X
MENU
X

Mind the Bridge

European Innovation Day (EID), part of SEC2SV mission

The IV edition of EID – European Innovation Day, the European Digital Conference in Silicon Valley organized by Mind the Bridge, is planned for September 11th.

Central event of the SEC2SV Week (9-15 of September), EID-European Innovation Day is a thought-provoking, inspiring conference at Computer History Museum (almost 700 attendees registered in the 2017 edition) that brings together the current/future EU Unicorns and EU policy makers to meet the Silicon Valley digital economy stakeholders.

The SEC2SV Week will continue with follow-up meetings and parallel agenda for the different stakeholders. Silicon Valley counterparts for the meetings/events usually include government officials, senior execs from Facebook, Google, Uber, Airbnb, GE, representatives from the investors (Andreessen Horowitz, Felicis, Greylock, Social Capital, SoftechVC, USV, Y Combinator, RocketSpace, 500 Startups) and academic (Stanford, Berkeley, Singularity University) community.

Registrations are available HERE.

 

Hot topics of 2018 edition will include:

  • GDPR: Privacy and Data Storage/Transfer
  • ICOs (Initial Coin Offerings) and its and CryptoCurrencies Regulations
  • European Economy of Innovation in Silicon Valley
  • Startup M&A

First confirmed speakers unveiled:

  • Peter Arvai, CEO and co-founder, Prezi
  • Pēteris Zilgalvis, Head of unit, DG Connect, European Commission
  • Kristin Schreiber, Director COSME programme, DG Grow, European Commission
  • Tim Draper, partner, Draper Associates
  • Sorin Moisa, MEP, European Parliament
  • Adam Sterling, executive director of the Berkeley Center for law and business
  • Sabrina Ross, international privacy and security expert
  • Martin Rauchbauer, co-director, Open Austria
  • Georg Fuerlinger, co-director, Open Austria

 

Looking for the next Unicorns!

Top European scaleups aiming at expanding operations to the US market will be selected to join the event.

Minimum requirements to be considered as a Scaleup:

  • to have at least 10 employees as of 3 years ago in the last 3 years
  • to be growing more than 20% year-over-year in revenue, employees, or user-base.

Applications end on July 1st.

CONTINUE READING

European Commissioner Miguel Arias Cañete to keynote at #SEC2SV 2018

San Francisco, September 10th, 2018 – Miguel Arias Cañete, European Union’s Commissioner for Climate Action & Energy, confirmed to attend the 4th edition of “Startup Europe Comes to Silicon Valley”, the premier program for future European Unicorns (Silicon Valley, 9-15 September) organized by Mind the Bridge with the support of the European Commission, the European Parliament, and EIT Digital.

Mr. Canete leads the EU initiatives to increase European energy security, energy infrastructure projects, rules and laws to implement the 2030 climate and energy framework, policy for renewable energy and the promotion of the “Emissions Trading System”, the flagship of European climate policy.

“It’s an honour for us to host this year Commissioner Cañete at our annual SEC2SV program in Silicon Valley  commented Alberto Onetti, Chairman of Mind the Bridge and Coordinator of Startup Europe Partnership  According to our last research ‘European Innovation Economy in Silicon Valley’, Energy&Power is the second most represented vertical among the European Corporate Outposts in Silicon Valley, with 7 outposts, right after the Automotive industry. Innovation and regulation should go hand by hand. On that regard, the ‘transatlantic’ dialogue is key.”

On Wednesday, September 12th (6.30PM-7.30PM), the 2018 SEC2SV delegation will attend the invitation-only meeting with the Commissioner which will include a presentation from Ivan Contreras, CEO and founder of Muving Ecosystem, a European startup active in e-mobility, currently expanding into the US. Muving is one of the 14 European companies invited to attend the week-long SEC2SV program.

After the introduction by Marco Marinucci, CEO and founder of Mind the Bridge, Alberto Onetti, Chairman Mind the Bridge and Coordinator Startup Europe Partnership will present some highlights from their new research on “European Innovation Economy in Silicon Valley” and moderate the debate.

The meeting between the EU Commissioner Cañete and the European innovation ecosystem in Silicon Valley is organized by Mind the Bridge.

CONTINUE READING

Scaleup Finland: A key scaleup ecosystem for Europe with a (still) unexploited potential

Brussels, September 5th, 2018 – Finland is a key scaleup ecosystem for Europe, but still shows an unexploited potential, according to the last “Tech Scaleup Finland” Report presented today by Mind the Bridge and Startup Europe Partnership with the support of Business Finland.


219 scaleups have been in fact identified in Finland (
equivalent to about 4% of the total amount tracked in Europe), totally raising $1.9B in funding since inception (2.3% of the total capital raised by European scaleups to date).


