Today sees the launch of Europe's first pan-European deeptech capital and customer acquisition marketplace by Deep Tech Momentum to help turn Europe into one of the world's leading deeptech ecosystems.
Recent statements from Mario Draghi, Robert Habeck, and Emmanuel Macron underscore that Europe needs to close the innovation gap to remain technologically sovereign.
However, Europe still lacks sufficient coordination in innovation investment, calling for a united effort focused on deeptech.
Deep Tech Momentum (DTM) was founded in 2022 by Isabelle Flanagan, and Martin Schilling to uncover Europe's greatest deeptech pioneers.
Three editions later, the event has grown tenfold, accelerating over 800 founders, facilitating more than €120 million in investments, and initiating 100 partnerships between founders and corporates across Europe.
I spoke to DTM co-founders Isabelle Flanagan, COO, and CEO Martin Schilling to find out more.
From Techstars to deeptech future
Schilling and Flanagan met in early 2022 while building the Techstars deeptech Berlin program post-Covid.
Before leading Techstars Berlin as Managing Director, Schilling worked at McKinsey and served as COO of N26. They invested in over 70 deeptech and B2B startups through the Techstars deeptech Berlin program.
Schilling asserts:
"There are so many great life sciences founders going to the US because they don't find capital customers here in Europe. Or look at defence: why did the Ukrainian army have to call Elon Musk two and a half years ago for satellite support?
Europe has the leading technology to make us tech-savvy while building global alliances with our friends."
Schilling characterises deeptech as "long innovation cycles and big capital needs."
"We have lost the consumer internet race, but this is the area where we can succeed."
According to Flanagan, their time spent at Techstars around three years saw a concentration of B2C consumer-facing apps:
"We just realised this kind of instant gratification beer to your doorstep in 10 minutes is not going to be the kind of company that improves human and planetary health."
So over the course of the three years, they made around 70 investments in B2B deeptech while consistently refining their investment thesis.
"It was kind of an evolution to see which companies are going to literally make our children's and our children's lives better, as well as like a more sustainable planet."
DTM, originally a side project of Tech Stars, garnered substantial momentum and interest. Recognising this potential, the duo decided to dedicate their full attention to it as their main focus.
What does DTM offer in practice?
(DTM supports deeptech startups in Europe by providing access to capital and customers through a marketplace built on two pillars:
- Flagship Conferences: DTM hosts two deeptech bootcamps annually.
- Digital Marketplace: DTM's online platform includes a granular database of Europe's deep technologies and a matchmaking tool for investors and high-tech corporates to identify relevant startups using AI. The platform enables curated matchmaking of deep technologies and products.
The platform focuses on key deeptech verticals most relevant to Europe. These include:
- Novel AI, including industrial applications;
- Bio Builders, encompassing Life Sciences and biopharma startups; Clean Energy;
- Smart Mobility;
- Industrial Tech in Robotics;
- Future of Computing, including quantum technology and semiconductors;
- New Space & Resilience;
- and Advanced Materials.
Schilling envisions the platform as a tool to level the playing field, ensuring talented founders have access to capital and customers regardless of their network.
Lead image: Isabelle Flanagan, COO, and CEO Martin Schilling of Deep Tech Momentum. Photo: Daniel Cati.
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