02.4 Smiles (almost) all round in European tech 2018 has seen some strong wins for the European tech ecosystem and we are resoundingly optimistic and excited by the opportunity set we see emerging. “ 2018 has seen some strong wins for the European tech ecosystem and we are resoundingly optimistic and excited by the opportunity set we see emerging. There were several large IPOs in the region signalling that the sector is maturing while still generating opportunities to partner with emerging, disruptive companies that combine market leadership, multiplying network effects and data-driven approaches to create transformative businesses. Enhanced access to early growth capital is also a hugely positive market driver, enabling more Munish Varma companies to scale rapidly while still prioritising innovation.” SoftBank Vision Fund The factors that are driving optimism around the future of European tech are many and The factors that are driving optimism around the future of European tech are many and varied. But when asked to varied. But when asked to state the most important grounds to be optimistic, respondents state the most important grounds to be optimistic, respondents gave a clear number one reason: the people that gave a clear number one reason: the people that make up the tech ecosystem make up the tech ecosystem What, if anything, makes you feel optimistic People 27% about the state of the European tech ecosystem? Growth & Momentum 25% Startup Ecosystem 11% LEGEND % of respondents European Collaboration & Diversity 11% Capital Availability 9% Tech Innovation 7% Regulation & Political Climate 6% Values & Ethics 5% 0 5 10 15 20 25 30 % of respondents Note: Source: Based on respondents that gave explicit responses only. I’m definitely more optimistic than 12 months ago. I think we’re seeing a marked shift in ambition in Europe, and crucially, that’s being matched at an investor level. “ I’m definitely more optimistic than 12 months ago. I think we’re seeing a marked shift in ambition in Europe, and crucially, that’s being matched at an investor level. What’s more, the increased cost of living and hiring competition seem to have taken the blinkers off a lot of Valley-bound entrepreneurs. This can only benefit Europe.” Rosie Dallas Fat Llama 23 In Partnership with & www.thestateofeuropeantech.com