TECH

Increased investment, but little diversity: thus the year ends the technological sector in Europe

As every year, the balances begin to analyze the state of each relevant aspect in the country. In this case, and after the annual report of Atomico, it is the turn of the state of investment within the entrepreneurial sector in Europe.
It has been a turbulent year in which all member countries have faced a slowdown in economic growth - rising since the end of the crisis - and the management of divorce, more or less friendly, with the United Kingdom. Everything seemed to push a global halt in all sectors. The reality is that the technology sector, according to Atomico data, enjoys unbeatable health. Growing at a rate five times faster than other economic sectors, investment focused on the technological development of companies in Europe has been a major focus of funds. Coming from the meager $ 5 billion investment in 2013, the continent now manages an average of $ 23 billion annually.
Far from the situation in Silicon Valley or Israel, the fact is that the gradual evolution of entrepreneurship in Europe is reaching signs of maturity. Spotify's stock-taking in April this year, which valued the company at more than 23,000 million dollars, in addition to the inclusion of another 17 unicorns to the European history indicated certain improvements in the ecosystem.
Only with a unicorn, Cabify, within the territory, the case of Spain is also remarkable within the history of Atomico. The transport company that competes with Uber in the same field, and has spent a complicated year as far as legislative issues with the taxi are concerned, maintains its position in the financial valuation. The report, as well, highlights the activity of LetGo. Wallapop's partner for its expansion through the United States through a subsidiary - which has recently been known to have been 100% owned by the latter - has its legal seat in the United States, but is still considered case of success of the ecosystem in Spain. Glovo or Wallapop himself, would be another of the highlights on the list. In total, $ 724 million through the third quarter of 2018, which make up a figure never seen before in Spain supported, to a large extent, by a greater number of foreign funds focusing on Spain and greater activity of national angels. They also analyze the growth of the developer community in the country, which aims to be an insurance to boost the technological economy in a few years.
In any case, it has not only been investment year. Also purchases by large technology in the country have formed a new paradigm for the sector. Although it is true that years before there had been interesting purchases in the country - taking the example of La Nevera Roja or Privalia - 2018 was the star year: AlienVault, Aplazame or PromoFarma are just some of the cases that have been seen throughout the year.
A 2018 that, independently of the political situation of the member countries, is being only the tip of the iceberg in Europe for the technological ecosystem, according to Atomico. They also assume that there are still some fringes to be polished: one of the biggest challenges, according to surveys, is to ensure diversity in technology companies and funds. H. T.