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Europe's Tech Sector Learns to Lobby
19 Nov
Summary
- European tech firms increasingly engage in lobbying efforts.
- Atomico's report advocates for policy changes like 'Fund the future'.
- Lobbying aims to address distrust and foster a unified European tech market.
Europe's burgeoning tech sector is evolving beyond innovation to embrace advocacy, with venture capital firm Atomico's annual report emphasizing this trend. The firm, through its "State of European Tech" report, is now actively lobbying for policy changes crucial to the ecosystem's future. These recommendations include proposals such as "Fix the friction" and "Empower talent," aiming to streamline operations and foster growth.
This strategic pivot to lobbying aligns European startups with established practices of Big Tech and global peers. Companies are investing in public affairs and issuing collective statements to influence European institutions. Key areas of focus include advocating for a unified "28th regime" for company structures, reducing regulatory burdens, and enhancing overall competitiveness, echoing concerns raised by prominent figures like former ECB president Mario Draghi.
The European Commission's president, Ursula von der Leyen, has publicly supported ambitions for European AI leadership, underscoring the growing political attention. However, the lobbying efforts also face challenges, including potential public distrust and the risk of political entanglement. The movement aims to build a stronger, more unified European tech landscape despite these hurdles.
