British fintech Wise said this week it would shift its primary listing from London to New York, joining a growing list of firms snubbing the London Stock Exchange. UK chip designer Arm opted for a New York IPO in 2023, while food delivery giant Just Eat Takeaway quit the LSE for Amsterdam in November.  Sweden’s Klarna has confirmed plans to go public in New York, following in the footsteps of fellow Stockholm-based tech darling Spotify, which listed on the NYSE in 2018.  The draw? Bigger valuations, deeper capital, and more appetite for risk. Register Now “The US economy continues to perform far better than the EU, and valuations are simply higher for companies that can list there,” Victor Basta, managing partner at Artis Partners, told TNW.    The numbers back him up. The NYSE boasts a market cap of around $27 trillion — compared to just $3.5 trillion for the LSE.  That scale — and the deep-pocketed investors it attracts — pushed Arm to list across the pond. Wise followed for the same reason, according to CEO Kristo Käärmann.  Käärmann said the move would tap “the biggest market opportunity in the world for our products today, and enable better access to the world’s deepest and most liquid capital market.”  Beyond sheer growth potential, US investors are also known for taking bigger bets on growth-stage tech companies.   “US investors understand the whole ‘revenue-before-profit’ strategy,”  Andrey Korchak, a British serial entrepreneur, told TNW. “Meanwhile, in Europe, they often want to see revenue from day one.”  That risk aversion, Korchak believes, restricts the growth of startups. “Europe just doesn’t have the same density of tech unicorns,” he said. “And when startups here do hit that billion-dollar mark, most still prefer to list in the US.” Sean Reddington, co-founder of UK tech firm Thrive, fears that Wise’s New York listing will deepen the problems.  “Wise’s move to the US signals a worrying trend,” he said. “It threatens a ‘brain drain’ of capital and talent, making it harder for growth-stage VCs to invest in UK scaleups without a clear US exit plan.” He called for urgent government action, including providing “meaningful incentives” for tech firms to list in the UK.  “If the ultimate reward of a domestic IPO is diminished, it pushes more companies to consider relocating or listing overseas,” he said. Europe’s startup struggles will be a hot topic at TNW Conference, which takes place on June 19-20 in Amsterdam. Tickets for the event are now on sale — use the code TNWXMEDIA2025 at checkout to get 30%. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

This piece is part of our ‘Ask the Expert,’ series where experts share their insights into some of the most pressing questions facing our tech ecosystem. Sign-up for your spot on Santa Meyer-Nandi’s Ask the Expert session about ‘How to burn bright, n

European tech leaders are pushing back against high-profile VCs urging founders to work seven days a week — slamming the grindset mentality as everything from “toxic” to “childish.”  “Calling on founders to work insane hours nonstop is just bad advice,” Suranga Chandratillake, general partner at Balderton Capital and former CEO of video search engine Blinkx, told TNW. “Even sprinters don’t sprint all the time — rest and reflection is just as important as putting in the work.” His comments follow a LinkedIn post on Saturday by Harry Stebbings, podcast host and 28-year-old founder of London-based venture firm 20VC. “What European founders need to realise [is that] 7 days a week is the required velocity to win right now,” he wrote, implying that they need to match the infamous grind culture of Silicon Valley.       Martin Mignot, a partner at New York-based Index Ventures, rallied behind Stebbings. In a LinkedIn post of his own, he applauded the 9am-9pm, six days a week (illegal) work culture adopted by some tech firms in China. “Forget 9 to 5, 996 is the new startup standard,” he said.  While some echoed their views, many European tech founders and investors weren’t happy with the rhetoric. Amelia Miller, co-founder of return-to-work platform Ivee, called Stebbings’ post “unbelievably toxic.” Register Now “Only bad founders work 7 days non-stop,” she wrote. “It’s poor time management and a fast track to burnout.” Miller also said she thinks that working such long hours unfairly discriminates against parents and those with responsibilities outside the office.   Chandratillake also warned against taking advice from VCs without experience of starting and running a company. “If you’re a CEO, don’t listen to a jumped-up finance bro in a hoodie who has never done your job telling you how to do it!” he said.  The lively debate comes amid a broader conversation in European tech over whether workplace culture is holding the region back compared to the US or China.  