Bitrise

Sep 20, 2023

20 European start-up associations join forces to publish LETS 2023, the mapping of 135 Leading European Tech Scale-ups that are succeeding globally 20 September 2023 20 European start-up associations join forces to publish LETS 2023, the mapping of 135 Leading European Tech Scale-ups that are succeeding globally Europe is a formidable breeding ground for innovation, home to many companies and technologies that have revolutionised the way we consume, work, communicate... To spotlight these leading companies, 20 start-up associations from 16 EU countries and Ukraine have come together on the initiative of France Digitale to launch LETS: Leading European Tech Scale-ups. This one-of-a-kind mapping highlights 135 European made companies that stand out for their international reach and the  sustainability of their business model, rather than their mere valuation. The first edition of LETS was revealed on stage at FDDay in Paris with 10 European associations and dozens of the scaleups featured in the mapping. European tech scale-ups are already global champions There are many ways to assess a startup’s success beyond its market valuation, which is why the 20 European associations have taken a different approach to traditional startup ranking by considering the following, alternative metrics: Foster European innovation by developing innovative solutions for today’s problems; Create value in Europe by having the headquarters and at least 50% of the workforce in the EU; Rock the market at home and abroad by making at least 15 million EUR yearly revenue in at least two markets (including their country of origin), generating at least 1 million EUR yearly revenue in each of these markets. Based on this criteria, the 20 associations have identified 135 companies that are flag-bearers for European tech internationally. In just 10 years - their average age - more than half of them (89 scaleups) have scaled their business beyond European borders and combined have created an estimated 80,754 jobs. This part can be completed with national figures and highlights of your national champions. What remains to be done for European Tech The numbers speak for themselves: Europe has a strong tech industry capable of winning customers worldwide. However, there is still a significant challenge to accelerate this trend and make more companies join the list. With LETS, startups associations pledge for a strong support for European innovation with concrete measures: LET’S make the European Company status accessible for startups: today, only some 9,100 companies are registered as Societas Europaea SE, the majority being listed multinationals. As this status helps companies to be created and operate according to the same rules in the Single Market, its requirements should be simplified to enable more companies, notably startups, to benefit from it. LET’S bet on European tech: Startups and SMEs have the lowest participation rate to public procurement in the EU (29.1%). Europe should transform its commitments into action and support innovative procurement not only with guidelines but also with concrete, long-term investments in European technologies for the twin transition. LET’S boost Europe’s attractiveness: The European equity market is less than half the size and the debt market less than a third of the American market even if the two economies are similar in size. As a result, many successful European companies list on NASDAQ or other foreign stock exchanges. The EU needs to accelerate its plans for a Capital Markets Union so that its leading scale-ups can go public in Europe at internationally competitive conditions. LET’S introduce the LETS 2023 Denmark: Airtame, Dixa, Labster, Leapwork, Lunar, Pleo, Templafy, Veo Estonia: Bolt, Skeleton Tech, Swappie, Veriff Finland: Aiven, ICEYE, Relex Solutions, Supercell, Supermetrics France: 360Learning, Adikteev, Agriconomie, Akeneo, Anycommerce, Back Market, BioSerenity, BlaBlaCar, Brigad, Brut, Cafeyn, Campings.com, Certideal, Crosscall, Devialet, Doctolib, Exotec, Geosat, GoJob, HR Path, iBanFirst, Klaxoon, Le Collectionist, Ledger, Libon, LumApps, Malt, ManoMano, Mirakl, MYM, OpenClassrooms, Partoo, Qonto, Sarbacane, Shift Technology, Skeepers, Smallable, Sorare, Spendesk, Superprof, Veepee, Vestiaire Collective, Virtuo, Wifirst, Withings, Younited, Yubo Germany: 1Komma5, Anydesk, Billie, Clue App, CoachHub, FINN, Getsafe, IDNOW, Isar Aerospace, LeanIX, Lingoda, Moss, Pitch, Spryker, Sunfire, Urban Sports Club, xentral Hungary: Bitrise