Scale-Up Europe gathers 150+ tech ecosystem members to dive into building global tech leaders in Europe
Not even the pandemic could slow down the overall positive trend observed in fundraising by European startups, with around $41 billion invested in 2020 according to Atomico. Going forward, more needs to be done to enable the emergence of bigger homegrown financiers within Europe. Purpose and tech for good are set to become key drivers for investment into Europe in the coming years, and there remain challenges around creating European exit opportunities for VCs, including by growing the local IPO ecosystem. The role of state money in driving European startups will be addressed.
"We see more and more decacorns. It was very rare a few years ago.""
"We still need to improve some elements of the funding chain, especially in the stock market.""
This challenge is about making careers in tech and entrepreneurship accessible to everyone, regardless of origins and social background. There is a specific focus on female founders and ethnic minority founders, in order to set positive milestone precedents and make sure these founders get the attention they deserve. Attention will be given to reducing ‘Ivy League’ bias, as well as attracting foreign talent and encouraging mobility in the context of the rise of nomad workers.
"Attracting international talents is key for success. At Alan we have 20% of international talents in the team."
"The real challenge is to create internally an awareness about what is diversity."
Ersilia Vaudo Scarpetta
The fourth topic relates to promoting entrepreneurship in the scientific community and projects emerging out of the engineering space. Artificial intelligence, quantum computing and cybersecurity are among the fields that governments have listed as priorities for the coming years. Covid-19 has also intensified the spotlight on biotech, while mounting pressure to tackle climate change is also a key target for scientists and innovators. The priority is making investing in European deeptech startups more appealing to a broader pool of financiers.
"If we create great innovation, such as in Deep Tech, money will come by itself."
"We need to acknowledge how important #deeptech is. It's about turning fundamental research into breakthrough innovation: it's pricy and uncertain. We need to fund our research."
It doesn’t make sense for Europe to lead a tech-only development strategy, nor does a startup-only focus fit. At some point, startups and corporates need to come together if Europe is to leverage its innovation for economic growth. This involves apprehending different corporate-startup collaboration models and learning from global best-practices as well as overcoming culture clash and facilitating takeovers through M&A. It means encouraging breakthrough tech to promote technology transfers while helping players from the ‘old economy’ leverage the heaps of data they sit on.
"If we are able to create collaborations between startups and corporations very early, there is a real possibility to create the giants we are looking for in Europe"
"It's key for corporations to be able to bring new services and new models"
Belen Moscoso del Prado