In a podcast interview in March, Revolut boss Nik Storonsky criticised European startup entrepreneurs, saying they weren’t working hard enough and valued work-life balance too highly. Those comments followed another lively social media debate earlier this year about whether French founders lacked the “grindset” to succeed.   However, a recent survey of 128 European founders by early-stage VC firm Antler found that three-quarters of them work more than 60 hours weekly. Almost 20% of them exceeded 80 hours, challenging the notion that European founders don’t hustle.  Chandratillake said he believes that scrutinising work hours overlooks some of the real challenges founders face in Europe, such as access to late-stage financing. That said, the investor thinks there is a time and a place for the grind. “Sometimes founders have to work extremely hard and long hours, but that’s not sustainable all the time,” he said. “Building a successful company is a marathon, it takes endurance.”  European startup founders are the lifeblood of TNW Conference — and we want you there too. The tech festival takes place on June 19-20 in Amsterdam. Use the code TNWXMEDIA2025 at the ticket checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Klarna’s CEO has warned that software engineers risk being left behind in the AI era — unless they’re also business-savvy. Speaking at SXSW London, Sebastian Siemiatkowski said the talent “who have really accelerated their careers at Klarna” are “business people who have learned to code.” The reason? “They can take their business understanding and turn it into deterministic or probabilistic statements with AI.” This shift, he warned, poses a threat to engineers. “A lot of them have allowed themselves to be isolated with technical challenges only, and not been that interested in what the business actually does,” he said. His message to them was blunt: “Engineers really need to step up and make sure they understand the business.” The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Siemiatkowski’s comments add another layer to Klarna’s controversial AI transformation. In December 2023, he said advances in the field had led the buy-now-pay-later firm to freeze hiring for all roles — except engineers. A year later, he had an update: the company had stopped bringing on new staff entirely. Open job listings, however, told a different story. Klarna also recently launched a new recruitment drive to ensure customers can always speak to a human. The apparent contradiction has drawn criticism, but the company is doubling down on automation. Last year, Klarna announced that its OpenAI-powered assistant was doing the work of 700 full-time customer service agents. It also used an AI-generated version of Siemiatkowski to present its financial update — suggesting even CEOs could be automated. The 43-year-old recently claimed that AI can already do “all of the jobs” that humans can do. At SXSW London, he stressed the need to be upfront about the risks. “I don’t want to be one of the tech CEOs that are like no worries everything will be fine, because I do think there will be major implications for white collar jobs and so I want to be honest about it,” he said. Despite the gloom, Siemiatkowski still sees big opportunities for people who blend business acumen with technical skills. “That category of people will become even more valuable going forward,” he said. Big names from both AI and fintech will be speaking at TNW Conference on June 19-20 in Amsterdam. Want to join them? Well, we have a special offer for you — use the code TNWXMEDIA2025 at the ticket checkout to get 30% off. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The report, Europe’s Moonshot Moment, found that the continent has over 280 software companies generating more than €100 million in annual recurring revenue (ARR). These scaleups include the likes of Spotify, Revolut, Adyen, and Vinted. However, European software businesses that reach the €100 million ARR threshold take 15 years on average to get there. That’s five years longer than their US peers, the report found. Europe also lags in birthing software giants. While 5–10% of US firms reaching €100 million in ARR subsequently scale to €1 billion, fewer than 3% of their European peers reach that milestone. The report highlighted some of the reasons for this stalled growth: fragmented markets, conservative corporate norms, and a slower flow of late-stage capital relative to early-stage investment. Turning point? Register Now Despite the hurdles, the report’s authors are confident that all the ingredients for Europe’s success in software are now in place. “Europe already holds the essentials to create the world’s next generation of software champions: deep talent pools, vibrant founder networks, and a rapidly maturing capital base,” said Ruben Schaubroeck, senior partner at McKinsey. While Europe lost out to Silicon Valley firms like Google and Microsoft in the early internet era, emerging technologies like AI may offer a new opening for the region’s tech startups. Geopolitical shifts could also drive governments to invest in local