From the Lab to the Market: The Challenge of Scaling European DeepTech

Europe has a strong capacity to generate scientific knowledge and develop advanced

technologies. However, the real challenge lies in turning this potential into companies

capable of growing, attracting capital and competing in international markets. Futuro

Perfecto’s incorporation into BME’s Entorno Pre Mercado (EpM) responds precisely to this

purpose: helping to connect innovation, business development and financing.

In the field of deep tech, the journey from the laboratory to the market is often long and

complex, as a technology necessarily goes through different stages: research, development,

validation, intellectual property protection, the creation of specialised teams, industrialisation

and, ultimately, commercialisation. Each stage presents specific challenges and requires

different capabilities, resources and financial instruments.

For this reason, a company’s needs evolve as its level of maturity increases. The appropriate

financing during the research or early development stages may not necessarily meet the

requirements of a later stage, when the company needs to expand its production capacity,

enter new markets or drive its internationalisation. Consequently, the challenge of innovation

does not end when a technology works: it also involves creating the conditions necessary for

the company developing it to grow sustainably.

Innovation Is Not Enough: It Must Be Scaled

Europe has world-class universities, research centres and scientific talent. However, turning

this knowledge into internationally competitive companies requires much more than

promising technology. It is also necessary to identify markets, attract and develop talent,

consolidate management capabilities and establish strong relationships with industry.

Throughout this journey, different sources of financing may come into play, including venture

capital, bank financing, corporate investment and capital markets. Not all companies need the

same instruments, nor is there a single path to growth.

What matters is that companies understand the alternatives available to them and are prepared to turn to them when their circumstances and objectives require it.

In this context, BME’s Entorno Pre Mercado (EpM) takes on particular relevance.

What the Entorno Pre Mercado Offers

The Entorno Pre Mercado (EpM) is a training and networking programme aimed at startups,

scaleups and high-growth-potential SMEs. Its objective is to help these companies understand

how capital markets work, become familiar with their requirements and develop the

capabilities needed to consider equity market financing as an alternative or complement to

other sources of funding.

The programme combines training, practical experience, visibility and contact with

professionals and investors. Its content includes capital structure, corporate governance,

reporting and transparency requirements, as well as an understanding of the different

stakeholders involved in the process of joining a market.

It is important to clarify that the EpM is not a securities market and does not provide financing

directly. Nor does it require participating companies to subsequently join a market operated by BME. It is a preparation environment that enables companies to gain a better

understanding of capital market dynamics and assess, on a more informed basis, whether this

route fits their business strategy.

This preparation can be particularly valuable during expansion phases. Growth requires

companies to professionalise their organisational structure, improve their information

systems, strengthen corporate governance and establish a more structured and transparent

relationship with investors and shareholders.

Beyond Capital

Access to financing is an important component of growth, but it is not the only one. A technology company may have a validated solution and still need support to find industrial

partners, access new markets or develop the capabilities required to enter an expansion

phase.

Similarly, research with commercial potential needs teams capable of turning knowledge into a product, a company and, ultimately, a sustainable economic activity. The connection between these areas — science, entrepreneurship, industry, investment and public administration — is an ecosystem challenge.

This is one of the areas in which Futuro Perfecto operates, working with universities,

technology centres, public administrations, companies and investors on initiatives related to

innovation and deep tech. Its incorporation as a partner of BME’s Entorno Pre Mercado

expands this activity into a particularly relevant area: the relationship between innovative

companies and capital markets.

The objective is not to present equity market financing as a universal solution, but to help

companies with growth potential better understand their options and prepare themselves to

make informed decisions about their financial and business future.

From Technology to Competitiveness

In fields such as artificial intelligence, quantum computing, biotechnology, the space sector,

robotics and cybersecurity, generating knowledge is only the first step. The ability to turn that

knowledge into competitive companies also has an impact on Europe’s economic and

industrial position.

When a technology developed in Europe does not find the conditions it needs to grow on the

continent, there is a risk that a significant share of the economic value associated with that

innovation will ultimately be generated in other markets. Strengthening Europe’s technology

business ecosystem therefore requires coordinated action across different areas: research,

knowledge transfer, talent, industry, financing and market access.

The Entorno Pre Mercado occupies a specific place within this journey. It helps companies with

growth potential become familiar with capital markets, develop specific capabilities and build

relationships with the professionals and investors operating within them.

A Collaboration Built for Continuity

Futuro Perfecto’s incorporation as a partner of BME’s Entorno Pre Mercado also connects with

one of the debates at the next edition of the Horizon Deep Tech Summit 2026, the annual meeting focused on innovation and technology capital, whose upcoming edition will explore

this relationship.

Europe’s technological future is often analysed in terms of its scientific capabilities and the

technologies it is developing. However, we must also ask how many of these innovations

succeed in becoming companies, how many manage to scale from Europe and how many have

the right instruments to finance each stage of their development.

There is no single answer to these questions. There is, however, a clear need to better connect

the different pieces of the ecosystem. Futuro Perfecto’s incorporation into BME’s Entorno Pre

Mercado is part of this effort: bringing science, entrepreneurship, industry, investment and

capital markets closer together to help more technology companies realise their full potential.

Europe’s next competitive advantage will depend not only on its ability to invent, but on its

capacity to support, consolidate and retain the value of what it invents.