Deep Tech Index 2025 (Nordic Capital)

Summary

• North America hosts 67.4% of the world-leading deep tech companies, down from 72.4% in the previous year.p.11
• Europe's share of globally leading deep tech companies increased to 18.6%, up from 13.6% in the prior index.p.11
• The USA represents 62% of all globally leading deep-tech companies, followed by the UK at 7%, Canada at 6%, and India at 5%.p.12
• Santa Clara Valley is the leading global hub with 20.4% of the top 500 companies, followed by Boston at 6.4%, New York at 6.0%, and London at 4.6%.p.5
• Each additional globally leading deep tech company per million adults corresponds to a 0.46 percentage point reduction in unemployment and a 0.78 percentage point reduction in youth unemployment.p.6

Key insights

1. Europe shows relative strength in clean tech, accounting for 34% of the world's leading companies in the sector.p.38
2. Geographic concentration is declining as the share of leading deep tech companies located in the top 5 regions fell from 44.4% to 41.2%.p.6
3. The proportion of leading deep tech companies located in multi-company clusters dropped from 84.6% to 77.8%.p.6
4. India leads Asian deep tech innovation with five urban regions hosting multiple world-leading companies: New Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad.p.21