In addition, Finland ranks 9th in the Scaleup Country Index 2017*, between The Netherlands and Denmark, with only Sweden, among the five Nordic countries, outperforming it both in capital raised and scaleup population. In these terms, the gap with larger ecosystems such as the UK, Germany or France is likely far too wide to be bridged: UK scaleups raised, alone, 15 times more capital, the German about 8 times more, the French 5 times more.


“Though absolute numbers suggest that Finland is really far from UK, Germany, France, and Sweden, the conversation changes in relative terms 
– commented Alberto Onetti, Mind the Bridge Chairman and Startup Europe Partnership Coordinator – Starting this year we introduced two indicators to better understand the efficiency of a scaleup economy as it relates to the size of the country in question. Finland outperforms the rest of the continent for what we labeled the Scaleup Density Ratio’ by producing an average of 4 scaleups per 100,000 peoplecompared to 2.5 in UK, 0.6 in Germany and 1.0 in FranceAnd it scores well also against the ‘Scaleup Investing Ratio’, with 0.75% of GDP dedicated to scaleup innovation, 1.7x more than the European average, doubling the European powerhouses Germany (0.40%) and France (0.34%), being substantially aligned with the Nordics average of 0.82%.”


Scaleup Europe Country Index 2017 Top 10

“Finland is definitively a key scaleup ecosystem for Europe with a still unexploited potential.” added Isidro Laso Ballesteros, Head of Startup Europe European Commission.


“The startup ecosystem is already now effective and flourishing in Finland. One can see an upward trend in the share of foreign VC investments and the growth in exit valuation levels.
There is always room to improve. We are constantly building the Finnish startup community to the next level together startups, accelerators and investors. High-growth, scaleup companies create jobs and exports and thus are crucial for our national economy.” commented Marjo Ilmari, Executive Director, Startup & Fast Growth Business Finland.

 

Growth – Scaleup Population and Capital
The Finnish scaleup ecosystem increased its size in 2017 with 16% growth in scaleup population (+34 new scaleups) and raised $0.3B more capital, with a YoY increase of 17%. These numbers place it behind Sweden in the growth charts (35% increase in population, 30% in capital), but Finland still runs faster than its other Nordic siblings Denmark (13% increase in population, 6% in capital), and Norway (11% growth in population, 15% in capital).
Since 2013 the scaleup population of Finland has been growing a consistent 15-17% without any fluctuation, up to 10 point less behind the European average of 28% for the years 2016-2017. 2018 will be not different with a 18% YoY growth figure. Also on the capital raised side, despite the fact that in 2017 the country had a YoY loss of 20%, the $318M that the scaleups raised was good enough to add another 34 scaleups to the count. A constant growing trend is expected this year.


Capital Raised: 96% comes from VC, a few IPOs, no ICOs.
When it comes to capital raised, 96% comes from Venture Capital, while only 4% (about $0.1B) comes from the IPO channel. In 2017, 2 more companies joined the IPO club: Next Games and Rovio, not surprisingly reinforcing the impression that Finland remains the “land of gaming”. Both IPOs were around $40M, below the European average ($120M). Surprisingly Finnish scaleups have not jumped on the ICO train yet, as we didn’t track a single company which has launched a crypto offering the previous few years. 

                 Scaleup Europe Matrix 2017

Scaleup Migration to the US
There are 33 (15% of total) companies in Finland that moved their headquarters abroad (typically to have access to capital) and we can classify as “Dual Companies”. These 33 raised $552M altogether, amounting to 29% of the total capital raised by Finnish scaleups. They mostly moved to the US (19 of them, 11 to Silicon Valley) and outperform in terms of capital raised, having attracted an average of $16.7M, compared to the $7.3M average of companies that choose a domestic growth path.


Founding vs Funding
Despite a recent story of the scaleup ecosystem in Finland, only 25% of the scaleups have been founded in the last 3 years. Finnish scaleups are very active in raising capital constantly: 52% had a funding event in the past 2 years. In 2017 56 scaleups registered a funding event.


Sizes don’t matter
The scaleup scene in Finland is dominated by “small” scaleups: the ones that raised between $1 and $10M, represent in fact the large majority (79%) of the population. Only the 3% raised above $50M (tech giants). However, in Finland size doesn’t seem to be that relevant in the Finnish ecosystem: the Scalers (companies attracting over $100M in financing) account only for the 13% of the total funding, while the “middle class” segment ($20-$50M) attract the most funding among the cohorts. The smaller ones raised 27% of the total.


Geography of fundings
Of all capital poured into Finnish scaleups, one third (34%) comes from Finnish funds, while US funds account for slightly less than one third of investments (27%) and British for a little minority (6%). Investments coming from the rest of the world are relevant as well, accounting for a consistent 10% of capital (coming mostly from Chinese and Singaporean investors).


