If the 2017 edition of the study ” State of European Tech ” Atomico investment fund pushes the nail on the dynamism of the Tech in Europe in terms of figures, the reality is more mixed.
Thus, the set of indicators are green, starting with a record investment of more than 19 billion dollars (14.4 billion in 2016) and the multiplication of investments of more than 50 million, like Doctolib ( $ 72 million), ManoMano ($ 71 million), Younited Credit ($ 50 million), Blade ($ 60 million), Actility($ 82 million), Ivalua ($ 75 million), led by OVH ($ 474 million in debt). Atomico highlights some companies, which the fund invests, such as Picnic in the Netherlands (110 million dollars) or Cabify in Spain (100 million dollars). Despite the valuations that tend to take off, 7 start-ups now join the club of more than $ 1 billion companies, including PurpleBricks (UK), Rovio (Finland), Outfit7 (Slovenia) . They are now 41, against 105 in the United States. There is still some way to go …
Large companies boost support for start-ups
European particularity, the investment of large companies in start-ups jumped with 637 participations in many sectors (finance, health, transport …). However, it remains to be seen how this dynamic comes out of the communication required by listed companies to value this risky investment with their shareholders.
Deep Tech is also in the spotlight with a 40% increase in investment in companies such as Graphcore, Improbable, Lilium and Unity.
$ 2 billion injected into start-ups in France
For its part, France records a record of more than $ 2 billion invested in start-ups, with the mechanical support of Bpifrance, whose reservoir benefits all projects, good and bad. With 753 investments to date, France exceeds the United Kingdom and Germany. However, in terms of volumes invested, Britain dominates Europe with more than $ 5 billion invested, against 2.5 in Germany, figures questionable if we integrate the debt capacity, in the image of OVH has favored this less expensive method of financing.
Beyond the numbers, Atomico’s study does not present a European dynamic, each country playing its national card, as illustrated by the FrenchTech label in France. In the end, no leader emerges from the pack. For Europe, the main challenge now is to emerge world champions capable of shining like a Facebook, Amazon or Google.