Europe is producing world-class deep tech — from AI and clean energy to mobility and advanced materials. Yet despite near-record funding, many startups still struggle to scale after early growth stages.

Across 102 ventures supported by the D2XCEL programme, Cohort 1 raised over €52 million in follow-on funding, while Cohort 2 is already showing early traction, with €12 million raised. Meanwhile, deep tech as a sector attracted €17.6 billion in 2025, nearly a third of all European VC investment, according to data from The Recursive.

If the problem isn’t a lack of capital or innovation, what is it? The answer lies in the ecosystems startups can, or cannot, access.

The visibility trap

For many deep-tech startups, gaining exposure is seen as a key milestone. Media coverage, events, and awards are often treated as signals of progress.

But in capital-intensive and highly regulated sectors, visibility without validation rarely translates into traction. Startups don’t just need to be seen – they need to be seen by the right people: investors who understand long development cycles, corporates willing to pilot new technologies, and partners who can support cross-border market entry. 

Without these connections, even the most promising technologies risk stalling.

“D2XCEL demonstrates that scaling deep tech in Europe is about coordinated ecosystem building. By bringing together 13 consortium partners from 8 EU countries and over 300 stakeholders, we created the conditions to provide tailored support to growth-stage startups (Series A/A+ —helping them tackle their current challenges, connect with the right investors, corporates, and partners, and translate innovation into real market traction,” says Denitsa Georgieva, Senior Manager Innovation Programmes at Tech Tour, the lead coordinator of D2XCEL.

From exposure to ecosystem integration

Fragmentation — across markets, industries, and innovation networks — remains one of Europe’s biggest barriers to scaling deep tech. Founders must navigate disconnected investor landscapes, complex regulatory environments, and limited cross-border networks.

What makes the difference is targeted, ecosystem-embedded visibility. Startups succeed when they are positioned where real decisions happen: industry-specific events, investor forums, and strategic partnerships with corporates and public actors.

“In maritime and logistics, you don’t move cargo without the right infrastructure in place. The same is true for deep tech ventures. D2XCEL built that infrastructure—the networks, the events, the trusted relationships—so that promising technologies could actually move from development to deployment,” explains Pascal Ollivier, D2XCEL founding member and President of Maritime Street.

What really drives momentum

Across 102 ventures supported through two D2XCEL cohorts, only 10% are from the CEE region, including Poland, Hungary, Romania, Bulgaria, Cyprus, and Turkey. 

But a clear pattern emerged:

Growth was strongest when visibility was directly linked to measurable progress, such as funding rounds, strategic partnerships, product validation, and market expansion. This shifts communication from promotion to proof.

The cohort companies raised over €60 million in follow-on funding after joining the programme. Some ventures, rather than competing, entered into collaborations with complementary industries; others expanded beyond European markets.

The role of structured support

Scaling deep tech requires structured, long-term support, rather than isolated interventions. 

Ventures benefited from over 485 mentoring sessions – individual, topic-specific, and ecosystem-driven – combined with access to more than 30 physical and online events connecting ventures with investors and industry partners. Mentoring was provided by experts in the field of team development, intellectual property, value proposition, internationalisation, and fundraising. 

Underpinning all of this was a consistent programme of milestone-driven communication: venture spotlights, case studies, and market roadmap reports.

This integrated approach helped startups move from fragmented exposure to recognized credibility within their sectors.

“Scaling deep tech requires more than capital – it takes structured support, strong networks, and continuous challenging and validation. Through mentoring, investor access, and cross-border collaboration, D2XCEL helped ventures move faster from technology development to investor and market readiness,” says Willem Bulthuis, D2XCEL founding member and CEO of Corporate Ventures Advisory.

Rethinking how Europe supports deep tech

As Europe continues to invest heavily in deep tech through EU programmes and VC funds, the focus is increasingly shifting from innovation creation to innovation scaling.

Europe has the talent, the technologies, and increasingly the capital. The missing piece is the infrastructure to bring it to market. Building that infrastructure, systematically and at scale, is the defining challenge for European tech in the decade ahead.