“Startups ecosystems in Europe start to be connected among themselves. But we need to do still more 
– added Isidro Laso Ballesteros, Head of Startup Europe European Commission  Our competitive advantage is to be united in diversity. Advantage that can only be realised by working at ecosystems level to be a Startup Europe: a startup continent.”


To Game or not to Game?
Finnish companies operating in the Gaming industry are only 13% of the population and have attracted almost $400M, 21% of all capital made available to scaleups to date. But if we remove the 2 IPOs by Rovio and Next Games, investments in Gaming are actually slightly declining over that period. YoY growth (2017/2016) is anyway the highest, 3.7x.
Medtech (11% of the population) attracted 8% of the total capital ($142M) with a YoY of 1.5, Cleantech the 10% ($190M) with a YoY of 2.0, while traditional industries such Hardware and Software collected respectively 8% ($153M) and 9% ($161M), covering the 9% of the population each. 

Top 5 industries for Capital raised - Finland

Scaleup Helsinki
The capital city of Helsinki hosts 131 scaleups, which raised altogether almost $1.2B. This concentration is 60% of the total population, and contains 63% of the capital raised. If we add Espoo, home of other 33 scaleups, concentration rates go up to 75% and 82%. Outside of the capital, Oulu is the largest scaleup hotspot, followed by Tampere and Turku.


M&A Momentum
The Finnish ecosystem is definitely seeing momentum in M&A activity. With a total of 112 acquisitions of Finnish startups and scaleups since 2010, after a relatively stale M&A activity, each year since 2013, 2017 signed a turning point with 45 M&A transactions, 3.5x compared to 2016. Nevertheless, they are still a domestic business, since the 38% of Finnish startups are acquired by Finnish companies. 28% belongs to US, 16% other countries, 13% to other Nordics and 5% to other countries (mostly Chinese and Japanese companies).


Not surprisingly, the Gaming startups get the third spot in the industry ranking of Finnish startup M&As with 11 deals (the 10% of all), right behind Software Solutions (first at 18 deals, the 16%) and Enterprise Software (14 deals, the 13%). 

___

* Notes on Methodology
Scaleup Density Ratio: number of scaleups per 100K inhabitants. A measure of density of scaleups in a given ecosystem.
Scaleup Investing Ratio: capital raised by Scaleups as a percentage of GDP. A measure meant to measure the capital invested in scaleups in a given ecosystem, compared to the size of the overall economy of that country.
Scaleup Country Index: country ranking built upon Scaleup Density Ratio and Scaleup Investing Ratio. A measure of the overall innovation commitment of a given ecosystem and its ability to produce significant tech players.
The indicators above are produced and monitored by Mind the Bridge.

CONTINUE READING

SEP ELITE Tech Scaleup 100 – The ranking unveiled!

The first 100 European tech scaleups have been unveiled today, during the second SEP Scaleup Summit taking place at London Stock Exchange Group in London. Mind the Bridge in collaboration with ELITE, London Stock Exchange Group’s business support and capital raising programme, as part of Startup Europe Partnership (SEP), launched the “SEP ELITE Tech Scaleup 100” a ranking of the top 100 tech European scaleups.

Inclusion in the ranking is based on an algorithm that factors capital raised by the company since inception and qualitative parameters (such as employee growth, competitive position, IP and trademarks, traffic growth, sentiment analysis and M&A activity), analyzed in partnership with AI startup Zirra (*). The weight of the qualitative component will be increased over time, as more parameters are added and data is collected, increasing the accuracy and training of the AI models.

Announced three month ago, on the occasion of the first SEP Scaleup Summit hosted by Borsa Italiana in Milan, today is the unveiling of the first SEP ELITE Tech Scaleups 100 names.

 

Download the SEP ELITE Tech Scaleup 100 infographic

 

Top 3 EU tech scaleups are Spotify, Delivery Hero, and IHS Markit.

Out of the top 100, 32 are from the UK, 17 from Germany and 11 from France. 18 countries represented in total. Fintech is the dominant industry (19 scaleups out of the top 100), followed by E-Commerce (10) and FashionTech and Enterprise Software (8 scaleups each).

“In Europe, but above all outside of Europe, we don’t have a clear perception of what’s happening at the forefront of innovation on the Continent. Actually, the truth is that in Europe we are able to produce fast-growing startups”, Alberto Onetti, SEP Coordinator and Mind the Bridge Chairman commented. “Through this new Index we aim to provide international visibility to the best European tech companies by tapping into the analytical methodology we have developed in these last few years with Startup Europe Partnership.”

