Venture capital firm Atomico has released its annual State of European Tech report, revealing that investment in the region is trending upward. But this year’s edition goes further than data and analysis: it doubles as a call to action, highlighting the rise of lobbying among European startups and investors.
Report author Tom Wehmeier, a partner at Atomico and head of intelligence, said the goal is no longer just to track progress but to outline clear policy directions. The report includes four core recommendations: Fix the friction, Fund the future, Empower talent, and Champion risk.
Atomico’s influence adds weight to these recommendations. Founded in 2006 by Skype co-founder Niklas Zennström, the firm has backed major European companies including DeepL, Klarna, Aiven, Supercell, Stripe, and Pipedrive. Many of these companies, following the example of Big Tech and U.S. startups, have begun investing heavily in lobbying, both internally and collectively through open letters and industry groups.
This growing political engagement aligns with ongoing conversations in Europe around competitiveness, regulation, and structural reform. Initiatives like EU-INC’s proposal for a “28th regime”, a pan-European company structure that replaces today’s patchwork of 27 national systems, have gained momentum. Broader debates echo themes from former European Central Bank president Mario Draghi’s 2024 report, which warned about Europe’s economic stagnation.
The buy-in is visible at the highest levels. For the first time, Atomico’s 2025 report includes a quote from European Commission president Ursula von der Leyen, who declared she wants “the future of AI to be made in Europe.” This attention underscores how much more sophisticated tech lobbying in Europe has become.
Atomico emphasizes that the details matter. On the 28th regime, the firm warns that whether it becomes a regulation (directly binding across the EU) or a directive (implemented differently by each member state) could determine whether the reform truly works or simply maintains the status quo.
This level of detail mirrors other lobbying efforts, such as France Digitale’s analysis of the same regime and publications from the Europe Startup Nations Alliance. But Atomico’s approach, supported by videos and stage presentations at Slush, targets both policymakers and the broader tech community.
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Even so, the movement faces challenges. Public enthusiasm for new trillion-dollar companies is limited, and advocacy groups must address skepticism. As Synthesia’s head of corporate affairs Alexandru Voica noted, distrust of the tech industry in Europe remains strong, making communications and policy work more focused on risk management than brand building.
Tech lobbying also carries political risks. Becoming too closely tied to specific parties or ideologies could spark backlash. Still, Atomico argues that Europe is at a pivotal moment, and coordinated action is essential.
“Europe effectively stands at a crossroads,” the report concludes, reflecting a sector that is increasingly aware of its political influence, and its responsibility to use it.