tech ecosystems and rethink digital sovereignty, said the report. “There’s no denying that European tech has faced structural barriers, but we’re at a genuine inflection point,” Phill Robinson, CEO and co-founder at Boardwave, told TNW. “New technology arenas, geopolitics, and an evolving operating environment are creating a unique opportunity for Europe to boost innovation.” Now Europe must turn that potential into profits, the report argues. To that end, it suggests five key interventions to boost Europe’s software ecosystem: Expand late-stage funding Encourage experienced founders to start new companies Make it easier for sales and marketing teams to work across borders and help startups grow faster Encourage more large firms in Europe to buy software from European startups by offering government support or financial incentives Strengthen public-private partnerships to de-risk new technologies Scaling up European tech The McKinsey/Boardwave report comes hot on the heels of the EU’s landmark Startup and Scaleup Strategy, launched last week. The plan set out several reforms designed to remove barriers to growth for the bloc’s early-stage companies. “If implemented boldly, and most importantly quickly, it can help Europe move from fragmented success stories to systemic, continent-wide scale; otherwise, we risk being left behind,” said Robinson, commenting on the new strategy. The EU’s proposal includes provisions for a long-awaited “28th regime,” which would allow companies to operate under a single set of rules across the 27 member states. It is intended to reduce headaches around taxes, employment rules, and insolvency. Robinson said he believes the EU’s new strategy will strengthen Europe’s software ecosystem by making it easier to operate across borders. “We need to act as one innovation ecosystem, not 27 different ones,” he said. “That’s what makes this Europe’s moonshot moment. If we connect and act now, we can lead. And not just in Europe, but globally.” Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Human organs could be bioprinted for transplants within 10 years, according to Lithuanian startup Vital3D. But before reaching human hearts and kidneys, the company is starting with something simpler: regenerating dog skin. Based in Vilnius, Vital3D is already bioprinting functional tissue constructs. Using a proprietary laser system, the startup deposits living cells and biomaterials in precise 3D patterns. The structures mimic natural biological systems — and could one day form entire organs tailored to a patient’s unique anatomy. That mission is both professional and personal for CEO Vidmantas Šakalys. After losing a mentor to urinary cancer, he set out to develop 3D-printed kidneys that could save others from the same fate. But before reaching that goal, the company needs a commercial product to fund the long road ahead. That product is VitalHeal — the first-ever bioprinted wound patch for pets. Dogs are the initial target, with human applications slated to follow. Šakalys calls the patch “a first step” towards bioprinted kidneys. “Printing organs for transplantation is a really challenging task,” he tells TNW after a tour of his lab. “It’s 10 or 15 years away from now, and as a commercial entity, we need to have commercially available products earlier. So we start with simpler products and then move into more difficult ones.” Register Now The path may be simpler, but the technology is anything but. Bioprinting goes to the vet VitalHeal is embedded with growth factors that accelerate skin regeneration. Across the patch’s surface, tiny pores about one-fifth the width of a human hair enable air circulation while blocking bacteria. Once applied, VitalHeal seals the wound and maintains constant pressure while the growth factors get to work. According to Vital3D, the patch can reduce healing time from 10–12 weeks to just four to six. Infection risk can drop from 30% to under 10%, vet visits from eight to two or three, and surgery times by half. Current treatments, the startup argues, can be costly, ineffective, and distressing for animals. VitalHeal is designed to provide a safer, faster, and cheaper alternative. Vital3D says the market is big — and the data backs up the claim. Vital3D’s FemtoBrush system promises high-speed and high-precision bioprinting. Credit: Vital3D Commercial prospects The global animal wound care market is projected to grow from $1.4bn (€1.24bn) in 2024 to $2.1bn (€1.87bn) by 2030, fuelled by rising pet ownership and demand for advanced veterinary care. Vital3D forecasts an initial serviceable addressable market (ISAM) of €76.5mn across the EU and US. By 2027-2028, the company aims to sell 100,000 units. Dogs are a logical starting point. Their size, activity levels, and surgeries raise their risk of wounds. Around half of dogs over age 10 are also affected by cancer, further increasing demand for effective wound care. At €300 retail (or €150 wholesale), the patches won’t be cheap. But Vital3D claims they could slash treatment costs for pet owners from €3,000 to €1,500. Production at scale is expected to bring prices down further.  