EQT supports Europe's ambition for tech leadership

Investment firm EQT Group has voiced its support for French President Emmanuel Macron's Scale-Up Europe initiative, which aims to establish ten European technology companies valued at over EUR 100 billion by 2030. EQT CEO Christian Sinding participated in a June 2021 gathering at the Elysée Palace that brought together more than 170 leaders from Europe's technology sector.

The initiative seeks to position Europe as the world's leading technology region. EQT highlights that Europe already possesses a strong foundation for this goal, citing a deep talent pool, innovation capacity, and increasing investment. In the first half of 2021, European tech companies raised EUR 43.8 billion, surpassing the record set in 2020. The continent is also home to 166 tech unicorns, collectively valued at over USD 800 billion.

EQT has put forth several recommendations to support the initiative. These include the need for more investors with scale-up experience, increased public funding at the EU level, and the development of an ecosystem that facilitates larger funding rounds. EQT also emphasizes the importance of simplifying and accelerating the process for companies to go public in Europe, as well as leveraging Europe's head start in ESG and sustainability.

According to Sinding, while significant progress has been made, challenges such as uneven funding distribution based on gender and ethnicity remain to be addressed. EQT has spent over 25 years actively contributing to the growth and future-proofing of European companies and intends to continue playing a role in shaping Europe's digital future and ensuring its position at the forefront of technological innovation.