Four Irish scale-ups added to European tech map
French start-up and investor association France Digitale together with more than 30 of its European partners announced the second edition of the Leading European Tech Scaleups (LETS) in Paris today.
LETS is the only pan-European mapping of innovative companies that make at least €10 million in global annual turnover, founded after the year 2000, and sell their product or service beyond their domestic market.
Scale Ireland is among the 32 start-up organisations supporting the Map, which features 251, an increase from 135 last year. Recognised as flag bearers of European innovation globally, four Irish companies are among the companies featured: Fenergo, Teamwork, Tines and Wayflyer.
The LETS have a global footprint: 70% (174) of them have customers globally (beyond Europe), with the US featuring as the top export market. The most populous European countries (France, UK, Germany) follow closely. Japan and Australia complete the top three of non-European export markets.
Internationalisation patterns vary. Several LETS expand to their neighbouring countries first, then to the US (it’s the case of many companies in software, finance, and health), while others jump straight from their domestic market to the US. Most companies in gaming, industry and services are global from day one, while scaleups in sectors involving last-mile logistics, like retail, transport and energy, tend to remain localised in Europe.
The LETS are great job creators: they employ on average some 415 people and plan to recruit more. Of 72 respondents, 94% declared having job openings: 53% are seeking between 11 and 50 talents and another 18% between 51 and 100 talents.
The LETS also stand out as solid partners for their customers and investors alike: 60% of them are already profitable and the remaining 40% expects to be so in the next three years.
Commenting on this year’s LETS, Maya Noël, managing director of France Digitale, said: “With LETS we celebrate the international success of companies that are flag bearers of European innovation worldwide. But we also highlight the work that remains to be done so that more companies can follow in their steps: completing the Single Market and achieving a fully-fledged Capital Markets Union.”
Scale Ireland CEO, Martina Fitzgerald, said: “Scale Ireland is delighted that the LETS 2024 mapping recognises the success and innovation of some of Ireland’s most high-profile scaling companies, including Fenergo, Teamwork, Tines, and Wayflyer. They are global leaders in their sectors, and their inclusion in LETS showcases not only their reach, but also Irish innovation and entrepreneurship throughout Europe, the US and beyond. LETS also highlights our strong partnership with France Digitale, which shares our mission to support and promote indigenous tech companies to become global leaders.”
TechCentral Reporters
Subscribers 0
Fans 0
Followers 0
Followers