What is the definition of a technological startup focused on the objective? The latest European technology state report By Atomico has collected certain data to try to answer this question in the European context. “Some say that China has all the data and that the United States has all the money. But in Europe, we have a goal, ”observed the EU competition commissioner Margrethe Vestager. In European technology, the goal has become a powerful differentiator. The European founders are not just about succeeding commercial – they try to solve some of the biggest problems in the world. This also has a commercial sense: consumers and technological talents require companies to think more than results.
It is a trend that we see more and more in smaller local ecosystems. The latest report on innovation ships by emphasizing the Bulgarian digital and technological ecosystem also said: 57% of survey participants share that having a social impact is a major objective of their organization. The three main causes on which startups are concentrated are formal and informal education (14.6%), environmental sustainability (13.9%), health care and healthy life (11.6%).
Here is what European trends look like? Data is based on technological companies supported by venture capital. There are more than 500 European technological companies that have received funding since 2005 which are attacking at least one of the UN sustainable development objectives as the basis of their mission. The ODD 13 on climate action is by far the most addressed objective, shows the data of the technological report of the state of European technology.
What impact do investors are looking for?
As 2019 has seen a huge investment peak in European technological companies that seek to solve some of the most urgent problems in humanity, Atomico has teamed up with the agreement of the intelligence platform to identify what is really interested in investors.
The data also shows that investors have supported European technological companies focused on the objective with more than $ 4 billion in capital investment in 2019, up more than six times in the past five years and taking the total cumulative invested since 2015 at almost $ 10 billion.