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“UK investors just didn’t get what we were trying to do.”

Tim Green

Dan Wagner of Powa talks frankly about the shortcomings of European tech investors.

UK entrepreneur Dan Wagner is optimistic about European tech, but for the moment he says investors just don’t understand the vast potential of disruptive new ideas.

The state of European tech – and whether it can ever catch-up or even surpass the US technology scene – was the subject of a panel session at Hot Topics’ most recent event in London.

Wagner, the founder of mobile payments specialist Powa Technologies, moderated the session.

He knows first hand about the potential and the shortcomings of the Euro scene. His company has raised $150m, but from US investors rather than Europe based VCs.

He gave his views afterwards to Hot Topics. And candid they were.

“They (European investors) don’t have the benchmarks and the analyst research to give them that comfort. It’s not that they don’t have the capacity to buy a big vision, it’s just that (at the moment) they don’t understand the scale of it.

“It can be addressed through greater analyst coverage. There is industry research to be done to build understanding even if it means researching US or Asian companues to make the point.”

Wagner also talked about the diversity of Europe, the state of talent here and the need for better tax regimes to stimulate investment.

For more of Dan’s views, watch the video above.