After strong results in rats, trials on dogs will begin this summer in clinics in Lithuania and the UK — Vital3D’s pilot markets. If all goes to plan, a non-degradable patch will launch in Europe next year. The company will then progress to a biodegradable version. From there, the company plans to adapt the tech for humans. The initial focus will be wound care for people with diabetes, 25% of whom suffer from impaired healing. Future versions could support burn victims, injured soldiers, and others in need of advanced skin restoration. Freshly printed fluids in a bio-ink droplet. Credit: Vital3D Vital3D is also exploring other medical frontiers. In partnership with Lithuania’s National Cancer Institute, the startup is building organoids — mini versions of organs — for cancer drug testing. Another project involves bioprinted stents, which are showing promise in early animal trials. But all these efforts serve a bigger mission. “Our final target is to move to organ printing for transplants,” says Šakalys. Bioprinting organs A computer engineer by training, Šakalys has worked with photonic innovations for over 10 years.  At his previous startup, Femtika, he harnessed lasers to produce tiny components for microelectronics, medical devices, and aerospace engineering. He realised they could also enable precise bioprinting.  In 2021, he co-founded Vital3D to advance the concept. The company’s printing system directs light towards a photosensitive bio-ink. The material is hardened and formed into a structure, with living cells and biomaterials moulded into intricate 3D patterns. The shape of the laser beam can be adjusted to replicate complex biological forms — potentially even entire organs. But there are still major scientific hurdles to overcome. One is vascularisation, the formation of blood vessels in intricate networks. Another is the diverse variety of cell types in many organs. Replicating these sophisticated natural structures will be challenging. “First of all, we want to solve the vasculature. Then we will go into the differentiation of cells,” Šakalys says. “Our target is to see if we can print from fewer cells, but try to differentiate them while printing into different types of cells.”  If successful, Vital3D could help ease the global shortage of transplantable organs. Fewer than 10% of patients who need a transplant receive one each year, according to the World Health Organisation. In the US alone, around 90,000 people are waiting for a kidney — a shortfall that’s fuelling a thriving black market. Šakalys believes that could be just the start. He envisions bioprinting not just creating organs, but also advancing a new era of personalised medicine. “It can bring a lot of benefits to society,” he says. “Not just bioprinting for transplants, but also tissue engineering as well.” Want to discover the next big thing in tech? Then take a trip to TNW Conference, where thousands of founders, investors, and corporate innovators will share their ideas. The event takes place on June 19–20 in Amsterdam and tickets are on sale now. Use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Thomas Macaulay Managing editor Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he e (show all) Thomas is the managing editor of TNW. He leads our coverage of European tech and oversees our talented team of writers. Away from work, he enjoys playing chess (badly) and the guitar (even worse). Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

While Europe races to phase out fossil fuels and electrify everything from cars to heating systems, it’s turning a blind eye to a reliable and proven source of clean energy lying right beneath our feet.  Geothermal energy offers exactly what the continent needs most: clean, local, always-on power. Yet, it only accounted for 0.2% of power generation on the continent in 2024. Something needs to change. The recent blackout in Spain, triggered by a failure in the high-voltage grid, serves as a warning shot. While solar and wind are vital pillars of decarbonisation, they’re variable by nature. Without steady, around-the-clock sources of electricity, Europe risks swapping one form of energy insecurity for another. A much bigger wake-up call came in 2022 when Russia launched a full-scale invasion of Ukraine. For years, European governments had built an energy system dependent on imports of natural gas. When that stack of cards shattered, it triggered an energy crisis that exposed the vulnerable underbelly of Europe’s power system.  