Belgium’s technology sector is rapidly growing, but questions remain about its ability to match its European neighbours.
In six months of 2024, Belgian tech companies secured over €500 million in investments, yet challenges persist.
The Belgian tech sector has seen a significant increase in investments, with over €500 million secured in the first half of 2024. This marks a notable rise from the previous year, demonstrating the sector’s growing appeal to investors. Despite this progress, Belgium still trails behind its European counterparts in terms of capital invested per capita, suggesting room for further enhancement.
Artificial Intelligence is now a dominant force in Belgian tech investments, attracting over 70% of the capital in 2024. This shift from previous years highlights the country’s innovative spirit, with companies like TechWolf and Robovision leading the charge. Insights from a recent survey reveal that 30% of startups operate within the AI space, and among new ventures in 2024, this figure exceeds 60%.
In Brussels, a city that captures 31% of investment while representing just 17% of GDP, the startup ecosystem flourishes with significant potential. Meanwhile, Wallonia is seen as a growing opportunity, with its robust industrial landscape providing fertile ground for tech development, though currently underrepresented in the share of investments.
The rise of these unicorns is not just about larger funding rounds but also signifies a strategic positioning within the tech ecosystem. This maturation reflects a deeper confidence from investors in Belgian entrepreneurs’ ability to innovate and deliver high-value solutions across various domains, from digital platforms to comprehensive business management solutions.
While Belgium has established a robust tech foundation, integrating a diverse workforce remains a challenge. The lack of diversity metrics not only hinders understanding but also the ability to implement change. The growing tech landscape sets the stage for addressing these concerns, with potential to enrich the sector through varied perspectives and talents.
Belgium has shown that its tech sector is on an upward trajectory but maintaining this momentum requires addressing existing challenges.
As Belgium’s tech industry grows, the incorporation of diversity could be pivotal to truly matching its European neighbours.
Continued investment and diversity are crucial for Belgium’s tech sector to thrive.
With strong foundations in place, the future looks promising if these challenges are met head-on.
