Dealroom - The European Deep Tech Report 2023

The European Deep Tech Report 2023 by Dealroom highlights the growth and resilience of the deep tech sector in Europe despite recent market turmoil. In 2022, European deep tech startups raised $17.7 billion, which is a 22% decrease from the previous year, but still an impressive 60% increase from 2020. Deep tech was the second-best performing segment in Q3 and Q4 2022, after only the energy sector. Limited partners in Europe view deep tech as one of the most promising segments in venture capital. The report identifies four key emerging segments in deep tech, including Novel AI, Future of Computing, Novel Energy, and Space Tech. These segments raised $4.4 billion in 2022, double the amount raised in 2020. To accelerate the growth of European deep tech, the report recommends unlocking the unrealized potential of European universities, bridging the funding gap between early-stage investors and generalist funds, increasing VC investment in Europe, and promoting diversity and inclusion. The report emphasizes that Europe has exceptional technical talent and research to lead in the deep tech industry.