State of European Tech 2024

The State of European Tech 2024 report, produced by Atomico in partnership with key data contributors, is a comprehensive analysis of Europe's tech ecosystem over the past decade. This special 10th anniversary edition highlights significant growth and transformation in the European tech landscape since 2015. The report reveals that European tech companies have raised $426 billion in the past decade, ten times more than in the previous ten years. It projects European companies to secure around $45 billion in investment in 2024, consistent with 2023 levels. The study examines three key pillars of the tech ecosystem: talent, capital, and ambition. Notable findings include a sevenfold increase in the tech workforce to 3.5 million people, with 2.9 million jobs created since 2015, matching the U.S. growth rate. The report also emphasizes Europe's focus on sustainability, with 21% of investments directed towards building a more sustainable future, and highlights the continent's potential in deeptech and AI. While celebrating progress, the report also addresses challenges such as the need for more growth-stage ecosystem development and improved gender equality in funding.