Luca Peyrano, CEO of ELITE, added “Scaleups are companies with great ambitions and high growth potential. They are the future of tomorrow’s economic prosperity. We are pleased to support the first edition of the Scaleup Summit together with Mind The Bridge, EBAN, the European Startup Network, The ScaleUp Institute and the support of the European Commission. Together we are committed to creating a dynamic European ecosystem that is conducive to growth, innovation, and where entrepreneurs can access the appropriate support and tools they need to thrive. ELITE’s mission is to support dynamic fast-growing companies because of their unique ability to innovative, create jobs and because they represent an extraordinary driving force for economic development in Europe.”

The ranking is to be issued on a quarterly basis with the goal of regularly providing a snapshot of Europe’s high-tech industry and to showcase the most innovative European startups that are scaling up. The ranking is not an indicator of investment or business quality, rather a way to highlight some of the most active tech scaleups in Europe, raising awareness on one of the most important segments for Europe’s future prosperity.

“Today the ranking of the top 100 European tech scaleups has been unveiled. We plan to issue the SEP ELITE Tech Scaleup 250, SEP ELITE Tech Scaleup 500, SEP ELITE Tech Scaleup 1000 in the coming months.” – continued Alberto Onetti – And the algorithm will be adjusted to better factor in the quality of the companies and to go beyond quantitative proxies.”

“Our technology ingests and makes sense of news articles, websites, social media posts, legal and regulatory filings – all types of publicly accessible data on the web – said Aner Ravon, co-founder and CRO of Zirra – Using a suite of domain-customized Natural Language Processing techniques together with a variety of Machine Learning algorithms, we identify companies, people, acquisitions, product launches and many other events. We sift through the millions of inputs to assemble an accurate company fingerprint. Beyond just the facts, Zirra identifies insights, signals, relationships and trends. The SEP ELITE Tech Scaleup index presented here is created using scoring built from some of the signals that Zirra continuously tracks on all companies in our database. Future plans include utilizing Recurrent Neural Networks for processing, analysis and scoring. We are thrilled to have the opportunity to contribute with our technology to support the European scaleup ecosystem”.

Companies interested in getting a more comprehensive valuation can provide further information by completing the digital self-assessment tool ELITE Growth Compass, whose score will be included in the algorithm. A link to the tool can be found here: https://etinerary.elite-growth.com/en

 

(*) The qualitative analysis – produced in partnership with Zirra – currently factors in the following eight parameters: employee growth rate over the past 12 months, years active, funding trajectory, competitive position, IP and trademarks, traffic growth (current month vs. past six months), M&A activity, and Google sentiment analysis. The algorithm will be adjusted to factor in revenue and revenue growth plus other indicators. For private companies, revenue will be considered only if disclosed by companies. 

CONTINUE READING

“Tech Scaleup Europe 2018” SEP Monitor presented in London. All the data!

In 2017 Scaleup Europe experienced a year of growth which can be described as sustainable: more than 1,200 scaleups were born in Europe (+22% of the total, +28% YoY growth from 2016) reaching a total of 5,596 that have cumulatively raised $83.2B (+36 growth in capital raised). But the gap with other ecosystems remains hug.

 

This is what emerged from the last “Tech Scaleup Europe 2018” SEP Monitor presented today in London on the occasion of the second SEP Scaleup Summit organized by Mind the Bridge and hosted by the London Stock Exchange.

 

“Let me share some good news: Scaleup Europe is growing, finally – commented Alberto Onetti, Chairman of Mind the Bridge and SEP Coordinator, while opening the event – We’ve measured good progress, but there is still of course a lot of work ahead of us. We know that the innovation is not a plant that gives you harvest quickly, you have to continuously seed and work to bear fruits. And we are seeing the initial European crops.”

 

The research highlighted that the strongest economies continue to produce the most scaleups: UK, France, Germany and Sweden top the Scaleup Europe Country Index, by contributing to almost 70% of that growth in absolute terms. The UK continues to lead the pack with a 28% growth rate, adding 368 scaleups to its population for a total of 1,668 as of end of 2017 (30% of the Europe’s total), clearly unhindered by Brexit talks in the meantime. France and Germany follow with a 32% growth rate each: France added 165 scaleups for a new total of 681 (12% of total), and Germany added 129 for a total of 530 (10% of the total). Sweden ranks 4th in the Scaleup Europe Country Index with a 35% growth rate, adding 126 scaleups in the past year for a new total of 489.
The regional averages show a similar story with Northern Europe (24%) performing the strongest and Southern Europe once again dragging their feet in the innovation wave, with a lower growth rate of only 16%.

 

“2017 was an amazing year for the startups in the growth phase. The glass is half full. Startups ecosystems in Europe are starting to be connected among themselves – added Isidro Laso Ballesteros, Head of Startups and Scaleups at the European CommissionThis high level of connectivity contributes significantly to help startups in their growth phase. We still need to do more. Beyond US, Asia is growing at high rate. Ecosystems in Asian countries have unique characteristics that are helping with their high growth rates. Our competitive advantage is to be united in diversity. An advantage that can only be realised by working at ecosystems level to be a Startup Europe: a startup continent.”

