About one in every 10 European startups that have raised VC investment are also backed by an EU grant of equity financing, translating into €70bn in total VC funding since 2010.
EU-backed startups predominantly focus on physical tech sectors such as spacetech and biotech, with their share in these industries ranging from 24% to 28%.
The preliminary findings suggest that EU backing significantly improves the chances of startups successfully securing further funding, with higher graduation rates observed in later funding rounds.
Marcin Hejka highlighted that the fragmentation in Europe's tech ecosystem is rooted in technology consumption levels, with a nationalistic trend in corporate purchasing behavior posing challenges for smaller nations' startups.
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