EIT Digital and Hellenic Development Bank sign memorandum of understanding to strengthen digital innovation in Europe
EIT Digital is pleased to announce the signing of a Memorandum of Understanding (MoU) with…
EIT Digital applauds the soaring growth of the European tech ecosystem, now valued at an astounding €3.5 trillion, more than doubling in value over the past five years.
The latest "European Women in VC: Beyond Returns" report, proudly sponsored by EIT Digital, highlights the significant contributions of venture capital in this journey. With over 2,400 active VC firms and the creation of 6.3 million jobs through startups, venture capital has been instrumental in fostering growth, innovation, and sustainability across Europe.
A standout finding from the report is the focus on positive impact investments. In 2023, a third of the €53 billion raised by European tech startups was directed toward positive impact startups addressing the UN Sustainable Development Goals (SDGs). The Nordic region leads this trend, with 61% of VC investment targeting impact-driven ventures.
The report also emphasizes the importance of diversity in achieving higher returns and greater impact. Women-led and co-led VC teams have demonstrated superior performance, aligning with the broader industry belief that increased diversity leads to better investment decisions and financial outcomes. A significant 87% of surveyed VCs and LPs support this view, highlighting the need for more inclusive practices within the venture capital sector.
EIT Digital, as a leading European innovation and education organisation, has been at the forefront of this growth. Our support for the "Beyond Returns" report aligns with our mission to foster digital innovation and entrepreneurial talent for a strong digital Europe.
Federico Menna "At EIT Digital, we are thrilled to witness the exponential growth of the European tech ecosystem," said Federico Menna, CEO of EIT Digital. "The insights from the 'Beyond Returns' report underscore the importance of venture capital in driving innovation, creating jobs, and fostering sustainable development. We are committed to continuing our support for initiatives that propel Europe to the forefront of the global digital economy."
Looking ahead, the report emphasizes the need for increased institutional investment in venture capital to sustain this growth trajectory. With only 0.01% of European pension fund assets currently invested in VCs, there is significant potential to unlock further innovation and societal benefits.
EIT Digital calls on stakeholders across the ecosystem to join forces in supporting venture capital initiatives that drive technological advancements and address global challenges. Together, we can build a more prosperous and sustainable future for Europe and beyond.
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