 

On average, Europe nowadays registers approximately 1 scaleup for every 100,000 inhabitants, slightly up from 0.9 in the previous year. The Nordic countries outperform the other areas by producing on average over 3.7 scaleups every 100K people. In particular, Sweden (with 4.9 scaleups per 100K inhabitants), and Finland are definitely leading the way in terms of scaleup density. Among the larger countries, the UK leads with a 2.5 density ratio.

 

London has been confirmed to be by far the largest scaleup “hub” in Europe with over 1,100 scaleups based there. Paris follows (453 scaleups), Berlin and Stockholm are behind with slightly less than 300 scaleups. Other relevant emerging tech hubs (over 100 scaleups each) are Dublin, Helsinki, Amsterdam, Barcelona, Copenhagen, and Madrid.

 

“Beyond these main scaleup hubs, there is another Europe comprised of “tier-two” cities and municipalities whose role cannot be neglectedsaid Alberto Onetti We will publish after the summer a dedicated study focused on these minor hubs that are key for Europe.”

 

CAPITAL RAISED
As mentioned, in 2017 $22B of new capital (average growth +36%) was invested in Europe for total $83.2B.
In terms of growth, large countries stay close to the European average: UK outperformed with a solid +40%, Germany registered a +36% average growth, while France a +30%. Northern countries are running faster, while Belgium and Netherlands reporting respectively +44% and +38% growth rates. In the Southern Europe, Italy is 2 point below the average (+34%) ,while Spain is slowing down (half than European average, +17%).
In absolute terms, the UK still dominates with $27.5B (33% of the total capital raised) and Germany ($14.6B, 18%) precedes France ($8.9B, 11%), this last change being the most noticeable since last year: in relative terms, Germany is home to “only” 10% of scaleups, but those scaleups took in 18% of the total funding in Europe. France by comparison accounts for 12% of the scaleup population, and 11% of the funding. Following, the Scaleup Europe Country Index finds Sweden with $7.3B (9%), Switzerland with $3.6B (4%) and Spain with $3.3B (4%).

 

EUROPE vs SILICON VALLEY/ISRAEL
Despite the growth, the gap with other ecosystems remains huge. In terms of number of scaleups, the Silicon Valley is worth, alone, a little more than the entire European continent, while in terms of capital raised it accounts for almost 3 times the entire amount raised by all European scaleups. Considering all the United States as a whole, scaleups there have raised $657.5B since inception, 8 times more than the $83.2B raised by their European counterparts. Israel scores better than all European ecosystems – apart from the UK – per number of scaleups and is second only to Germany and the UK per capital raised.

 

ACCESS TO CAPITAL: NOT (YET) A SINGLE WAY TO SCALE-UP
There’s not (or not yet) a single European way to scale-up for tech companies: while some are pursuing the venture capital funding path, other are leveraging private investors and family offices. One large and recently emerged group in particular is exploring crowdfunding and fundraising through cryptos (ICOs).

 

  • Venture Capital: data shows that $70.7B of capital poured into European scaleups comes from venture capital and private investors, by far the large majority (85%) of the total capital. European scaleups are still mostly depending on venture capital.
  • IPOs only represent 12% of the capital raised by scaleups ($9.7B) comes from stock markets through IPOs (losing 10 points compared to last year when it was 15%). Only the 1% of the European tech scaleups have gone public. And not all of the IPO money comes from Europe: 25% of the capital has been raised on US stock markets. On average, European scaleups collect about $120M in new funding when they start trading on stock markets. However, it takes time to plan and implement large IPOs: on average, European scaleups go public 8.7 years after inception.
  • ICOs: the main point of discontinuity compared to the recent past is that $2.8B was raised through ICOs (Initial Coin Offerings), where Europe seems to have a competitive advantage over the United States. This is about 3% of the total capital raised.
    3% of European scaleups have completed an ICO. Central States (driven by Switzerland rather than Germany and France) play a dominant role ($1.3B raised, 50% of the total), followed by Eastern Europe and the Baltics (that cumulatively raised over $0.5B, 19% of the total). Less than 15% ($395M) of the ICO capital total was raised in the British Isles.
    An interesting example is the Swiss canton (province) of Zug, becoming more and more known as the European Crypto Valley. 27 scaleups that made an ICO – raising $1B+ – are headquartered there.

 

ICO’s have proven to be a very interesting substitute for the first round of financing of tech scaleups. On average, the ICO channel provides 4 times more capital (an average of $17.6M), than the generic series A raised with traditional VCs ($4.5M on average). Another benefit scaleups are leveraging from ICO’s is speed, which is just as important as availability when it comes to funding. European scaleups on average take 3.3 years to complete the Series A financing, and almost 9 years to go public. The ICO path is much faster.

