Liquidity, funding and finding customers are the main challenges for the European and Greek technology start-ups ecosystem, which nevertheless remains optimistic despite the challenges, while the American dream remains alive for most technology companies, according to Deloitte Private research for European Scale-Ups in 2024.
The fields of software, fintech, hardware, environmental technology, but also health sciences and healthcare are seeing the greatest growth especially in the Europe, Middle East and Africa (EMEA) regions. This is followed by the fields of sustainability, media and entertainment, e-commerce, communications and networking, food technology and agro-biotechnology. The research was conducted on 388 Scale-Ups from Greece, the United Kingdom, Belgium, the Netherlands and Switzerland and the aim was to highlight the challenges that the technological ecosystem faces for its development, the priorities it focuses on, the plans for its expansion but also its exit plan, its investment ambitions, the staff it needs and the level of optimism for its future development.
According to the research findings, European Scale-Ups are finding it difficult to close deals and acquire new customers, with the phenomenon being more pronounced in the UK.
Additional challenges they face are liquidity, financing as well as attracting the right “talent” to staff them. Other factors influencing the growth of emerging technology companies concern legislation, consumer demand and sustainability awareness. However, it is worth noting that the majority of Scale-Ups choose or manage to expand their activities either locally or in neighboring countries. However, the United States remains their top choice for expansion, despite the challenges arising from cultural and regulatory differences and the associated costs. The fact is, however, that promoting closer cooperation and strengthening cross-border links could significantly benefit business and boost innovation across Europe.
