Eu Startup Powerhouse Actionplan

Action Plan to Make Europe the new Global Powerhouse for Startups

Today’s situation
Startups and scaleups are key to Europe’s future economy and society. They are essential players to make the ambitions with respect to the European Green Deal and the European Digital Strategy a reality. Startups and scaleups are important in any innovation ecosystem that aims to deliver breakthroughs to the market. They are key in creating new jobs and sustainable European prosperity. Currently, EU27 boasts more than 80.000 startups of which 51 1 are unicorns. The investments raised by European startups was 41 billion US dollars in 2020, up from 36,6 billion US dollars in 2019. It has been reported 2 that during Q1 2021 27 innovative companies got a valuation of more than 1 billion US dollar in Europe, based on their latest funding round. At first glance, this is very positive news. However, a closer look reveals that only 13 of these companies were located in EU27 before the funding round, and that only 7 of them will stay in EU27 after the funding round, which paints a much bleaker picture. In the same period, the US produced 67 new unicorns.

Estonia: an EU best practice

Estonia has given birth to more unicorns per capita than any other country in the world. With 7 such companies for a 1,3 million population, this represents 1 case per 185.000 inhabitants. To put this in perspective: to achieve a similar feat, Germany would have to produce more than 400 innovative companies valued at 1 billion US dollars and France more than 300.

Main Themes

Theme 1: Definitions and data
Theme 2:
Talent

Theme 3:
Ecosystems

Theme 4: Policy advising to Member States

Download the Whitepaper

To achieve these ambitious goals, the group of independent ecosystem leaders called upon by Commissioner Gabriel to give voice to the innovation ecosystems in the making of future EU Innovation Policy recommends a series of concrete actions, grouped below in 4 main themes.
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