“When it comes to the origins of the investments, in 2017 on average 43% of capital invested into scaleups come from domestic investors, plus another 11% from investors from other European countries, and approximately 40% from outside Europe – added Alberto Onetti US investors play a leading role in this case with 26% of overall investments, followed by China (4%), Singapore (1%), and Israel (1%). One round out of ten is led by US investors, but they account for about one quarter of the capital raised by European scaleups.”

 

FINTECH DRIVES THE TECH INDUSTRY IN EUROPE

 

Out of the $22B invested in 2017, approximately $4.7B (about 20% of total) was invested with Fintech scaleups, a number that’s three times more than last year. 33 new Insurtech scaleups were tracked in 2017 and collectively they raised $210M. Agritech, Artificial Intelligence & Big Data, Autotech and Gaming are all present in a group that doubled investments in 2017 when compared to 2016.

 

A LAND OF SMALL SCALEUPS
In 2017, only 48 scaleups (2.4% of the total) crossed the $100M bar of capital raised and turned into “Scalers” for a total of 134 scalers nowadays in Europe (they were 86 in 2016). They cumulatively raised slightly close to $37B that is less than half of the total capital made available to European tech scaleups. 5 companies raised more than $1B in funding (or very close to it). These so-called “Super Scalers”, cumulatively managed to raise about $8B, 10% of the overall funding secured by the European scaleups.
That said, not counting the Scalers, Europe is land of “small” scaleups. 76% of scaleups (4,231 out of 5,596) raised between $1 and $10M attracting only $13.5B, the 16% of the total investments made available to European scaleups. 22% (1,228 scaleups) raised between 10 and 100M securing slightly less than $33B (the 39% of the total).

 

SEP ELITE TECH SCALEUP 100

 

The first 100 have been just unveiled: today, during the second SEP Scaleup Summit taking place at the London Stock Exchange in London, Mind the Bridge in collaboration with ELITE as part of Startup Europe Partnership (SEP), launched the “SEP ELITE Tech Scaleup 100” ranking, the index of the Top 100 tech European Scaleups.

 

Inclusion in the ranking is based on an algorithm that factors capital raised by the company since inception and qualitative parameters (such as employee growth, competitive position, IP and trademarks, traffic growth, sentiment analysis, M&A activity), analyzed in partnership with AI startup Zirra. The weight of the qualitative component will be increased over time, as more parameters are added and data is collected and increasing the accuracy and training of the AI models.

 

“Through this new Index we aim to provide international visibility to the best European tech companies by tapping into the analytical methodology we have developed in these last few years with Startup Europe Partnership. Currently the ranking for the top 100 European tech scaleups has been unveiled. We plan to issue the SEP ELITE Tech Scaleup 250, SEP ELITE Tech Scaleup 500, SEP ELITE Tech Scaleup 1000 in the incoming months.” – commented Alberto Onetti.

 

 

Here the full dedicated press release.

CONTINUE READING

European Innovation Day – Where Europe meets Silicon Valley

Drums are rolling for the IV edition of EID – European Innovation Day, the European Digital Conference in Silicon Valley, organized by Mind the Bridge and planned for September 11th. 

Central event of the SEC2SV Week (9-15 of September), EID-European Innovation Day is a thought-provoking, inspiring conference at Computer History Museum (almost 700 attendees registered in the 2017 edition) that brings together the current/future EU Unicorns and EU policy makers to meet the Silicon Valley digital economy stakeholders.

The SEC2SV Week will continue with follow-up meetings and parallel agenda for the different stakeholders. Silicon Valley counterparts for the meetings/events usually include government officials, senior execs from Facebook, Google, Uber, Airbnb, GE, representatives from the investors (Andreessen Horowitz, Felicis, Greylock, Social Capital, SoftechVC, USV, Y Combinator, RocketSpace, 500 Startups) and academic (Stanford, Berkeley, Singularity University) community.

Hot topics of 2018 edition will include:

  • GDPR: Privacy and Data Storage/Transfer
  • ICOs (Initial Coin Offerings) and its and CryptoCurrencies Regulations
  • European Economy of Innovation in Silicon Valley
  • Startup M&A

First confirmed speakers unveiled:

  • Peter Arvai, CEO and co-founder, Prezi
  • Pēteris Zilgalvis, Head of unit, DG Connect, European Commission
  • Kristin Schreiber, Director COSME programme, DG Grow, European Commission
  • Tim Draper, partner, Draper Associates
  • Sorin Moisa, MEP, European Parliament
  • Adam Sterling, executive director of the Berkeley Center for law and business
  • Sabrina Ross, international privacy and security expert
  • Martin Rauchbauer, co-director, Open Austria
  • Georg Fuerlinger, co-director, Open Austria

Looking for the next Unicorns!