The answer to these problems lies, in part, a few kilometres underground. According to the International Energy Agency, geothermal energy has the potential to power the planet 150 times over. But it’s not just about electricity — geothermal can also deliver clean, reliable heat. That makes it especially valuable in Europe, where millions of homes already rely on radiators and district heating systems, many of them still powered by natural gas. Geothermal plants also come with a smaller footprint. They require far less land than an equivalent solar farm or wind park. What’s more, the materials and infrastructure needed to build them — like drilling rigs and turbines — can be largely sourced locally. That’s a sharp contrast to solar panels and batteries, most of which are imported from China.   Geothermal energy is not theoretical. It doesn’t require scientific breakthroughs. We’ve been drilling wells and extracting energy from the Earth for centuries. The know-how exists, and so does the workforce. Decades of oil and gas exploration have built a deep bench of geologists, drillers, reservoir engineers, and project managers. Instead of letting this expertise fade, we can redeploy it to build geothermal plants. The infrastructure, such as drilling rigs, can also be repurposed for a cleaner cause. Geothermal could be the ultimate redemption arc for oil and gas. Sure, drilling deep isn’t cheap — yet. But a new crop of startups is rewriting the playbook. Armed with everything from plasma pulse drills to giant radiators, these companies could finally crack the cost barrier — and make geothermal available pretty much anywhere. Just as SpaceX disrupted a sclerotic rocket industry with its cheap launches, these startups are poised to succeed where the geothermal industry has failed.  All that’s missing is investment. While billions are being funnelled into high-risk technologies like fusion or nuclear fission reactors, funding for geothermal tech is minuscule in comparison, especially in Europe. Yet, unlike those technologies, geothermal is ready right now.   If Europe wants to achieve climate neutrality and energy sovereignty, it must stop ignoring geothermal. We need bold investment, regulatory reform, and a clear signal to industry: don’t let geothermal become a forgotten renewable. Grid failures, missed climate targets, deeper energy dependence — these are the risks Europe faces. It’s time to start drilling, before it’s too late.  Want to discover the next big thing in tech? Then take a trip to TNW Conference, where thousands of founders, investors, and corporate innovators will share their ideas. The event takes place on June 19–20 in Amsterdam and tickets are on sale now. Use the code TNWXMEDIA2025 at the checkout to get 30% off. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

Earlier this month, the father of a wealthy cryptocurrency entrepreneur was abducted in Paris while walking his dog. The attackers, wearing balaclavas, forced him into a van, later severing one of his fingers and sending a video of the mutilation to his son alongside a demand for millions of euros in ransom. The incident joined a growing list of violent crimes in France linked to crypto wealth. Victims have included a prominent entrepreneur and his wife who were held hostage, a man doused in petrol, and a child targeted in an attempted abduction. As fear spreads within France’s crypto community, some industry figures are accusing the EU’s landmark digital asset regulations of exposing holders to greater risk. Their concerns centre on the transparency requirements, which could make it easier to track down crypto owners. However, other insiders argue that the EU rules make a convenient scapegoat. Stanislas Barthélemi, president of the French crypto lobbying group ADAN, told the New York Times this week that the rules may inadvertently have put holders in danger. By creating a traceable digital footprint, he said, criminals could potentially monitor blockchain activity to identify wealthy targets. Alexandre Stachchenko, director of strategy at French crypto exchange Paymium, echoed the concern. He said the industry “wants to be discrete and anonymous,” but EU law “tells us it’s criminal.” Register Now Yet others in the industry dispute the claim that the EU’s regulations have played a role in the surge in attacks. ‘Strategic deflection’ Marit Rødevand, CEO & co-founder of Norwegian anti-money laundering firm Strise, said there was “little evidence” of a connection between the union’s rules and crypto kidnappings.  “While it is easy for champions of crypto to postulate that the increased physical attacks on those operating in the space are a product of regulations, this is both reductive and a strategic deflection away from legitimate security concerns,” she said. According to Rødevand, it is just as likely that information about potential targets was accessed through hacks, social media exposure, or publicity. Many crypto entrepreneurs are also prominent influencers.  Christopher Whitehouse, a crypto expert and solicitor at London-based law firm RPC, also made no connection. Instead, he said those holding high amounts of cryptocurrency were “obvious targets.” “The recent surge in crypto-motivated kidnappings in France is alarming but not surprising,” Whitehouse told TNW.  