State of European Tech 2024: A Word from Orrick

1 minute read | November.19.2024

The 2024 State of European Tech report showcases a remarkable decade of growth and maturation. With a talent pool expanding at 24% annually and a tenfold rise in venture financing since 2015, Europe has turned tech and innovation into an economic pillar.

A few takeaways from this year’s report:

Talent Boom – Europe’s tech workforce has soared to 3.5 million and is on track to match the U.S. in five years. There’s been a clear shift toward entrepreneurship, with seven times more talent now working in venture-backed firms than in 2015.
Capital Surge – Since 2015, $426 billion in venture capital has been deployed to Europe, and 2024 is on track to be a $45 billion year. With growing support from European pension funds, even more capital may come online.
Sector Strength – Europe’s tech landscape is diversified, from AI to fintech to climate tech. More than 20% of funding goes to sustainability-focused companies—double the U.S. share. In fintech, always a European strength, 17% of 2015 Seed-stage companies have reached a 6th round of financing since.
Scaling Potential – With over 35,000 startups and a remarkable unicorn count, there’s huge untapped potential for investors ready to address the growth-stage funding gap. Pro-innovation regulatory schemes can only help.

We’re honored to partner with Atomico to bring you this report, in addition to a first-of-its-kind documentary capturing the evolution of Europe’s tech ecosystem, and look forward to continuing to play a leading role in this ecosystem’s next decade. We can only imagine what AI-powered innovations are around the corner.

Read the full report

state of european tech 2024 | orrick & atomico

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Shawn Atkinson Partner, Mergers & Acquisitions, Technology Companies Group

London

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D:+44 20 7862 4715
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Practice:

Technology & Innovation Sector
Mergers & Acquisitions
Technology Companies Group
Fintech

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Shawn Atkinson Partner

London

In addition to sheer volume of deals, Shawn's incomparable market insight stems from his leadership roles at Orrick, the only global firm focused on technology, and his experience working throughout the UK & Europe, North America and Asia. Shawn leads Orrick's London Corporate practice, its Global Emerging Markets practice and co-leads the Global Fintech team and the Global Technology Companies Practice Group. These complement his practice serving public and private companies in UK multi-jurisdictional and complex corporate transactions, including countless acquisitions and disposals, cross-border mergers, bankruptcy infused asset sales, recapitalisations and reorganisations. He is also a recognised leader in late stage venture transactions and in early stage private equity transactions in Europe and the emerging markets.

Shawn also advises early stage businesses across a number of sectors – including insurtech, Fintech, Crypto, SaaS, EdTech, HRTech, Marketplace and EnergyTech. He assists them from incorporation through to M&A exit, initial public offerings and other growth opportunities. His participation in the private equity and venture capital sector spans his entire career - with time spent in private practice, in-house and advising investors as well as investor-backed businesses-and affords him a deep knowledge and understanding of the industry and client needs and expectations.

Among the leading investment funds he has represented are ABN Amro Ventures, Acton Capital Partners, ABRY Partners, Accel Partners, Apax Partners, Bain Capital, Balderton Capital, Battery Ventures, Beringea, Bessemer Venture Partners, Black Pearls VC, Black Sheep Ventures, BMWi Ventures, Coatue Management, Columbia Capital, CommerzVentures, Evolvence, FTV Capital, Golden Gate Capital, Stepstone Group, Headway Capital Partners, Innova Capital, Kinnevik, KPS Capital Partners, Marlin Equity Partners, Mangrove Capital Partners, M/C Partners, One Peak, Oxx, Pearson Ventures, Piper Private Equity, Piton Capital, Salesforce Ventures, Sprints Capital, Summit Partners, Updata Partners, VNV Global and VEF.