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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - SEP 2.0 (Startup Europe Partnership 2.0)

Teaser

There are barriers to scaling up in Europe. Notably:The Report on Startup Transatlantic M&A produced by MIND THE BRIDGE in partnership with Crunchbase shows that European scaleups get acquired too early (36% are less than 5 years old) and with a 45% discount compared to...

Summary

There are barriers to scaling up in Europe. Notably:

The Report on Startup Transatlantic M&A produced by MIND THE BRIDGE in partnership with Crunchbase shows that European scaleups get acquired too early (36% are less than 5 years old) and with a 45% discount compared to American scaleups. Furthermore, 44% of European scaleups are acquired by US-based corporates. European corporates are not in the forefront of open innovation: the report shows that the first European company in the ranking of the most acquisitive corporates is only 33th. Extending the analysis to procurement and other forms of corporate-startup collaboration, still a US company leads the ranking of corporates working with European startups.

The number of European scaleups going public in Europe is still too small. The latest SEP Monitor shows that only 2% of European ICT scaleups go public. The ones that decide to go public in the US raise 6 times more capital than the ones that IPO in Europe. If we consider IPOs of European scaleups, over $100M, 45% are completed in the US.

The growth process of scaleups is too much venture-capital-driven. In turn, venture capitalists depend on opportunities to exit their initial investment, returning capital for reinvestment in new firms. Properly functioning primary and secondary markets are therefore key to boosting angel and VC investment.
For VC-backed companies, trade sales to corporates are significantly more common than IPOs. In Europe, VC-backed exits represented less than 2% of all exits during 2010-2014; this compares with an average rate of over 13% in the US for the same period.


SEP 2.0 supports European scaleups to grow internationally with three main activities:

• Matching
• IPO Conduit
• International Showcase

Work performed

1.2.0 Work Package 0: Ethics
The Consortium has worked to implement GDPR policies.

1.2.1 Work package 1: Project Management and Quality Assurance
In this work package, the Consotrium has:
• Oversee the coordination of the project.
• Ensure compliance with the legal, contractual, and financial requirements of the EC.
• Provide efficient and timely organization of key activities and deliverables.
• Manage project resources: budget, personnel resources, and project outcomes.
• Ensure that the outcome of the project meets the technical objectives and challenges, and the set of quality objectives.
• Define a plan to assure effective collaboration with other Startup Europe projects and to suppor the Startup Europe initiative.



1.2.2 Work package 2: Scaleup Filtering

In this work package, the Consortium has:
• Engage startup networks all over Europe (targeted 28 countries).
• Identify high-potential scaleups and source basic profile information.
• Check validity and business potential for the identified scaleups.
• Contact scaleups fitting the criteria to engage and gather additional profile information
• Assess and rank the scaleups based on their fit with the business opportunities
• Prepare the selected scaleups for the SEP 2.0 opportunities


1.2.3 Work package 3: Scaleup Summit

In this work package, the Consortium has:
• Organize a series of exclusive summits hosted by different European stock exchanges.
• Bring together scaleups, corporates, and investors in an high-level exclusive location.
• Disseminate opportunities for the growth of European scaleups and prepare them for IPO and exit opportunities.
• Prepare European corporates on the opportunities offered by open innovation strategies and activities.
• Connect scaleups to corporates by organizing 1:1 meetings.
• Expose scaleups to investors through pitching activities and 1:1 meetings.
• Facilitate networking among scaleups and expose them to peer-to-peer business opportunities.
• Organize SEP Investors Forum workshops where the European investors will get together to share best practices and provide insights about public policy and regulation.



1.2.4 Work package 4: Matching

In this work package, the Consortium has:
• Help to foster the development of a real pan-European ecosystem and favor cultural cross-fertilization, by connecting scaleups, corporates, and investors from different European countries.
• Introduce the best European scaleups to corporates and investors through 1:1 matching session and qualified introductions.
• Support the growth of European scaleups by offering procurement, investment, and acquisition opportunities.
• Facilitate exit opportunities.
• Expose corporates to off-the-radar grassroots innovations and cross-industry fertilization.
• Foster the creation of a pan-European community of investors


1.2.5 Work package 5: IPO Conduit

Through this work package, the Consortium aims at:
● Increase the scaleups’ chances for a successful exit
● Stimulate financing through European stock markets
● Prepare companies for late stage investments and IPO
● Provide access to the right combination of finance and diversify the investment sources


1.2.6 Work package 6: International Exposure

In this work package, the Consortium has:
• Provide opportunities of international visibility and exposure for European scaleups.
• Enlarge the pool of international investors that get in contact with European scaleups and join SEP Investors Forum.
• Organize Scaleups’ Roadshows during the main tech conferences and events across Europe.
• Organize the SEC2IL annual mission.
• Leverage on the activities organized by the SEC2SV annual mission in order to promote European scaleups in Silicon Valley and the US.


1.2.7 Work package 7: Identifying and sharing European business scaleup best practices

In this work package, the Consortium has:
• Inform and assist scaleups in choosing between dif

Final results

Startup Europe Partnership 2.0 (SEP 2.0) aims at supporting European scaleups to ‘go to market’ by providing qualified opportunities. Specifically, it plans to address three main areas:

Increase exits and support promising European tech scaleups to access IPO opportunities.
Match scaleups with established companies in order to generate revenue, to access new markets, and to scale.
Expose scaleups to international investors via reports, roadshows, introductions, and participation in international events.

Going forward, the Consortium is about to organize the SEP Scaleup Summit in Budapest (October 4-5).
In November, the Consortium will launch its report to picture the state of open innovation across Europe as well as organize the Corporate Startup Stars Award Ceremony.
Finally, the Consortium is partnering with new Stock Exchanges to plan next year calendar of activities.

Website & more info

More info: https://startupeuropepartnership.eu.