He noted that cryptocurrencies have several features that make them attractive for ransom. They can be transferred instantly, are difficult to trace if moved by sophisticated criminals, and lack the safeguards of traditional bank accounts. Traditional currency, in contrast, can be tracked via serial numbers.  Exploiting human vulnerability The recent violence in France, while brutal, is also not anything new. According to data compiled by crypto security advocate Jameson Lopp, over 200 physical attacks against Bitcoin and cryptocurrency holders have been reported since 2014. Some have been fatal.   Matt Green, head of blockchain technology disputes at London law firm Lawrence Stephens, contends that the violence boils down to criminals exploiting the weakest link in the crypto chain: people.    “The only thing stopping criminals [from] gaining access is human error or force, so kidnapping aims to break down the integrity of that human-led security,” he told TNW. To protect themselves, some high-wealth crypto holders have beefed up their personal security, including hiring bodyguards.  Green suggests another layer of protection: multisignature wallets, a type of crypto wallet that requires multiple users to perform certain tasks, such as making transfers.  Just as some shops display signs saying no cash is kept on premises, crypto holders would do well to make it clear that a single individual cannot access funds, Green said. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week.

Remote-controlled robots could one day build giant solar farms in space, according to a recent trial in the UK. British startup Space Solar conducted the test at the UK Atomic Energy Authority’s (UKAEA) facilities on the University of Oxford’s Culham Campus, which hosts several fusion research initiatives. The company used two remotely operated robotic arms to assemble a section of the support structure for its future solar power satellite. The device aims to beam the Sun’s energy from space to Earth.  According to Space Solar, the trial proved that robotics can assemble gigawatt-scale solar power satellites. Sam Adlen, the startup’s co-CEO, said the demonstration opens the door to all manner of in-space infrastructure projects.    “This is a milestone not just for our satellite architecture, but for the future of large-scale structures in space, from data centres to energy infrastructure,” he said. As part of its plans to build a working fusion reactor, UKAEA is developing robots for extreme industrial environments, such as maintaining future fusion power plants. The trial shows that those same machines may also show promise for cosmic applications.  Professor Rob Buckingham, executive director of UKAEA, said building fusion reactors and structures in space shared some common challenges, such as remoteness, radiation, and extreme temperatures. The demo suggests that fusion-hardened robotics could help automate the complex task of assembling vast solar farms in orbit.    A solar revolution in space? Space Solar plans to capture the Sun’s energy in space, using huge satellites equipped with solar arrays that are several kilometres long and around 20 metres wide. The probes would capture the energy via microwaves and wirelessly transmit it to dedicated receiver stations on Earth, which would convert the energy into electricity.    By 2029, Space Solar plans to commission its first 30MW demonstrator system, which would be capable of powering around 1000 homes. By the early 2030s,  the startup plans to deploy its first gigawatt-scale solar space farm. The UK Space Agency has provided grant funding for the development of the startup’s first satellite. Solar panels are theoretically capable of gathering far more energy in space than on Earth because, unhindered by the atmosphere, the intensity of sunlight is much greater. They could also beam energy from orbit 24/7, regardless of the weather on the ground.  However, space-based solar power faces many challenges. It’s currently far more expensive than ground-based solar systems — the initial development of a gigawatt-scale prototype could cost €15bn–€20bn. Then there are the potential environmental impacts. Installing a satellite of that scale could involve hundreds of separate rocket launches, contributing to atmospheric pollution.  Nevertheless, the European Space Agency (ESA), NASA, and several startups in the UK, US, China, and Japan are all working to make space-based solar a reality. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week. Also tagged with

