21 Nov 2019
The 2019 State of European Tech Report is Live
Thanks to our partners, Slush, our incredible data partners, and thousands of people in the region who have shared their experiences, the State of European Tech report is once again the single, most comprehensive data-driven story of European technology today.
We encourage you to explore the full report, but in case you only have a few minutes, here are five main takeaways.
- Another record year for investment into the European tech ecosystem. We are on track to surpass $110B capital invested in Europe since 2015. Three countries — the UK, Germany, and France — have seen over $10 billion cumulative capital invested since 2015.
- We got 99 problems but a Unicorn ain’t one. There are 99 VC-backed tech companies with a valuation of more than $1 billion — a unicorn — in Europe. 20 countries in Europe have at least one VC-backed unicorn.
- We surveyed more than 1,200 founders from across Europe — explore the dataset! 81% lived comfortably/met basic expenses with extra left over before founding. 21% of founder respondents self-identify as female.
- There is no material improvement in the share of capital invested in European tech companies going to diverse founding teams. $92 of every $100 invested in Europe went to founding teams that are all men. For every woman executive in tech, there are 12 men executives.
- European tech is distinguishing itself through purpose. There are more than 500 European tech companies founded since 2005 that are tackling at least one of the UN’s Sustainable Development Goals as a core part of their mission. $5.5B was invested in purpose-driven European tech companies in 2019, which represents 12.3% of total capital, more than double any previous years.