Research

Prior to the recent meltdown, venture capital had been in the midst of an unprecedented global boom. Buoyed by low-interest rates, the digital transformations precipitated by the disruptions of the Covid 19 pandemic, and the promise of emerging technologies such as blockchain and its speculative cousin “cryptocurrency,” vast sums of money have poured into the technology sector around the world. Surprisingly, Europe has also witnessed enormous growth in its venture capital and startup ecosystem. This is surprising because while Europe has long been renowned for its scientific achievements, it has traditionally faired poorly in the risk-taking, high-stakes endeavor of building technology companies through venture capital. Case in point: the underlying science of the biotechnology industry was invented by Dr. James Watson and Mr. Francis Crick ofCambridge University when they discovered the double helix structure of DNA.