European Tech Industry Embracing Lobbying, According to Atomico Report
Atomico, a prominent venture capital firm in Europe, has recently released its annual State of European Tech report, which highlights a significant upward trend in investments within the tech sector. However, this year’s report goes beyond mere assessment of the tech ecosystem; it serves as a piece of advocacy that reflects a broader shift in the industry. European startups and investors are increasingly turning to lobbying as a means to influence policy and drive positive change.
Tom Wehmeier, the author of the report and a partner at Atomico, emphasized the importance of leveraging insights to shape the future of the industry. The report introduces four key policy recommendations: Fix the friction, Fund the future, Empower talent, and Champion risk.
With a portfolio that includes successful European companies like Klarna, Stripe, and Supercell, Atomico is well-positioned to advocate for these recommendations. The firm’s influence extends beyond its own investments, as it aligns with other tech giants and industry associations in lobbying for policy changes at both the company and collective levels.
European tech companies are taking cues from their U.S. counterparts and traditional industries by engaging in lobbying efforts to address key issues affecting the industry. This shift is evident in initiatives such as the 28th regime proposed by EU-INC to streamline regulations for tech companies operating across multiple European countries.
As the European tech industry gains attention from policymakers, lobbying efforts are becoming more sophisticated and strategic. Atomico’s report emphasizes the importance of specific policy details, such as the distinction between regulations and directives, in shaping a conducive regulatory environment for tech companies.
While some may view tech lobbying as disconnected from everyday concerns, proponents argue that industry growth and innovation have a direct impact on society as a whole. By engaging in proactive communication and policy advocacy, European tech companies aim to build trust and credibility with stakeholders.
However, there are potential risks associated with increased lobbying activities, such as political affiliations that could alienate certain groups. Despite these challenges, the tech industry remains united in its pursuit of a more supportive regulatory framework that fosters innovation and growth.
