A new ranking produced by Mind the Bridge, in collaboration with ELITE, providing a list of the top 500 European tech scaleups on the basis of capital raised, is coming soon. This new ranking will be called SEP ELITE Tech Scaleup 500, as part of Startup Europe Partnership, and has been announced this morning in Milan in occasion of the first day of the SEP Scaleup Summit in Milan, supported by European Commission and opened by Michael Spence, winner of The Nobel Prize for Economics in 2001.
“In Europe, but above all outside Europe, we don’t have a clear perception of what’s happening at the forefront of innovation in the Old Continent. Actually, the truth is that in Europe we’re able to produce startups that able to grow up”, 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.”
The ranking is to be issued on a quarterly basis with the goal of regularly providing a snapshot of the European high-tech industry and showcasing the most innovative startups of the Old Continent that are scaling up. Inclusion in the ranking is based on the capital raised by the companies since inception, and it will be produced based on public information. The score is adjusted to factor revenue and revenue growth. For private companies, revenue will be factored only if disclosed by companies. Additionally, the score algorithm will be adjusted to factor the outcomes of the digital self-assessment tool Growth Compass.
Luca Peyrano, CEO of ELITE, added “Scaleup are companies with great ambitions and high growth potential. They will be the protagonists of tomorrow’s economy. This is why we are particularly happy to support the first edition of Scaleup Summit together with Mind The Bridge and with the patronage of the European Commission, with whom we share the objective of a dynamic European ecosystem that is conducive to growth and innovation, where entrepreneurial talents can find appropriate support and tools to accelerate their growth. ELITE’s mission is precisely to strengthen virtuous companies because of their unique innovative attitude, ability to create jobs and because they represent an extraordinary driving force for economic development for Europe.”
New Matching program for “midcaps”
During the Scaleup Summit, Mind the Bridge – in partnership with the European Startup Network (ESN) – also announced a new matching program aimed at supporting medium-sized European companies. The aim of the program is to bring the midcaps operating in traditional sectors closer to innovation brought by startups.
“The medium-sized companies operating in traditional sectors represent the backbone of European industry. It is key that they manage to open up to innovation before they are overwhelmed”, concluded Alberto Onetti.
Deep dives on 6 Industries
During the Summit Mind the Bridge has presented six deep dives on specific verticals, each one powered by a large corporate committed to supporting the development on these emerging areas. For each vertical Mind the Bridge provided in-depth research that on trends and areas of industrial application for the new technological platforms. Additionally, each vertical also had profiles for scaleups to note for the emerging technology. (SEP Scaleup on Watch).
1. Blockchain (Enel)
The blockchain vertical is supported by Enel during the Summit. There are 36 scaleups in the vertical that have been identified at European level, able to collect a total of $0.4B (excluding more than $1.7B raised via 446 ICOs). The applications for blockchain technology vary from banking and trading to utilities, logistics, healthcare, to ID verification and data protection (Law and Regulation).
Among the Scaleups on Watch there are: Electron, FlexiDAO, Juru, Next Kraftwerke, Powerpeers, Prosume, SettleMint, Uniquid, Xriba.
2. AI/ Machine Learning (SAP)
With regards the AI industry, supported by SAP, 267 scaleups have been identified, able to collect $0.7B in total. Among the key-trends for applications of the technology there are horizontal and vertical applications across nearly every industry (Services, Automation, Decision-making).
The Scaleups on Watch list for AI/Machine Learning is one of the largest: Arago, Buzzoole, Competitoor, Elemize, Eliq, Hutoma, Indigo, Innaas, Moberries, Mosaicoon, Precisely, Replex, Rulex, Synerise, Traity.
3. Digital Construction & Infrastructures (Acciona and Autodesk)
In the Digital Construction and Industry 4.0 industry, supported by Acciona and Autodesk, we find 444 scaleups in Europe with $10.2B raised. The new trends look at sustainability, 3D printing, virtual reality, augmented reality, but also all the IoT forms, from sensors to drones up to robotics and Big Data.
The scaleups selected for the Summit in are: Alleantia, Archon, GlassUp, GIPStech, Ilocator, Stream Technologies, Sunamp, CoeLux, Flyability, Hemav, Triamant, Viloc.
4. Insurtech (Deloitte)
In the Insurtech industry, supported by Deloitte, 106 European scaleups have been identified, for a total of $1.8B capital raised. The future of Insurtech seems led by AI, with some early examples of implementation in customer support, Big Data analytics, security and fraud detection. There are also important applications in the regulation space (RegTech, ID Verification and Protection), as well as in the health, home and mobility industries.
The scaleups selected for the Milan Summit are the following: Air, Avanix, DriveK, Empatica, GoodBuyAuto, Imaginary, Jojob, Movalyse, Pedius, Stream Technologies, Yolo, Woolf Bike.
5. Foodtech (Deloitte with the support of Seed&Chips)
In Foodtech, supported by Deloitte, 160 Scaleups have been identified in Europe, for total $12.7B raised. Among the key trend we find Big Data (with Analytics, Agtech), IoT (with Sensors, Drones & Robotics), Online/e-Commerce (Distribution channels) and new food products such as synthetic proteins..
Among the Scaleups on Watch there are: Connecting Food, Cortilia, Ederna, Hexagro, Mosameat, MyFoody, Novolyze, Nutribees.
6. Fintech (Banca Sella and Mediolanum)
In the Fintech industry, supported by Banca Sella and Mediolanum, 569 scaleups have been identified in Europe, for a total of $13.8B capital raised. The most actively growing verticals are AI (with Customer Support, Predictive Technologies, Robo-adviser), Interactivity & Speed (with Blockchain and Bitcoin, RegTech, Open APIs) and Mobile (Mobile Banking, Peer to peer investments and Savings and Investments).
Our Scaleup on Watch list includes companies such as: Banksealer, Borsadelcredito, Satispay, Soldo, Growish, SettleMint.
SEC2SV e SEC2IL, SEP missions 2018
The dates of the two most important European SEP missions in 2018 have been announced: SEC2IL (Startup Europe Comes to Israel) will take place May 2-4th while SEC2SV (Startup Europe Comes to Silicon Valley) will be held from the 9th to 15th of September.
The closed-door event in Milan will continue for the ~250 participants both today and tomorrow with around 350 1:1 meetings already scheduled and surely more to come.