Top European scaleups aiming at expanding operations to the US market will be selected to join the event.

Minimum requirements to be considered as a Scaleup:

  • to have at least 10 employees as of 3 years ago in the last 3 years
  • to be growing more than 20% year-over-year in revenue, employees, or user-base.

Applications end on July 1st. Registrations to the event HERE.

CONTINUE READING

Search begins to find Europe’s 25 Corporate Startup Stars of 2017

Search begins to find Europe’s 25 Corporate Startup Stars of 2017

March, 22nd – The hunt is on to find Europe’s 25 Corporate Startup Stars of 2017 with nominations opening on  Wednesday 22nd March. The ranking, run by advisory firm Mind the Bridge and innovation foundation Nesta, will recognise Europe’s top “startup-friendly” corporates. The scheme takes place under the European Commission’s Startup Europe Partnership initiative.

NOMINATE

Judges will award companies that have gone the extra mile to establish mutually-beneficial partnerships with startups – whether through favorable procurement terms, partnerships, accelerators, direct investment, mentoring, intrapreneurship schemes, competitions or other dedicated internal programmes. Nominations will be judged by an expert panel that is chaired by Sherry Coutu, author of The Scale-up Report and angel investor.

In 2016 Cisco was crowned as the most startup friendly corporate in Europe at the Startup Europe Summit in Berlin as a result of its unique approach to partnerships and investments through its Cisco Entrepreneurs in Residence (Cisco EIR) corporate venturing programme. Runners up included Rabobank and Unilever.

Nominations close on Wednesday 12th April 2017 with the 25 stars and final ranking revealed in Autumn. Startups, scale-ups, startup supporting organisations, mentors, and those who have witnessed examples of good corporate-startup collaboration will be asked to nominate the corporates that are offering the most effective support. Self-nominations are not considered, but corporates are encouraged to ask their startup network to nominate them. Last year nominations were crowdsourced in a similar way and over 100 nominations were received.

Andrus Ansip, Vice-President for the Digital Single Market, European Commission, says: “Cooperation between corporates and startups speeds up new business models and innovation. It is a key action to strengthen our ecosystem. Europe’s 25 Corporate Startup Stars is an inspiring European step forward. Celebrate successes, embrace failures; let’s speed up the learning curve on a bigger scale.”

Alberto Onetti, Chairman of  Mind the Bridge, comments: “Starting new innovative businesses is not enough. We need European startups that are able to scale up in Europe. Corporations are front and central in this process. They can provide business opportunities as well as capital and exits. SEP 25 Corporate Startup Stars is aimed at showcasing best practices and role model how the corporate-startup collaboration might benefit both sides.”

Chris Haley, Head of Startups and New Technology Research at Nesta, comments: “Collaboration between corporates and startups, if done right, can bring tremendous benefit to both. Startups can access invaluable resources and market insight which can help them scale, whilst for established companies, such collaborations offer an important mode of innovation – as well as subtler benefits like cultural change. However, it is hard to get it right. We believe that the organisations doing this well should be recognised as trailblazers, and hope that they inspire others to follow suit.”

To read the original article, please click here

CONTINUE READING

Startup Europe project Welcome takes startups to Uprise Festival, Dublin!

Eight top early stage startups from across Europe travelled to Dublin last week to attend Uprise Festival. These startups are part of Startup Europe project Welcome’s  ‘EU Roadshow’, where selected startups attend various events across Europe and spend 3 weeks in Silicon Valley.

Dublin was the final event for these startups who have visited Silicon Valley, Berlin & Milan earlier in the year and South Summit in Madrid earlier this month.

The trip to Uprise began with the official pre-event, Startup Grind which took place in Dublin’s historic city hall. Startup Grind began with a short introduction from David Scanlon who has worked with startups in Dublin in many roles and is currently Venture Investment Leader with NDRC. David then introduced Sean Blanchfield.

Sean Blanchfield is CEO and co-founder of PageFair, the company at the forefront of the digital adblocking debate. He co-founded his first business, Phorest, while still an undergrad at TCD, exiting in an MBO 2 years later. In 2003, he dropped out of a PhD to co-found DemonWare.

DemonWare created P2P technology for video games, and helped drive the mainstream popularisation of multiplayer video gaming until its acquisition by Activision Blizzard in 2007.

Today, PageFair has been integrated on over 5000 websites, and is used by many leading international publishing brands. Sean is a well-known figure in Irish technology, and is a frequent speaker, panelist, columnist, and occasional mentor and investor.

Sean gave a very interesting talk about his journey in founding these companies and the lessons he has learned along the way. This talk was followed by networking during which the startups got to meet people from the local startup ecosystem.

