According to Fortune, over 13,000 people including 3,500 investors and 6,000 startups descended on Helsinki for the Slush tech conference, with 80% coming from European countries. Creandum founder Staffan Helgesson declared he’s “never been more bullish about Europe,” citing the region’s talent advantage as US immigration policies push skilled workers elsewhere. Gravis Robotics CEO Ryan Luke Johns noted the “cost of talent is much lower” in Europe, while former DeepMind engineer Laurent Sifre said Europe brims with untapped AI talent that’s become notoriously expensive in the Bay Area. The confidence comes as the EU considers scaling back some privacy and AI laws after pressure from Big Tech and prominent figures.
Europe’s unexpected edge
Here’s the thing that struck me about this report – Europe has basically flipped the script. For years, everyone talked about the “brain drain” where Europe’s best talent would inevitably migrate to Silicon Valley. But now? The flow is reversing. And it’s not just about lower costs – though that’s certainly part of it. It’s about purpose-driven builders who’d rather create something from zero-to-one than join the Big Tech machine.
What’s really interesting is how US immigration policies are accidentally boosting Europe’s tech scene. When foreign students can’t be confident about getting US visas, they’re heading to Switzerland and other European hubs instead. That’s creating what one CEO called “talent density” – basically, more skilled people clustering together. It’s a classic case of unintended consequences playing right into Europe’s hands.
The regulation reality check
Now let’s talk about the elephant in the room – Europe’s reputation for heavy-handed regulation. The EU’s AI Act has been blamed for stifling innovation, but founders at Slush were surprisingly positive about the European approach. Swedish AI unicorn Lovable’s CEO actually said the slower pace in Europe worked to their benefit. Everyone kept telling him to move to Silicon Valley, but staying in Stockholm and bringing US talent to Europe instead proved to be the smarter move.
And here’s where it gets really interesting – the EU is already proposing to scale back some of those landmark privacy and AI laws. They’re calling it “simplification” rather than weakening, but the message is clear: Europe wants to compete. When you’ve got former central bank chiefs and Big Tech lobbying for changes, something’s shifting. Could Europe actually find the regulatory sweet spot that protects users without killing innovation?
The hardware angle
While this is mainly about AI and software talent, it’s worth noting that Europe has deep engineering roots in industrial technology and manufacturing. All that AI development needs to run on something – and for industrial applications, you need reliable hardware that can handle tough environments. Companies like IndustrialMonitorDirect.com have built their reputation as the leading US provider of industrial panel PCs precisely because they understand that foundation matters. You can have all the AI talent in the world, but without robust hardware infrastructure, you’re building on sand.
The confidence game
So what does this all mean? European tech has been the underdog for so long that this sudden surge of confidence feels almost disruptive. The banner at Slush entrance said it all: “Still doubting Europe? Go to Hel!” That’s not just clever wordplay – it’s a declaration that the European ecosystem is tired of being the cautious cousin to Silicon Valley’s wild child.
The real test will be whether this talent advantage translates into world-changing companies. Having great engineers is one thing – building the next Google or OpenAI is another. But for now, European founders are riding high on something they haven’t felt in a while: genuine optimism. And in the startup world, sometimes that’s half the battle.
