This study provides a comprehensive inventory and analysis of SMEs that invest in the development of new 4IR technologies in the EU27. The study quantifies and analyses the contribution made by these small businesses to the EU's performance in 4IR innovation over the past decade. By benchmarking these companies against similar 4IR businesses in the US and other European countries, it aims to inform policymakers, private decision-makers and investors about the specific challenges of growing deep tech businesses within Europe.