State of European Tech Report Highlights Europe’s Rapid Expansion in Tech and Innovation
The 2017 “State of European Tech Report,” released today, predicts that Europe is set to receive a record $19 billion in tech investments this year. The report, prepared by Atomico and Slush and co-sponsored by Orrick and Silicon Valley Bank, is the latest evidence of Europe’s growing influence in the global tech ecosystem.
Unveiled today at the annual Slush conference in Helsinki, Finland, the report outlines five key trends based on a data-driven analysis conducted by leading venture capital firm Atomico. The report can be found here. All five trends point to the growing influence of the European technology industry:
Orrick is at the forefront of these trends, having advised on more European venture capital investments and more M&A exits globally than any other law firm this year.
“This edition of the State of European Tech Report confirms that Europe has arrived as a power broker in the global technology ecosystem,” said Chris Grew, a London-based partner in our Technology Companies Group. “Three takeaways stand out most for us from a legal perspective: the continued strong appetite for investment; the emerging view of Silicon Valley and the U.S. as a target for growth and investment, not just as an exit; and the opportunities for competitive advantage through compliance strategies across the complicated EU market. We hope that European regulators will heed the report’s call to action for proactive innovation policies in areas such as drones, autonomous vehicles and cryptocurrencies.”
The Slush conference attracts a who’s who of tech industry figures. Among others, former Vice President Al Gore will be a featured speaker at the conference. Orrick partner Charles Adams, former U.S. Ambassador to Finland, is attending the conference along with partners Chris Grew, Shawn Atkinson and Douglas Lahnborg.