According to Sifted, European science ventures are being held back by what they call “the cult of IP” where patents are treated like golden tickets while distracting from real progress. Venture firm Wilbe revealed that half their investments so far in 2025 were made before any patent applications were filed, showing a deliberate shift away from traditional IP obsession. Companies like Proxima Fusion, U-ploid Bio, and Milvus Advanced have secured multiple funding rounds without holding foundational patents at the outset. Universities across Europe file tens of thousands of patents annually, yet very few become successful commercial ventures. At Wilbe, only about 1% of scientists they meet ultimately receive investment, reflecting how rare the right combination of founder talent and market focus really is.
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Europe‘s patent problem
Here’s the thing: Europe’s approach to science commercialization is fundamentally broken. We’re treating patents like they’re the goal rather than what they actually are – just one tool among many. Universities are spending fortunes on technology transfer offices that basically function as patent factories, churning out paperwork that rarely translates into real companies.
And the cost isn’t just financial. Think about the opportunity cost of all that brainpower and resources being poured into maintaining patents that will never amount to anything. That money could be funding actual research or supporting scientists who are building real solutions. Instead, we’ve created this bizarre system where the paper trail matters more than the people creating the science.
What actually matters
Look, patents have their place. Nobody’s saying they’re completely useless. But when you look at successful science startups, the pattern becomes clear: it’s about the founder, the market need, and the ability to execute. Patents often come later, if they come at all.
Wilbe’s portfolio companies prove this point beautifully. Proxima Fusion is building Europe’s fastest-growing fusion company without foundational patents. U-ploid Bio is transforming IVF treatments. Milvus Advanced is creating substitutes for rare earth metals. These aren’t small ideas – they’re massive challenges that require exceptional founders, not just patent filings.
Basically, a patent tells you someone had an idea. It doesn’t tell you whether that person can build a company, whether there’s a market for the product, or whether the technology actually works in the real world. We’re rewarding the wrong things.
The human element
So what’s the alternative? Stop treating scientists like patent-producing machines and start recognizing them as potential entrepreneurs. The most valuable asset in any science startup isn’t the IP – it’s the person behind it. Their judgment, their ability to learn and adapt, their leadership qualities.
And here’s the uncomfortable truth: most scientists shouldn’t be founders. Wilbe’s 1% investment rate tells you everything you need to know about how rare the right combination really is. But when you find that rare scientist who also has entrepreneurial instincts? That’s where magic happens.
Good scientists don’t stop discovering after filing a patent. They keep learning, refining, sometimes completely pivoting. The patent system can’t keep up with that kind of rapid iteration. By the time a patent is ready to license, the science has often moved way beyond it.
Changing the culture
This isn’t just about venture capital – it’s about changing how Europe thinks about innovation. We need to stop using patents as a proxy for progress and start looking at what actually creates value: solving real problems for real people.
Investors who demand patents as a prerequisite are essentially outsourcing their due diligence to patent offices. They’re looking for the false security of government-granted monopolies rather than doing the hard work of evaluating founders and markets.
The irony is that when you start with the right team solving the right problem, valuable IP naturally emerges along the way. But it serves the venture rather than dictating it. That’s the shift Europe needs if we want our science to actually make an impact beyond academic journals.
