How Europe can become a deep tech champion, new report from Vinnova

How Europe can become a deep tech champion, new report from Vinnova

How Europe can become a deep tech champion, new report from VinnovaImagine a Europe that can tackle climate change with groundbreaking technologies and create entirely new industries that solve problems we haven’t even imagined yet. That’s the future deep tech champion promises. A new report from Vinnova works like a roadmap to get there, but it tells us there are some roadblocks to overcome first.

Deep tech is basically super advanced technology that takes a long time and a lot of money to develop. The good news is that it can solve some of our biggest problems, like pollution or healthcare. It can also create entirely new industries in Europe, making us more competitive globally.

The problem is, Europe isn’t quite set up yet to turn these amazing ideas into reality. Right now, it’s like everyone is working on their own piece of the puzzle, but nobody is talking to each other. Researchers might have a great idea, but businesses might not be aware of it, and there might not be enough money to develop it anyway.

To fix this, the report says we need everyone to work together – researchers, businesses, investors, and even governments. We also need to make it easier for deep tech companies to get the funding they need, because these technologies take a long time to develop. Imagine needing money to build a car, but instead, you’re building a spaceship!

Another challenge is that Europe tends to be a bit cautious when it comes to trying new things. Deep tech involves some risk, but the report says the potential rewards are worth it. We need to be a bit more brave and create spaces where deep tech companies can experiment without getting stuck in red tape.

To fix this, Europe needs a major game plan. Here’s what they’re thinking:

  • Dream Team Europe: Imagine researchers, entrepreneurs, business people, investors, and even government officials working together to support deep tech ventures. This would be a powerful team!
  • Europe Inc.: Deep tech startups need a lot of money to get going. The idea is to create a giant investment fund of €100 billion to give these ventures the financial boost they need.
  • Building Bridges: Europe has amazing research facilities, but they’re often too expensive or difficult for startups to access. They’re working on making these facilities more accessible and affordable.
  • Thinking Long Term: Deep tech takes time to develop. Investors need to be patient and understand that these aren’t your typical get-rich-quick startups.
  • Taking Smart Risks: Sometimes you have to try new things to succeed. Europe wants to create a space where deep tech ventures can experiment without getting stuck in a maze of regulations.

By working together and taking calculated risks, Europe can become a champion of deep tech. This will not only create a stronger European economy, but it will also lead to a brighter future for everyone.

In this spirit EIT – The European Institute of Innovation and Technology – has launched the EIT Deep Tech Talent Initiative with the ambition to train one million Europeans skilled in deep tech by 2025. At the moment there are 101 available courses and 175 259 talents has been trained within the initiative, learn more on: 

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