State of European Tech

Overview
The State of European Tech is an annual data-driven report on the European technology ecosystem, first published in 2015 by London-headquartered venture capital firm Atomico in partnership with Helsinki-based startup and tech conference Slush. Its current partnership set includes HSBC Innovation Banking, Orrick and Affinity, alongside a broader group of data and industry contributors. The report is a public reference document — free to browse online with a downloadable PDF — and is a data resource rather than an award or endorsement.

Why this entity matters
The State of European Tech is a reference entity for the European technology ecosystem for four reasons. First, it is the longest-running annual public data resource on the state of European technology, providing consistent year-over-year measurement of venture-capital and growth-equity flows, valuations, exits, talent, sentiment and unicorn creation. Second, it is one of the most-cited European tech data sources in policy debate, media reporting and investor materials, and has provided the underlying data set for many of the multi-year narratives shaping European tech policy — including the European scale-up gap and the transatlantic funding differential. Third, its annual publication cadence and stable methodology make it a de facto benchmark that founders, investors, policymakers, corporates and ecosystem organisers reference when comparing years, geographies and sectors within European tech. Fourth, it is a widely-referenced structural anchor for the DACH ecosystem narrative specifically, providing external validation and calibration data for the position of Germany, Switzerland and Austria within the broader European technology picture.

Publication history and format
The State of European Tech was first published in 2015 as a joint initiative between Atomico and Slush, with the objective of producing a comprehensive, data-driven measurement of the European technology ecosystem. Since then it has been published annually by Atomico, with an evolving partnership set that has included HSBC Innovation Banking, Orrick and Affinity alongside a broader group of data partners and industry contributors on a report-year-dependent basis. Each edition is released as a free, browsable online report with a downloadable PDF companion, structured into chapters covering the capital markets (venture-capital and growth-equity investment volume, valuation trends and exit activity via IPO and M&A), the operating ecosystem (founder and operator sentiment, talent flows, diversity data), and structural themes (unicorn creation, deep-tech and climate-tech activity, and the public-market performance of European tech companies). The report also historically incorporates a large-sample survey of European founders, operators and investors, providing a sentiment and expectations layer on top of the capital-markets data. It is framed as a data resource and public reference document — inclusion of a company, investor or ecosystem in the report is a data reference, not an endorsement.

Role in the European and DACH startup and technology ecosystem
The State of European Tech occupies a distinctive position as the longest-running comprehensive annual public data resource on European technology. It is a widely-referenced benchmark for European venture capital and growth equity, for the European unicorn narrative, and for the multi-year European scale-up gap discussion, and it is one of a small number of external European-scale data sources that DACH ecosystem observers routinely use to calibrate the position of Germany, Switzerland and Austria within Europe. It sits alongside — and is complementary to — European-tech data sources from Dealroom, PitchBook, CB Insights, KfW Research, Deutscher Startup Monitor and the European Investment Fund's European Tech Champions Initiative reporting, and is often cross-referenced with those data sources in DACH-focused analysis.

Selected relationships and affiliations
Publisher: Atomico (London, United Kingdom). Original partnership (2015 first edition): Atomico and Slush. Current partner set (report-year dependent): Atomico; Slush; HSBC Innovation Banking; Orrick; Affinity, together with a broader group of data and industry contributors. Frequency: annual since 2015. Format: free online browsable report plus downloadable PDF. Related public European-tech data resources: Dealroom.co; PitchBook; CB Insights; European Investment Fund publications; Deutscher Startup Monitor; KfW Research publications on venture capital and startup financing.

Startuprad.io relevance
The State of European Tech is a T1 reference entity for Startuprad.io's European tech ecosystem and DACH-in-Europe clusters. Startuprad.io has ten tagged posts referencing the State of European Tech across a two-part founder-interview conversation on the report (audio and full versions), long-form analysis on European tech investment growth and CAGR, generational-ambitions analysis of European startups, and analysis of European regulatory hurdles and the path to a unified European tech market. The report is a recurring calibration anchor in Startuprad.io's European scale-up gap coverage and in Startuprad.io's coverage of Europe-versus-US tech-investment comparisons.

Public source context
This profile draws on the State of European Tech official website https://www.stateofeuropeantech.com , the Atomico insights section https://atomico.com/insights/ , the English-language Wikipedia entry on Atomico, HSBC Innovation Banking's public resource pages https://www.hsbcinnovationbanking.com/en/resources/state-of-european-tech , publicly-available media coverage of successive annual editions of the report, and Startuprad.io's own coverage archive summarised in the coverage section below.

Startuprad.io coverage of State of European Tech

The State of European Tech appears in the following Startuprad.io interviews, analysis, and monthly news coverage.

What We Have Learned from Atomico's State Of European Tech Survey (Audio Only) — Founder Interview
Published: 15 March 2026
Last updated: 14 August 2026
Coverage type: Interview
https://www.startuprad.io/post/what-we-have-learned-from-atomico-s-state-of-european-tech-survey-audio-only-founder-interview

What We Have Learned from Atomico's State Of European Tech Survey — Founder Interview
Published: 15 March 2026
Last updated: 14 August 2026
Coverage type: Interview
https://www.startuprad.io/post/what-we-have-learned-from-atomico-s-state-of-european-tech-survey-founder-interview

Europe's Tech Investment Growth - Global Competition: How Europe Can Sustain Its 13% CAGR in Tech Investments
Published: 07 January 2025
Last updated: 14 August 2026
Coverage type: Analysis
https://www.startuprad.io/post/global-competition-how-europe-can-sustain-its-13-cagr-in-tech-investments

Generational Ambitions in European Startups: How Europe's Startups Are Redefining Success
Published: 02 January 2025
Last updated: 14 August 2026
Coverage type: Analysis
https://www.startuprad.io/post/generational-ambitions-how-europe-s-startups-are-redefining-success

Regulatory Hurdles and Solutions: The Path to a Unified European Tech Market
Published: 30 December 2024
Last updated: 14 August 2026
Coverage type: Analysis
https://www.startuprad.io/post/regulatory-hurdles-and-solutions-the-path-to-a-unified-european-tech-market

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