Tom Wehmeier on Europe's Tech Commitment Gap and the State of European Tech Report
Key takeaways from the EU-Startups podcast interview with Tom WehmeierDealroom has a profile for this one. Try Dealroom →, Partner and Head of Intelligence at Atomico (July 2026):
From telecom to venture. Wehmeier's unconventional route into venture capital came through telecommunications, where he witnessed the emergence of 3G and internet-based calling. This taught him to recognise hype cycles, adopt a patient long-term view, and understand why established companies often struggle to respond to disruption.
Breakthroughs are underestimated. Early forecasts predicted a market of only around one million mobile phones, yet the technology eventually reached billions of users. Wehmeier argues this pattern — underestimating innovations that can fundamentally change behaviour — remains relevant for evaluating new technologies today.
Origins of the State of European Tech report. What began as a PowerPoint presentation became a major annual platform covering investment, talent, liquidity, regulation, and entrepreneurship. The report was created to address the lack of shared, evidence-based information about Europe's technology ecosystem, filling a gap between perception and reality on the ground.
Next edition themes. The upcoming report will examine progress in funding innovation, reducing regulatory friction, empowering talent, and encouraging greater risk tolerance. It will also explore technological sovereignty and resilience across energy, computing, and defence — reflecting a broadening agenda beyond traditional venture metrics.
Europe's commitment gap. Wehmeier argues that Europe suffers from a gap between political commitments and implementation. While policymakers and industry leaders may support initiatives such as EU Inc. and greater institutional investment in technology, implementation is often slowed by political deadlock. Progress therefore requires decisive leadership at both national and European levels.
Multi-audience platform. The report serves different audiences: investors focus on funding and liquidity data, while policymakers are more interested in regulation and ecosystem sentiment. By making its data downloadable, Atomico enables journalists, founders, investors, and researchers to develop their own interpretations and analysis.
Year-round engagement. The report has evolved from an annual publication into a year-round initiative involving research partnerships, newsletters, roundtables, and wider industry engagement. Atomico also experiments with new formats including synthetic audience tools, interactive Q&A features, and video content.
Twenty years of conviction. When Atomico was founded two decades ago, the idea that Europe could produce globally significant technology companies and establish venture capital as a major asset class was far from certain. Wehmeier believes the ecosystem has since exceeded expectations, while Atomico has helped place European entrepreneurship on the global map.
Transcript unavailable — summary based on the video description and key points published by EU-Startups.
