Sonali De Rycker, a general partner at Accell, is one of Europe’s most powerful VCs. She aims to see a clear turn in the continent’s goals with regard to artificial intelligence (AI). The geopolitical landscape is changing and the United States is turning more attention inward. De Rycker argues that Europe needs to focus on self-sufficiency and technological sovereignty in its technological pursuits.
At a recent public forum, De Rycker cautioned against underestimating the urgency of the situation. She then announced that Europe is at an inflection point. As US support for Europe’s defense and economic autonomy wanes, she believes that the continent must forge its own path. “Now that Europe is being left to fend [for itself] in multiple ways,” she explained, “we need to be self-sufficient, we need to be sovereign.”
With over 70 investments across cities in Europe and Israel through Accel, De Rycker has a comprehensive view of the continent’s fragmented yet flourishing tech landscape. She notes that as cities such as Zurich, Munich, Paris and London begin to develop these self-reinforcing ecosystems. This expansion is exploding with new creativity and a booming startup culture. De Rycker points out a glaring difference in adoption rates vs the US.
It’s a little bit like the early days of mobile,” she said, likening the current moment in AI to past innovation surrounding the now ubiquitous mobile technology. She is particularly bullish on the current generation of founders in Europe, which she feels are showing incredible potential. These founders, they look no different” from their US-based counterparts, she told us.
De Rycker is hopeful about Europe’s place in the AI world. She is worried about the EU’s AI Act, which would heavily regulate any application deemed “high risk.” Euractiv She also cautions that the wide applicability of this legislation, and its heavy-handed fines, might dissuade innovation in Europe. According to her, if Europe were to become a more integrated region, its technological development would be greatly speeded up.
“We feel very comfortable with the application layer,” De Rycker asserted, indicating that there is ample opportunity for innovation within AI applications. She recognizes that these often capital-intensive foundational models do not look like your typical venture-backed company.
The venture capitalist remains bullish about Europe’s future in AI, noting that “we’re expanding total addressable markets at a rate we’ve never seen.” She is deeply convinced that Europe’s ability for innovation can create impressive leaps forward. This promise depends on us addressing the current barriers to cohesion.
De Rycker is a passionate advocate for more self-sufficiency in Europe’s tech landscape. She has a well-deserved reputation for helping startups and building a business-friendly climate that encourages innovation. Her impressions are indicative of a European investor and founder cognizance that is on the rise, acknowledging the importance of tapping into what’s available at home.
