2 June 2025: The shifting European tech ecosystem rankings, the EU's new innovation strategy, fresh deep tech centers in Switzerland, and more

Welcome to the bi-weekly “Inside European Deep Tech” newsletter, compiled by Robin Wauters, founder of boutique communications agency Profoundo, board member of the European Startup Network, and formerly founding editor and CEO of Tech.eu.

Also formerly reporter at TechCrunch for a couple of years, which means the news of TechCrunch Europe basically shutting down is actually saddening me more than expected. Planning to write some words on that later.

But first things first. There are now close to 71,500 subscribers to this newsletter; I invite each and every one of you to provide feedback so I can upgrade it over time. 💪🏻

Periodic reminder that I'm always up for a chat about how to upscale your communication and media strategy, so do hit me up if you want to have a conversation.

Now, let’s get to it for newsletter issue #10; there's a lot to cover.

The EU Startup and Scaleup Strategy

In case you missed it (which would have taken a conscious effort tbh), the European Commission last week presented its proposal for a fresh strategy on all things tech startups. That this is relevant for the deep tech sector would be an understatement.

Ok, it looks and reads boring, but that's never been the Commission's strong suit. At the very least Ekaterina Zaharieva and her cabinet/team should be credited for engaging with the private sector, founders and investors directly as well as relevant organisations, as well as hosting a broad public consultation in making sure it covers what it is actually needed.

I've already commented on the launch of the plan on LinkedIn, but it bears repeating: this is as bold a plan as it will get, for better or worse, but the devil will be in the execution details. Words are but words, and action speaks a helluva lot louder.

There's really no other option than ambitious implementation to even stay in the global innovation race, let alone have a chance at effectively competing in it.

So, at least now there's a plan, and it's safe to say it's bold and ambitious - for European standards. And it will allow for the ecosystem to hold the European institutions accountable on their promises.

I won't spoil your reading fun if you haven't gone through the document yet, but basically the strategy covers five thematic priorities: innovation-friendly regulation; access to finance; faster market uptake and expansion; talent; and access to infrastructure, networks and services. There's an official Q&A if you lack the time to dive a bit deeper.

On timing: most of the proposals in the proposed strategy are due in 2026, with the European Commission to report on the implementation of its plans by the end of 2027.

Dealroom's "State of Global Tech" report

Dealroom released its 'Global Tech Ecosystem Index', benchmarking 288 tech ecosystems across 69 countries, based on elements such as investment, innovation, talent and outcomes (exits).

The momentum over in Paris led to the local ecosystem 'beating London' as Europe's top tech hub, but of course it all depends on how you look at things and which variables you allow to outweigh others. In any case, the aforementioned momentum is undeniable.

Meanwhile, the report has also thrust African cities such as Lagos, Nairobi, and Johannesburg into the global spotlight as rapidly emerging hubs of technological innovation, while giving new recognition to Central and Eastern Europe (CEE).

In my little neck of the woods, Gent made a very strong showing in the top 20.

Must-reads

• TSMC said it would establish a new chip-design center in Munich, Germany, a win for the European Union as it seeks to become more self-sufficient in the production of semiconductors.
• "Revolut CEO & founder Nik Storonsky is a bold and ambitious man. Not only does he want to make his company the #1 global bank, he also has a “side gig” revolut-ionizing Venture Capital."
• The European Space Agency has opened a ‘deep tech’ innovation centre in Switzerland, saying this should help to accelerate the uptake of research-based technologies into space applications.
• Military revolution in the shadow of the Kremlin: how Ukraine is redefining Europe’s approach to innovation
• Wired for change: A female founder’s deep tech journey
• Innovation without borders: The growth of the Western Balkan startup landscape

Insights: data, research, interviews and profiles

• Top 30: Europe’s best universities and business schools for aspiring entrepreneurs
• Cambridge cracks the code: $2.3B VC boom, deep tech surge — but diversity gaps remain
• Meet DACH and CEE’s fastest-growing climate tech startups
• Deep roots, global reach: Estonia’s tech ecosystem
• Martin Schilling's personal technology highlights observed at Deep Tech Momentum 2025
• EU backs 117 Ukrainian startups with $3.8 million in grants
• ChatGPT or Grok? Gemini or Claude?: Which AIs do which tasks best, explained.

