Technology companies in Europe are doing more than well, but they are experiencing a paradox. In fact, the Old Continent produces more emerging startups than the United States, but one in two companies must seek funding overseas in order to grow. From 2015 to today, the European sector has raised 426 billion dollars in investments and in Italy there are seven Unicorns, up from zero ten years ago. These are the data from “State of European Tech”, the report by the Atomico investment fund based on 41 European countries.
The growth of investments, employment and innovation has projected many European nations, including Italy, into a global competitive dimension. From 2015 to today, European technology companies have attracted 426 billion dollars in investments, ten times the value of the previous decade. In 2024 they are expected to raise $45 billion, confirming the previous year’s performance despite global economic instability. In terms of employment, the sector today employs 3.5 million people, a figure equal to the number of tech workers in the United States in 2020. In this scenario, Europe also stands out for sustainability: one dollar in five invested in tech is destined for green projects, double that of the United States. This, together with deeptech and artificial intelligence, represents one of the pillars of growth, with 33% of funding directed to these innovative areas. Over the last ten years, Europe has raised $94 billion in these sectors, placing it behind Asia and the United States but with a constantly growing talent pool.
Italy is also riding this transformation. Over the past decade, employment in the technology sector has increased sixfold, from 26,000 to 167,000. Investments reached 900 million dollars in 2024, compared to a total of 600 million in the decade 2005-2014. For the period 2025-2034, a jump of up to 7.7 billion dollars is expected, twelve times the previous value. Our country today has seven Unicorns (companies valued at over one billion euros): Satispay, Tatatu, ScalaPay, Kong, Technoprobe, Bending Spoon, MutuiOnline. In Southern Europe, however, it remains behind Spain, which in 2024 raised 1.4 billion dollars in investments, while Portugal and Greece stop at 100 million.
Europe is today the cradle of emerging startups: 35,000 new active tech companiesthe highest number in the world, even more than the United States. London leads the ranking of global funding hubs, followed by Berlin and Paris, both of which have entered the global top ten in the last decade.
However, one in two companies turns to the United States per growth round, where the chances of obtaining investments above 15 million dollars are double compared to Europe. This phenomenon fuels a flight of talent and capital. A limit, for a sector that is estimated to be worth 8 trillion dollars by 2034, with 20 million professionals.
