The first 100 European tech scaleups have been unveiled 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.
Data from the last “Tech Scaleup Europe 2018” SEP Monitor presented in London on the occasion of the second SEP Scaleup Summit organized by Mind the Bridge and hosted by the London Stock Exchange, highlight that the Scaleup Europe ecosystem is finally growing. But the gap with other ecosystems remains huge.
“What’s wrong in Italy? It just moves too slow.”That was the blunt answer of Augusto Marietti during an interview a few years ago. Originally from Rome, Augusto is the CEO and co-founder of Kong (formerly known as Mashape), who just closed a $18 million round led by Andreessen Horowitz.
Europe is home to approximately 4,200 fast growing, high-tech companies that we refer to as “scaleups”. This distinction serves to separate this group from startups, i.e. to draw a line between early stage initiatives and real companies that are producing revenue and employment. If the count is restricted to only countries who are current members of the European Union, the number of scaleups goes down to 3,950 and the capital raised to $56B.
This SEP Monitor is a follow up to “Portugal Rising”, a report we published at the end of 2015, it gives an updated view of the ecosystem a year and a half down the line, and we are happy to
say the positive momentum has continued for Portugal. The scaleup scene in Portugal is extremely promising and gives hope to Southern Europe lagging scale-up ecosystems.
The European Innovation Scoreboard (EIS) says Finland is the best place for companies to find risk capital. Our recent research confirms that evidence. In Finland, we tracked 126 scaleups able to raise cumulatively $1B total in financing.
“Norway has been a bit of an underdog in the Scandiwegian startup scene for a few years. But in just a few short years has gone from been a pretty bleak affair to being a real – if nascent – startup ecosystem”. This is what Haje Jan Kamps wrote on TechCrunch last June1.