Dutch Tech CEOs Call for Government Support to Boost Innovation
Amsterdam, Thursday, 27 June 2024.
Ten CEOs of Dutch scaleups have issued a manifesto urging the government to enhance the country’s innovation climate. They argue that current conditions hinder growth in key sectors like photonics and AI, potentially impacting the Netherlands’ global competitiveness in technology.
The Manifesto’s Key Proposals
The manifesto outlines ten specific improvements that the CEOs believe are necessary to foster a more conducive environment for innovation. These include faster approval processes for new projects, better access to public infrastructure, and more robust government risk-sharing mechanisms to support scaling businesses. The CEOs argue that these changes are critical to overcoming the challenges faced by scaleups, particularly in securing financing during the crucial growth phase between startup and maturity.
Government’s Response and IBO Report
In response to these calls, the Dutch government has already taken some steps, as highlighted in a recent study by the Interdepartmental Policy Research (IBO). The report recommends increased investments in innovative scaleups and enhancing the financial capacity of Invest-NL, the Dutch state investment bank, to support larger financing rounds. The government has allocated an additional €1 billion to Invest-NL to implement these recommendations, aiming to provide more tailored financial solutions for companies and potentially deploying capital with lower return expectations to stimulate growth.
Challenges in the Tech Sector
Despite these efforts, Dutch tech CEOs continue to express concerns over the innovation climate. They highlight the difficulties in securing adequate funding and the bureaucratic hurdles that slow down progress. The manifesto emphasizes the need for a more dynamic and supportive policy framework to address these issues, particularly in high-potential areas such as photonics and artificial intelligence (AI). Without such support, they warn that the Netherlands risks falling behind in the global tech race.
Recent Successes and the Need for Continued Support
Recent events underscore the potential of Dutch tech innovation. For instance, Eindhoven-based Incooling recently won the Dutch Tech Innovator Competition 2024 for its groundbreaking two-phase cooling systems for data centers. This victory secures Incooling a place in the global final of the KPMG Global Tech Innovator competition in Lisbon. Such successes highlight the high level of innovation and entrepreneurship in the Netherlands, but also the need for sustained support to maintain this momentum.
The Role of Invest-NL and Future Prospects
The Deep Tech Fund by Invest-NL is another initiative aimed at supporting the future of critical technologies like quantum computing. However, experts argue that more funding is needed to achieve the societal impact envisioned for these technologies. The manifesto and the IBO study both stress the importance of increased government support and investment in the tech sector to foster innovation and solve societal problems in areas such as sustainability, health, and security.
Conclusion
The call to action by the Dutch tech CEOs is a clear signal to the government that more needs to be done to support the country’s innovation ecosystem. With the right policies and investments, the Netherlands has the potential to become a global leader in technology. However, achieving this goal will require a concerted effort from both the government and the private sector to create an environment where innovation can thrive.
Bronnen
- innovationorigins.com
- theadvisermagazine.com
- www.dutchnews.nl
- hollandhightech.nl
- dutchhts.nl
- hightechxl.com