Report: Dutch tech draws €2.64bn but falls short on scaling, prompting call for joint action
The Netherlands’ tech sector pulled in €2.64 billion in venture capital in 2025 and counts 11,301 active tech companies, but that momentum is not yet translating into international scale, according to the State of Dutch Tech 2026 report. Techleap, TNO and Invest-NL are urging the ecosystem to work together on concrete solutions during a revamped State of Dutch Tech event.
“Six years of State of Dutch Tech reveals a picture of stagnation and limited growth, which we can no longer afford,” said Constantijn van Oranje, Special Envoy at Techleap. He cited fast-moving advances in AI and shifting geopolitics as reasons the country cannot “coast along,” calling on entrepreneurs, investors, businesses, universities and government to act together.
The report highlights the scaleup ratio—the share of startups raising more than €10 million—at 21.6% in 2025. That is up from 13% in 2019 but still below the European average of 24.1%. In the United States, 52.2% of startups reach scaleup status.
“We’re world champions in knowledge and have gold in our hands with smart collaborations, but we must press ahead now so lab breakthroughs become large-scale applications and real unicorns,” said Tjark Tjin-A-Tsoi, CEO of TNO. Spin-off formation is rising, underscoring both potential and gaps.
Since 2022, 405 new spin-offs have emerged from Dutch universities and knowledge institutes—1.6 times the number in the 2012–2015 period. Even so, the report notes the Netherlands has only one university in Europe’s top 20 and remains below the European average.
Van Oranje said performance is “far below our level” and called for a clear change of course on valorisation, adding that the opportunities are known and can be targeted. Investment patterns also shifted. Dutch tech companies raised 11.5% more than in 2024, while the number of deals fell by 14.5% as capital flowed to larger, later and perceived safer rounds.
Rounds under €15 million are happening less often, making it harder for early-stage startups to secure funding. The report argues the ecosystem is geared to fast-growing digital services rather than capital‑intensive, strategic technologies; unless that changes, scaling will lag regardless of ambition or talent.
Invest-NL CEO Rinke Zonneveld said rising investment is positive but arriving later, and that suitable financing remains scarce for technologies with long development times and high capital needs. Techleap, TNO and Invest-NL say the revamped State of Dutch Tech event will focus on mobilising the broader ecosystem behind practical measures to convert the country’s strong research base and investment into globally scaling companies.