Deep tech is a term used to describe innovations in artificial intelligence, machine learning, and data analytics.
It has been predicted that by 2035, the deep tech will be worth approximately $2.7 trillion in global GDP.
Deep tech is a term that was coined in 2016 by venture capitalist Bruce Cleveland for technologies such as artificial intelligence and robotics that are transforming the world of work.
The European Tech Boom is Here to Stay
The European tech scene is booming. More than 1 million people are working in the tech industry in Europe, and deep tech startups are leading the way. Europe has a long history of innovation and entrepreneurship, but this tradition has been largely overshadowed by Silicon Valley’s dominance of the global startup scene. Now, however, Europe is coming into its own with a new generation of deep tech startups leading the way.
How Europe’s Deep Tech Startups Are Creating Jobs & Innovation?
Deep Tech startups are companies that have a strong focus on science and technology. They are often solving complex problems in artificial intelligence, machine learning, robotics, genomics, and more.
The European Union is home to some of the most innovative and successful Deep Tech startups globally. These startups are creating jobs and innovation in Europe.
Some of the best Deep Tech Startups in Europe include:
– Airbus: Airbus is a global leader in aerospace manufacturing with more than 50,000 employees worldwide.
– Alphabet’s DeepMind: One of the leaders in AI research.
– Spotify: A digital music streaming service with over 140 million users worldwide.
– TransferWise: A money transfer service that has saved its customers over $1 billion.
How Europe’s Deep Tech Is Transforming Lives?
Deep tech is a term used to describe technology beyond the surface level. It can be as simple as a new way of doing something, or it can be something that affects our lives in more profound ways.
Deep tech has been around for a while, but it has only recently gained traction in the mainstream. One reason for this is because of how pervasive it is becoming – we are now seeing deep tech everywhere, from how we communicate with one another to how we get around.
What are the Drawbacks of Europe’s Deep Tech?
Here are some Drawbacks of Europe’s Deep Tech:
- The European Union is not as good at commercializing its research and development (R&D) as other regions.
- Europe’s R&D is still primarily funded by the government, whereas companies are financing a large part of it in the US.
- The EU has a higher proportion of public companies than the US.
- American firms have acquired several of Europe’s Deep Tech companies.
Conclusion: Why You Shouldn’t Ignore The European Tech Industry?
If you are an investor, you should be looking at the European tech industry. There are many reasons for this, and some of these reasons are outlined below.
First of all, Europe is the second-largest market for internet users, and this means that there is a vast potential for growth in this region. Secondly, the European tech industry has a lot of funding opportunities available to it, with over $2 billion in investments coming from venture capital firms in 2018 alone. Thirdly, there is a lot of talent available to work in this sector. This means that companies can be more selective when hiring, and they will have a higher chance of finding the best possible person for the job. Finally, as well as all these benefits, there are also many challenges faced by European tech companies.