According to Atomico, 92% of the money invested into European start-ups went to companies with all-male founding teams.
But the research also gave an insight into tech's gender diversity problem. Atomico, which surveyed 1,200 founders for its study, said that a whopping 92% of the money invested into European start-ups went to companies with all-male founding teams. That figure was barely changed from whatshowed, and indicates very little has changed when it comes to supporting female tech entrepreneurs.
Atomico added that 63% of the venture capital investors it surveyed who were women claimed to have increased their focus on attending events with more participation from a diverse mix of founders, versus just 36% of their male counterparts. "We actually see that the burden of taking on responsibility of behavioral changes is not necessarily evenly distributed," Atomico's Wehmeier said.
Europe's tech industry also appears to be failing to represent people from different ethnic and social backgrounds. Ethnic minorities in tech claimed to experience discrimination at a much higher rate than their white peers, with 80% of black respondents who said they faced such prejudice citing race as the reason behind it.
Still, Atomico's Wehmeier hailed the ability of Europe's tech industry to compete with Silicon Valley and China. "What's happening is that all of the foundations are being put in place," he said. "We have amazing people, we've built strong, engaged communities that allow those people to come together to share their knowledge and experiences."
One particular bright spot for Europe was fintech, or financial technology. The continent's fintech industry came out on top versus other sectors, with start-ups in the space raising over $9 billion. That was on the back of late-stage deals like German banking upstart N26′s $470 million
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