The European Commission has unveiled ambitious plans to cut red tape and make the EU a more attractive place for tech businesses to scale.  Launched today, the EU Startup and Scaleup Strategy comes as the bloc scrambles to attract and retain tech startups amid stiff competition from the US and Asia.  Under the new initiative, the EU has laid out a five-point plan to close the gap with its rivals. It’s also in talks to deploy a public-private fund of at least €10bn under the new strategy, Reuters reports.  Here’s the lowdown: 1. Making rules less painful European startups regularly express frustrations that EU regulation holds them back. To ease that, the EU wants to create a “28th regime” — essentially a simplified legal framework for companies to operate under a single set of rules across the 27 member states. It’s meant to reduce headaches around things like taxes, employment rules, or insolvency.  There’s also a new digital ID, the European Business Wallet, scheduled for rollout during the fourth quarter of this year. The ID is meant to make it easier and faster to deal with public administrations by providing a digital identity and data exchange system that reduces paperwork and manual verification. For example, a startup using the wallet could instantly share verified credentials with a government agency, potentially skipping weeks of paperwork.    Additionally, the upcoming European Innovation Act, scheduled to come into force in 2026, will offer startups more “regulatory sandboxes” where they can safely test new ideas without tripping over outdated rules.  2. Closing the funding gap In 2024, US startups raised $178bn, more than triple the $51bn figure for European companies, according to Crunchbase.  The EU proposes three measures to close the gap.  The first is the Savings and Investments Union, designed to channel more household savings and private capital into European businesses. It aims to do this through mechanisms such as lowering the transaction costs of cross-border investments to attract more outside capital and simplifying insolvency laws to give investors greater confidence in backing a startup that might go belly up. Secondly, it plans to “expand and simplify” the European Innovation Council, the EU body that gives startups access to the funding and coaching they need to scale.  Thirdly, it looks to develop an Innovation Investment Pact, a voluntary initiative designed to entice big institutional investors to back EU funds, venture capital firms, and scaleups. It aims to do this by lowering the complexity, cost, and risks of investing in smaller funds and companies — making it easier for the big fish to fund the little guys.  Combined, the idea is to make it a lot easier for European startups to grow without relocating abroad. 3. Helping ideas leave the lab While Europe is known for world-class research, that doesn’t always translate to world-class businesses.  The EU wants to change that with a “Lab to Unicorn” initiative that connects startups with universities across Europe. The idea is to make it easier — and fairer — to turn academic research into spinouts. It will include guidance on licensing intellectual property, sharing revenue or equity, and commercialising cutting-edge research. 4. Attracting world-class talent Hiring skilled people — especially across borders — is often a major barrier for European startups.  The EU’s “Blue Carpet” plans to streamline hiring of international talent. The initiative will focus on entrepreneurial education, better employee stock options, and cross-border employment. The bloc is also pushing for a Blue Card Directive, which will encourage member states to fast-track visas for non-EU founders. If it works, startups might find it easier to build international teams, keep top talent, and relocate themselves.  5. Opening up critical infrastructure Finally, the EU wants to make it easier for startups to access high-end research labs and tech infrastructure — the kind of facilities usually reserved for big players. A new Charter of Access will aim to standardise and simplify this process, so startups can tap into these resources more easily and bring products to market faster. Ekaterina Zaharieva, European Commissioner for Startups, Research, and Innovation, said the five-point plan would “remove the barriers” holding back the region’s entrepreneurs. “The strategy will enable us to turn Europe’s wealth of creativity, research, and ambition into thriving new companies, quality jobs, and real-world impacts,” she said.   The plan signals a clear intent to boost Europe’s startup landscape. But with global rivals moving fast, much will depend on how quickly and decisively the EU turns ambition into action. Story by Siôn Geschwindt Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehic (show all) Siôn is a freelance science and technology reporter, specialising in climate and energy. From nuclear fusion breakthroughs to electric vehicles, he's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. He has five years of journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. When he's not writing, you can probably find Siôn out hiking, surfing, playing the drums or catering to his moderate caffeine addiction. You can contact him at: sion.geschwindt [at] protonmail [dot] com Get the TNW newsletter Get the most important tech news in your inbox each week.