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European hardware deep tech startups now have a valuable resource at their disposal. First Momentum, a pre-seed fund specializing in technical B2B and deep tech startups, has unveiled their Deep Tech Hardware Napkin. This initiative aims to democratize knowledge and provide benchmarks on funding, team dynamics, product development, and commercialization, all tailored to the unique challenges faced by deep tech startups in Europe.

While SaaS founders can rely on Point Nine’s SaaS Funding Napkin for guidance, deep tech founders have often struggled to find similar resources. This is where First Momentum steps in, offering a comprehensive guide to help these entrepreneurs navigate their funding journey. The Deep Tech Hardware Napkin provides crucial insights into the European deep tech landscape, offering a perspective that differs significantly from the global SaaS scene.

For many first-time founders or those without an extensive network in startups and venture capital, benchmarks play a vital role. This is particularly true in the deep tech sector, where many entrepreneurs possess a strong research background but lack entrepreneurial experience. “They don’t have the data to make informed decisions or a network of experienced friends to turn to,” explains David Meiborg, general partner at First Momentum.

To create this valuable resource, First Momentum surveyed 30 deep tech venture capital firms from eight countries. By consolidating the data and insights from these industry experts, the Deep Tech Hardware Napkin provides a comprehensive overview that can empower deep tech startups throughout their growth journey.

With the release of the Deep Tech Hardware Napkin, First Momentum is bridging the information gap and equipping European deep tech startups with the knowledge necessary to secure funding, build successful teams, develop innovative products, and commercialize their technologies. This initiative marks a significant step forward in the support and growth of the European deep tech ecosystem.