ecoSystems Connected to AcceLerate and Encourage European Union start-uPs with high Potential

Project Information

Scale-EU2p

Grant agreement ID: 780842

DOI

10.3030/780842

Project closed

EC signature date 22 December 2017

Start date 1 December 2017

End date 31 October 2020

Funded under

• INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)

Total cost

€ 1 513 612,19

EU contribution

€ 1 423 228,75

Coordinated by

SYSTEM@TIC PARIS REGION
France

Periodic Reporting for period 2 - Scale-EU2p (ecoSystems Connected to AcceLerate and Encourage European Union start-uPs with high Potential)

Reporting period: 2018-12-01 to 2020-10-31

Summary of the context and overall objectives of the project

DeepTech4Good (scale eup2) was a pionneering project focused on accelerating deep tech start-ups especially the ones mixing digital innovation linked with innovation embedded in hardwares.
The goal was to drag light and interest toward deep tech and accelerate deep tech potential unicorns through a better access to European markets.
4 B2B markets were targeted: health, industry 4.0 mobility and smart cities.
The project gathered 4 hubs: Austria, Bade-Wurtenberg, Catalonia, and Paris Region.

Prior to accelerating start-ups there were 2 objectives:
- getting interest to deep tech and its specificities
- selecting the start-ups.

Acculturing stakeholders was reached through a venture funds committee and through the participation of large events to discover use cases and ventures around challenges and pitching sessions.
The 4 Deep Tech 4 Good events

Selecting the start-ups was realized through contests adverstised on F6S and then enlarged to more start-ups.

The key objectives of the project, in supporting start-up acceleration, are:

1) Validating market strategy and tuning it with financial strategy
2) Reinforcing market leads by opening doors in hubs and in Europe - through direct contact, challenges and portfolio approach
3) Attracting private and public finance: getting funds both private and public to fuel the ventures

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

"The project set-up a dynamic of growth around 200 deep tech start-ups.
This massive number helped us to get funds to better understand the specifities of these ventures in which they were partly reluctant to invest at the beginning of the project.
The program thus as a pionnering program encouraged the use of the word ""deep tech"" and advertised through 4 events - on in each hub.
A dynamic was created around the 200 start-ups portfolio:
- investors' day in Paris
- collecting challenges to access market and obtain specifications for needs from major players
- job ads trough linkedin
This encouraged the search for public funded innovation projects and for more visibility (like events in Deep Tech week)
As necessary, we coached and review strategy especially when dealing with public funded innovation projects
32 start-ups got custom made acceleration."

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The KPIs of the projects were:
to create a dynamic around 200 start-ups portfolio. Our portfolio was 198 scale-ups
to lead to 30 successful fund raising. 53 raised funds with an average of about 2000 k€ raised.
to get ideas for 6 public funded projects and get 3 financed. 80+ were deposited and about 50 financed
to lead to 40 partnerships with major players - 100 partnerships were obtained especially through public funded projects.

dt4g-logo.jpg