Despite the challenges of the pandemic, 2020 was a good year for European startups and technology in terms of investment. According to Atomico’s ‘The State of European Tech 2020’ report, the total investment in the European tech ecosystem is estimated to exceed a record €33.81B in 2020. When it comes to tech IPOs, this report also suggests that Europe has produced more tech IPOs than the US every year over the period from 2016 onwards, and 2020 was no different.
However, when we talk about scaling up, European companies still lag behind their American counterparts. This is according to a report by the World Economic Forum.