The EIC Summit is over, but the work continues; Q1 2025 data on European Deep Tech; and more

Author

Robin Wauters
April 07, 2025

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

Greetings to the now 64,300+ subscribers of this newsletter - do provide feedback so I can improve it over time. You can also subscribe to this newsletter on Beehiiv by the way.

A big thank you also to those who've already reached out for information on sponsorship of this newsletter - much appreciated but too early for that. That said, I'm always up for a chat about how to upscale the communications strategies of European deep tech startups, scale-ups and investors, so do hit me up if you want to have a chat about that.

Let’s get to it for issue #6; there's a lot to cover.

EIC Summit + Stats

I was at the EIC Summit last week in Brussels, and read through the European Innovation Council's latest 'Impact Report'. After all, they are the number one deep tech investor in Europe, whether you want them to be or not.

Fact sheet visual first, summary of the main findings of the report after.

1. Overall Reach & Ambition

  • The EIC aims to strengthen Europe’s capacity in deep tech, ensuring strategic autonomy and competitive advantage in technologies like AI, quantum, biotech, and space.

  • The European Innovation Council has supported over 1,600 startups, SMEs, and researchers, with more than €2.6 billion (co-)invested.

🔹 2. Deep Tech Investment Leverage

  • EIC funding catalysed €12 billion+ in follow-on investments, a 3.7x leverage ratio—up from 2.6x in 2023.

  • EIC-backed companies were 8x more likely to secure VC funding than their peers, validating its role as a market credibility booster.

  • Notably, a growing share of this funding came from non-EU investors, suggesting the EIC is elevating EU firms to global attention.

🔹 3. Job Creation & Growth

  • 11,400+ jobs created by EIC-backed companies.

  • These roles are heavily concentrated in R&D, engineering, and advanced manufacturing—demonstrating an emphasis on high-skilled employment.

  • Nearly 70% of job creation is driven by SMEs under 10 years old, reinforcing the EIC’s focus on young innovators.

🔹 4. Contributions to EU Policy Goals

  • 61% of funded projects contribute directly to the European Green Deal—e.g., climate tech, clean energy storage, advanced materials.

  • Over 45% support Europe’s Digital Decade objectives, through areas like quantum computing, AI, and 5G infrastructure.

  • The EIC is increasingly aligning with EU strategic autonomy goals, e.g., reducing dependencies on foreign tech in semiconductors and biotech.

🔹 5. Gender & Inclusion Progress

  • About 30% of projects now include female leadership—a big jump from under 10% in 2020.

  • However, deep tech still lags on diversity, with persistent structural barriers for women in advanced science and engineering roles.

  • EIC has launched specific initiatives like the WomenTechEU program and tailored mentorship to close this gap.

🔹 6. Support Beyond Funding

  • EIC Business Acceleration Services (BAS) are increasingly seen as a key differentiator

🔹 7. Challenges Noted in the Report

  • Blended finance (grant + equity) processes still face delays, particularly on the equity component.

  • Some beneficiaries reported limited follow-up post-selection, suggesting room for stronger portfolio management.

  • Tech transfer from academia remains slow in some regions, hinting at a continued gap between invention and commercialisation.

🎯 Final Takeaways

  • The EIC is maturing into a key EU strategic tool—not just for funding, but for shaping innovation ecosystems.

  • Its ability to crowd in capital, support scale-ups, and align with EU policy goals makes it rather unique globally.

  • Areas for improvement: equity disbursement speed, follow-through support, and diversity in tech.

Data on European deep tech's Q1 2025

Now that the first quarter of this year is well behind us, I took a quick glance at the Dealroom numbers for Q1 2025 in European deep tech.

This isn't the place for deep dives, but here are a few of the big financing rounds for European deep tech ventures, and interesting new funds.

Notable funding for European deep tech startups and scale-ups

Notable new funds investing in European deep tech

More on the EIC and the ERC (and related news)

  • The European Research Council and European Innovation Council published a joint statement on 26 March, arguing that their funding of fundamental research and of technology development are EU “strengths and should be reinforced”.

  • The EIC Trusted Investor Network now unites 111 investors managing €336 billion to power European deep tech

  • In response to turmoil in US science, the European Research Council will add up to €2 million to each grant for researchers relocating to Europe

  • The Commission announced the first cohort of companies that have successfully passed the evaluation phase of the EIC Strategic Technologies for Europe Platform (STEP) Scale Up call. They will now go forward to the EIC Fund for investment decisions, subject to due diligence

  • The European Innovation Council selected 31 new projects under the 2024 EIC Pathfinder Challenges call for cutting-edge research projects to achieve breakthroughs in five strategic areas (and awarded them €116 million in total)

  • Nice data distribution analysis for the 71 companies selected in the EIC Accelerator October 2024 cut-off

  • The EIC has put out a call for applications for the selection of members of the next EIC Board

  • 2025 European Prize for Women Innovators’ winners: recognising women’s groundbreaking achievements in innovation

Must-reads

Data, research & insights

  • Green Computing in the AI era (report by Dealroom, World Fund & Ignite)

  • Europe and Israel’s Founder Factories (report by Accel and Dealroom) >> "British unicorns have supported the founding of more startups than any other European country, fresh research has found, highlighting Britain’s continued dominance in the tech sector."

  • "In 2024, the Technical University of Munich (TUM) saw more than 100 start-ups launched for the first time ever – 103 to be exact. It’s a historic milestone that not only cements TUM’s reputation as Germany’s top start-up university but also sends a clear message about the strength and future-readiness of the country’s innovation ecosystem."

  • Defence Tech Investment: Procurement Challenges, Innovation Gaps, and Transformative Change

  • DeepL plans IPO for late 2025: What’s next for German tech exits?

  • Five alternative European tech clusters that are leading the way

  • "We’re releasing the updated Project A Defence Tech Continuum. This second version dives deeper into the regulatory landscape across different categories, helping investors understand what’s feasible—and where the real opportunities lie."

  • Founders at the University of Cambridge reveals 8 new deeptech startups powering growth through science

  • Airbus CEO on Cleaner Emissions, Tariffs, Space, Defense

  • "The UK Investor Magazine was delighted to welcome Nick Kingsbury, Partner at Amadeus Capital Partners, for a deep dive into early-stage UK deeptech companies and what the upcoming introduction of the PISCES private company trading venue means for the UK’s private markets."

  • Faster, leaner, fitter: Europe’s new generation of startups

  • UK university funding crisis could shrink talent pipeline and shut down spinouts, experts warn

Upcoming events in Europe for your calendar

The scrolled-all-the-way-down extras

  • "Deep in the heart of Crete, where myth intertwines with natural wonder, stands the legendary olive tree of Vouves. For millennia, this 2,000-year-old ancient sentinel has silently witnessed the rise and fall of civilizations."

  • Why Speaking to Yourself in the Third Person Makes You Wiser

  • 'This is the information age': How Microsoft founder Bill Gates mapped out the new internet era back in 1993

  • What ‘the world’s loneliest whale’ may be telling us about climate change

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