Horizon 2020 SME Instrument. Performance of the portfolio - Sept.2017

Transcription

1 Horizon 2020 SME Instrument Performance of the portfolio - Sept.2017

2 Key takeaways new exits: 8 acquisitions - 3 IPOS 250 million in private equity funding (out of 697M in total) 1 billion in total private funding reached (since the start of the programme) Each 1 SMEI funding matched with 1,44 of private investment

3 SME Instrument in numbers companies in our portfolio 608 in Phase 2 1.1billion committed 990 million in grants over 500 k 4-7% success rate ES IT UK DE FR NL SE DK IL FI IE PT NO PL AT HU SI EE BE IS EL LT TR CZ LV SK BG RS CY HR RO CH LU MT UA AI FO

4 SME Instrument companies by industry 25% Healthcare, cleantech and 20% energy remain the top 15% industry sectors 10% 5% 0%

5 Exits Top-15 accelerators in EU and Europe in terms of total exits With 18 exits in total (12 acquisitions and 6 IPOs) SMEI is the second best performing accelerator in Europe and this only after 3,5 years of existence

6 Exits - acquisitions Name Phase Country Industry Date Acquirer Comnovo 1 DE hardware 07/17 Linde Material Handling (DE) PIDSO 1 AT ICT 07/17 Riedel Communications (DE) Carriots 1 SE IOT 06/17 Altair (US) Hydro International 2 IE Wastewater 06/17 BHSL (IE) Finesse Medical 2 IE Biomaterial 05/17 Avery Dennison (US) PayPlug 2 FR Fintech 04/17 Natixis (FR) Amminex 2 DK Transportation 03/17 Faurecia (FR) GiGiGo 2 ES Software 02/17 Sividon Diagnostics 1 DE Manufacturing/ Health Care Digital Dimension/ECONOCOM (FR) 05/16 Myriad (CH) Fianium 2 UK Laser 03/16 NKT photonics (DK) 12 acquisitions in total (8 new ones in 2017). Among the acquirers there are 4 FR companies, 3 DE companies, 2 US, and 1 from CH, IE, DK. Multiposting 2 FR HR 10/15 SAP (DE) Ubeeqo / Carbox 1 FR Transportation 01/15 Europcar (FR)

7 Exits - IPOs Name Phase Country Industry Stock Exchange Date Bonesupport 1 SE HealthCare Nasdaq First 06/17 North, Stockholm Mantex 2 SE Biomass /bio Nasdaq First 05/17 energy North, Stockholm Biovica 2 SE Healthcare Nasqad First 03/17 North, Stockholm Finepart 1 SE Production technologies Svenska aerogel 2 SE Manufacturing Cleantech Immunovia 2 SE Medical Equipment & Devices AktieTorget, SE 12/16 Nasqad First 12/16 North, Stockholm Nasdaq First 12/15 North, Stockholm 6 IPOs in total (3 new ones in 2017) All from Sweden, IPOs mainly on Nasdaq First North

8 Total private funding attracted 1 b Private equity, debt, exits* Each 1 SMEI funding matched with 1,44 of private investment * Only disclosed deals, the full amount is potentially much higher

9 Private equity investments 697 M Invested in 119 SMEI companies 697 M 445 M 273 M 141 M 2 M 43 M 1/01/ /07/ /01/ /07/ /01/ /07/201 Source:

10 Millions Private equity investments Cyclical trend in investment with peaks in spring and autumn

11 Million Private equity investments by industry

12 Million Private equity investments by revenue model

13 Top 10 investors in SMEI companies Top Investors - by number of investments # Investor number of investments amount invested 1 Crowdcube m 2 Enterprise Ireland m 3 Industrifonden m 4 Kernel Capital m 5 Wayra 7 4.7m 6 Lifeline Ventures Oy m 7 High-Tech Gründerfonds (HTGF) m 8 Startupbootcamp 7 2.3m 9 VTT Ventures m 10 Seedcamp m # Investor Top Investors - by amount invested number of investments amount invested 1 Industrifonden m 2 Investo m 3 SV Health Investor m 4 Sapphire Ventures (formerly SAP Ventures) m 5 Polaris Partners m 6 OrbiMed m 7 Adams Street Partners m 8 Vy Capital m 9 Industry Ventures m 10 Gilde Healthcare m

14 Valuations* number of companies: 215 total valuation: m average valuation: 17-25m *Valuations are based either on last recorded public valuation or a x4-x6 multiplication of the last VC round amount (on a basis that a VC investment usually represent between 15%-25% of equity)

15 Top 10 Valuations Company valuation ( m) HQ Revenue Model Industry Phase Arcam 609 m Sweden manufacturing Medical/healthcare Ph2 Arralis m Ireland subscription security;transportation Ph2 Arsanis m Austria manufacturing medical healthcare Ph1 BONESUPPORT 118 m Sweden manufacturing medical healthcare Ph1 AlphaSense m United States subscription fintech;analytics Ph2 Kiosked m Finland commission;subscription marketing Ph2 Amminex 100 m Denmark manufacturing cleantech Ph2 Itamar Medical m Israel manufacturing healthcare Ph1 PragmatIC m United Kingdom manufacturing iinternetofthings;semiconductors Ph2 Agendia m Netherlands manufacturing medical healthcare Ph2 Ultrahaptics m United Kingdom manufacturing analytics;developer tools Ph2

16 Top 10 App downloads (ios & Android) # Company ios + Androïd 1 Degoo Augment SocialDiabetes Plume Labs Monese Xhockware Acast CosmEthics Smartick Ubeeqo / Carbox 56638

17 SME Instrument contribution to companies success 4 case studies

18 SME Instrument as a funding bridge MANTEX, Sweden: bio-energy thanks to innovative biomass scanner In 2014, Mantex experienced cashflow issues and private investors pulled out. With the 1.6 million SME Instrument grant, Mantex managed to restructure using the funding as a bridge and rebuilt value with this project. In May 2017, MANTEX successfully lists on NASDAQ First North

19 SMEI as a springboard to EIB financing Oy Skeleton Technologies, Estonia: building the largest ultra-capacitor factory in Europe Skeleton Technologies got a grant of 2.5 million in Since then it raised a Series B of 10 million in 2015 and a Series C of 13 million in This year it received an EFSI-backed EIB financing of 15 million and opened in Germany the largest ultracapacitor factory in Europe. This plant will create 50 new jobs by 2019.

20 SMEI attracting business into the EU Dune Medical Devices, Israel: Smart biopsy tool for real-time characterisation of cancerous cell in breast biopsy The company was hesitating whether to exploit the European or the US market, and was trying to acquire financial support on both sides. The SME instrument grant of 3 million led them to prioritise the European market over the US market. The company raised since a Series B of 12 M in 2017

21 SMEI supporting disruptive innovation Disrupt 100 Ultrahaptics, United Kingdom named one of the most disruptive tech companies Ultrahaptics received a Phase 2 grant of 1.5 million in It is the first and only company in the world to create a novel haptic feedback system that allows users to feel sensations in their bare hands while interacting in mid-air with a touchless sensing system. The company announced in May 2017 that it had secured 17.9 million in a Series B round

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