Dealroom – The European Deep Tech Report, 2023

The report by the Dealroom - The European Deep Tech Report, 2023 highlights the great excitement and potential value in emerging technologies such as quantum computing, artificial general intelligence, new protein design solutions, nuclear fusion, and curing cancer. Artificial Intelligence alone could add $13 trillion to the global economy in the next decade. However, there is skepticism about the term "Deep Tech" due to its vague nature and a perceived focus on technology rather than commercialization and competitiveness. While the EU is heavily investing in strengthening Europe's Deep Tech ecosystem, there is concern that these efforts are not adequately supported by measures to enhance Europe's competitiveness and entrepreneurial spirit. This report aims to establish a clearer understanding of what Deep Tech really is, how Europe's ecosystem operates, its shortcomings, how it can compete, and what policy goals should be pursued. The methodology of the report takes into account that some technologies once considered deep have now become mainstream, using LLMs as an example. Therefore, certain companies that were included in previous reports may not be included in this year's report. The funding numbers in the report are extrapolated from 1 November 2023 to the end of the year, and Dealroom is the primary data provider for the report. Additional data sources and reports are referenced on each slide.