Opinions worth reading

• Why AI hasn’t taken your job
• Carrots, as well as sticks, can encourage European tech investment
• Trump “biggest force of good for European venture”, says European VC founder
• Builder.ai collapse exposes dangers of ‘FOMO investing’ in AI
• Can geothermal startups drill Europe to clean energy independence?
• Stockholm’s second act: Why the world is watching Sweden’s AI founders
• Spain, the new frontier of European venture capital?

Selected news items

• Global VC firm Cathay Innovation, based in Paris, has closed a €1 billion multi-stage fund dedicated to AI
• Schroders has closed a $600 million fund to invest in VC funds, startups and secondaries, as the multinational British investment bank doubles down on the GenAI opportunity
• Builder.ai, once touted as a revolutionary AI startup backed by Microsoft, has collapsed into insolvency after revelations that its flagship no-code development platform was powered not by AI — but by 700 human engineers in India
• PFR Ventures, the investment arm of the Polish Development Fund (PFR), has introduced PFR Deep Tech, a fund-of-funds programme that will deploy at least €150 million into breakthrough and dual-use technologies
• Lunar Ventures launches €50 million Fund II to fuel post-AI deeptech founders across Europe and the US
• Dutch medtech Salvia BioElectronics has closed a $60 million Series B funding round to advance its MySalvia Therapy, a minimally invasive neuromodulation solution aimed at treating chronic migraine.
• Rockaway Ventures, a European investment fund under the Rockaway Capital group, has closed its second fund, Rockaway Ventures II, at nearly €55 million.
• EIF, Europe’s biggest LP, has committed €40 million to Keen in a first investment in a defence tech fund
• Bulgarian EnduroSat, a of satellite technologies and services, announced a €43 million investment led by Founders Fund
• Copenhagen-based PSV Tech, a VC firm, announced that has officially launched its second fund, PSV Tech Fund II, aimed at accelerating the growth of Nordic tech startups from inception

In other links

• Walmart heir Lukas Walton’s family office is betting big on European climate tech
• I didn't actually know CERN has a startup program - maybe you didn't either?
• UTokyo, the venture investment arm of the University of Tokyo, has signed a MOU with the University of Helsinki, a key player in Finland’s deep tech innovation landscape
• A new deep tech center at Nestlé’s System Technology Center in Switzerland, will open next year to expand the food and nutrition giant’s capabilities in areas from robots and smart coffee machines to precision nutrition
• The Netherlands is building a leading neuromorphic computing industry
• EU could pause AI Act rollout amid industry backlash: ‘It’s really toxic’
• Scotland unveils Deep Tech Supercluster
• First electric boat crosses Mediterranean, sailing from Europe to Africa
• Prague to Become the Epicenter of European Defense Innovation This Week
• Stockholm took an "important step toward a stronger, more future-ready innovation ecosystem" with the official launch of KTH Ventures
• Brabant intensifies semicon and AI collaboration with Singapore

Upcoming events in Europe for your calendar

• 2-7 June - SXSW London - London, UK 🇬🇧
• 4-5 June - ARCTIC15 - Helsinki, Finland 🇫🇮
• 4-6 June - South Summit - Madrid, Spain 🇪🇸
• 4-6 June - WMF / We Make Future - Bologna, Italy 🇮🇹
• 11-14 June - VivaTech - Paris, France 🇫🇷
• 17-18 June - Micromobility Europe - Brussels, Belgium 🇧🇪
• 19-20 June - TNW Conference - Amsterdam, The Netherlands 🇳🇱
• 2-3 July - Liftoff - Zagreb, Croatia 🇭🇷

The scrolled-all-the-way-down extras

• Why Would Someone Fake Their Run?
• The banker who caused the 1929 stock crash
• Which countries have the best, and worst, living standards?
• The CIA Secretly Ran a Star Wars Fan Site
• Still booting after all these years: The people stuck using ancient Windows computers

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