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1、THE 2025EUROPEAN DEEP TECH REPORTMarch 2025Executive Summary2Deep Tech is often misunderstood.It focuses on applying scientific and engineering breakthroughs to products for the first time.It is the origin of venture capital and has historically shaped regional sovereignty by catalysing transformati

2、ve technology trends.Although more capital is typically required,most of it is invested in building IP moats rather than in advertising.Longer development timelines delay initial revenue,but once the technology matures,revenue growth often accelerates.While companies like Northvolt have made headlin

3、es,Deep Tech companies fail at rates comparable to others,albeit with a distinct risk profile that investors must understand.The exit landscape remains too immature but overall returns suggest that Deep Tech portfolios outperform conventional tech.1.DEEP TECH(MIS)CONCEPTIONSEurope has the potential

4、to be a global Deep Tech hub.It boasts top-tier research with 6 of the top 20 universities and 9 of the top 25 research institutes.While its research landscape spans across a breadth of technologies,Europe lacks the entrepreneurial,risk-taking culture.Europe should focus on select centres of excelle

5、nce like Oxford,Cambridge,ETH,EPFL or TUM.Additionally,while the US benefits from a strong founder flywheel with companies like SpaceX,Palantir,and OpenAI,Europesfounder ecosystem remains largely limited to shallow tech.2.THE EUROPEAN DEEP TECH OPPORTUNITY VC Markets:Deep Tech provides a hedge again

6、st momentum investing;in 2024,15bn flowed into Deep Techdown-28%compared to 2021 highswhile regular tech fell by-60%versus 2021.Countries:The 3 most important countries are the UK($4.2bn),France($3.0bn),and Germany($2.7bn);Deep Tech accounts for one-third of all VC money,with London,Paris,and Munich