Next morning the startups arrived at the Uprise Festival in the RDS for an early appointment with 4 mentors from Google. These mentors specialised in areas such as search quality, marketing, export and tools development and the startups gained a lot from these sessions.
img_20161020_104922

img_20161020_102747

Next up was a matchmaking session organised by Welcome partners Mind the Bridge and DCU Ryan Academy.  Startups were matched with corporates and investors for quick, intensive meetings to pitch their startups (read more here!).

img_20161020_120245

img_20161020_120752

img_20161020_122512

Corporates and investors included:

  • Brian Quinn – Intel
  • Joe Perrott – PCH
  • David Bowles – Delta Partners VC
  • Stefano Francavilla – Growing Capital
  • Ian Lucy – Lucey Fund

Three of the startups exhibited at Uprise, Solo, Toursnapp and Link Fish and reported great interest in their booths.

Following an afternoon of networking, talks and workshopsat Uprise, the startups headed to the LaunchBox incubator for an afterparty with local Dublin startups.

The trip to Dublin was very successful with great feedback from the startups.

The startups were:

  • GirlCrew (Dublin) a global community for women
  • Link.Fish (Berlin) a bookmark manager that allows people to work with the information behind URLs
  • Replex (Berlin) a service for IT teams that enables them collecting critical information on all infrastructure assets both physical and virtual
  • Solo (Milan) a virtual POS that lets merchants accept credit and debit card payments
  • SwiftComply (Dublin)a platform solution for Fat, Oil and Grease compliance in the food service industry
  • TourSnapp (Berlin)a service that applies the concept of Smart cities to cultural tourism
  • Up to Seven (Madrid) a social network that enables foodies to share recipes and suggestions
  • CloudRoom (Madrid) a Cloud-Based Learning Platform that enable the integration of Massive Open Online Courses (MOOC) into the corporate world

 What they said

What the startups enjoyed most about this event:

Talking with the people that came to the stand!

All the chances to have 1-on-1 meetings 

What was most helpful for the startups:

People loved the idea!

The feedback that I received!

About WELCOME

WELCOME is a project under the Startup Europe initiative that aims to build a pan-European tech startup ecosystem. To that end, Welcome links startups from five vibrant EU ecosystems — Berlin, Dublin, Madrid, Milan and Salamanca, to customers, VCs, business angels, corporates, mentors and other startups. The project targets aspiring entrepreneurs as well as early and late stage startups with activities enabling them to grow across borders and access the right combination of finance while helping corporates identify the best talents.

This competition is part of Welcome’s Europass Programme

AboutUprise

Our festival was founded by Paul O’Connell an Irishman living in Amsterdam. Through his stubbornness and focus we are moving into our fourth festival to help young companies grow even faster.

UPRISE is the largest startup festival in Europe. We focus on growth and visibility for Startup Talent. Connect with universities, companies and the public in our one day festival. In over 1 year we have brought 15,000 visitors to talk, connect and invest in young vibrant companies from our base in Amsterdam. Now in October 2016 we base from Dublin bringing Europe to this great city.

CONTINUE READING

‘Speed dating with Investors with Cars’ with Welcome’s partner Mind the Bridge, October 15th at Betapitch, Berlin.

On 15th October, an interesting event was happening in Berlin. Numerous startups were getting into black cars and driving around with investors. This was, in fact, a very clever startup-investor matchmaking event.

As you probably know by now, Welcome Matchmaking events happen within larger events and aim to act as a ‘speed-dating´ sessions to connect carefully selected startups and investors. However, this particular event, ‘Speed dating with Investors with Cars’ was the genius brainchild of Startup Europe Welcome project and their partner Mind The Bridge at BETAPITCH global & Investors day.

In this event, shiny black Audi cars picked up startups to pitch their idea to investors while taking a ride around the block. Like a new version of the ‘elevator pitch’, startups had to get their idea across in limited time, and had the opportunity to make connections one-on-one.

In this event, 50+ 1:1 meetings took place, all whilst taking a drive around Kreuzberg.

welcome mind the bridge startup europe investor startup matchmaking in cars

And this was not all; in fact a parallel qualified networking session was going on at the same time indoors. At this session, 30+ matched meetings took place, and as you can see from the photos, lots of new connections were made.

welcome mind the bridge startup europe investor startup matchmaking in cars

welcome mind the bridge startup europe investor startup matchmaking in cars

welcome mind the bridge startup europe investor startup matchmaking in cars

welcome mind the bridge startup europe investor startup matchmaking in cars

welcome mind the bridge startup europe investor startup matchmaking in cars

welcome mind the bridge startup europe investor startup matchmaking in cars

Feedback from the event included congratulations for its great organization and praise such as the participants loving the originality of the event, with many positive highlights.

The next Welcome and Mind The Bridge networking event is set to take place at Uprise Festival, Dublin on Thursday 20th October. See you there!

welcome mind the bridge startup europe investor startup matchmaking in cars

CONTINUE READING