovation – take Wayve, an offspring of Cambridge, and Onfido, an 80x returner for the Oxford Seed Fund, as case studies. 🎓 Partnerships between startups and established corporations are vital in this journey. Wayve's initial collaborations with Ocado, DPD, and Asda provided crucial data to train their algorithms. Let's not forget the significant role played by a supportive government and a tech-savvy prime minister. For Wayve, a turning point came when the government recommended an automated vehicles bill, acting as a catalyst for fields like robotics. What next then? The UK stands on the brink of a golden opportunity – to embrace the industries of the future (AI, robotics, quantum computing, defence tech, or biotech). However, challenges such as the lack of later-stage funding and potential tax policy changes await. But the beacon that Wayve has become gives hope that we can turn these hurdles into stepping stones. Let's keep the momentum going. Let's make the UK a thriving hub for global AI technology – driving growth and encouraging entrepreneurship across the country. #AI #Tech #Innovation #UKTechnology #Wayve #Entrepreneurship

🚀 🇪🇺 Good news for European Startups: Ursula von der Leyen, the re-elected as European Commission President, promises significant support for startups. Key initiatives include: 🔹 Access to EU supercomputers for AI research and model training, bolstering Europe’s tech competitiveness. 🔹 Legislation to reduce administrative burdens for SMEs by 25%, making it easier for startups to thrive. 🔹 The appointment of a special envoy for SMEs to address their challenges directly. These efforts aim to position European startups at the forefront of innovation and growth. 🚀 For more details, check out the full article on Sifted: