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Posts Tagged ‘VivaTech’

Abstract

At VivaTech 2021, French President Emmanuel Macron joined a panel of European scale-up CEOs to discuss the future of Europe’s tech ecosystem. In a 66-minute conversation, Macron emphasized the need for a robust financial ecosystem, streamlined regulations, and a unified European market to support scale-ups. The panel, featuring leaders from Believe, Aledia, Neuroelectrics, and Klarna, highlighted Europe’s potential to lead in innovation through ethical, sustainable, and citizen-centric approaches. This article explores Macron’s vision for fostering European champions, addressing challenges in funding, regulation, and talent, and positioning Europe as a global tech leader.

Introduction

In June 2021, VivaTech, Europe’s premier startup and tech event, hosted a landmark panel featuring French President Emmanuel Macron alongside CEOs of leading European scale-ups. Moderated by Nicolas Barré of Les Échos, the discussion showcased Europe’s burgeoning tech landscape through the lens of companies like Believe (digital music distribution), Aledia (LED displays), Neuroelectrics (neuroscience), and Klarna (fintech). Macron articulated a bold vision for transforming Europe into a hub for innovation by strengthening its financial ecosystem, reducing regulatory barriers, and embracing a distinctly European approach that blends science, ethics, and ambition. This article delves into the key themes of the panel, weaving a narrative around Macron’s call for speed, scale, and sovereignty in European tech.

Building a Thriving Tech Ecosystem

Believe: Scaling Digital Music

Denis Ladegaillerie, CEO of Believe, opened the panel by sharing his company’s journey from a three-person startup in his living room to a global leader supporting 850,000 artists across 50 countries. Believe, which recently went public via an IPO, aims to dominate digital music distribution by offering artists transparency, better economics, and digital-first expertise. Ladegaillerie credited France’s Next 40 and French Tech initiatives for creating a supportive environment for its Paris-based IPO, noting Europe’s rising prominence as the second-largest music market by 2028. He urged Macron to foster more IPOs by attracting talent, educating investors, and building a pipeline of listed companies to create a virtuous cycle.

Macron responded by emphasizing the need for a robust financial ecosystem to provide liquidity for investors through mergers and acquisitions (M&As) and IPOs. He highlighted France’s Tibi Initiative, which redirected 6 billion euros of institutional savings to tech investments, unlocking 20 billion euros for the sector. Macron proposed scaling this model to the European level, encouraging banks and insurers to invest more in tech equity and fostering cooperation with large corporations for M&A exits. He stressed that successful IPOs like Believe’s enhance Europe’s credibility, attracting analysts and investors to fuel further growth.

Aledia: Industrializing Deep Tech

Giorgio Anania, CEO of Aledia, brought a deep-tech perspective, focusing on energy-efficient LED displays poised to revolutionize augmented reality (AR) within five years. With experience across startups in the U.S., U.K., Germany, and France, Anania praised France’s supportive environment, particularly BPI France’s assistance in choosing France over Singapore for Aledia’s manufacturing plant. However, he highlighted Europe’s lag in capital access compared to the U.S. and China, where “infinite money” fuels rapid scaling. Anania posed three questions to Macron: how to match U.S./China capital access, accelerate European reforms within three years, and simplify regulations for small companies transitioning to industrial scale.

Macron agreed that “speediness and scale” are critical, advocating for a European strategy to attract U.S. and Chinese investors by positioning Europe as business-friendly and innovative. He proposed rethinking procurement to favor startups over “usual suspects” in deep-tech sectors like energy, mobility, and defense, citing SpaceX’s disruption of aerospace as a model. Macron emphasized that deep tech is a matter of European sovereignty, warning that missing the current innovation wave could leave Europe dependent on U.S. or Chinese technologies. To support industrialization, he committed to streamlining regulations to ease the growth of small companies like Aledia.

The European Way: Science, Ethics, and Impact

Neuroelectrics: Innovating in Healthcare

Ana Maiques, CEO of Neuroelectrics, shared her Barcelona-based company’s mission to modulate brain activity for conditions like epilepsy and depression. Demonstrating a cap that monitors and stimulates brain signals in real time, Maiques highlighted Neuroelectrics’ FDA breakthrough designation for reducing seizures in children non-invasively. She emphasized Europe’s potential to address healthcare challenges—mental health, aging, and neurodegeneration—through responsible innovation. Having scaled her company to Boston, Maiques asked Macron how the “European way” could attract the next generation and how the pandemic reshaped his healthcare vision.

Macron described the European way as a unique blend of science, ethics, and economic ambition, resilient to globalization due to its ability to navigate complexity. Unlike the U.S., which prioritizes market efficiency, or China, Europe embeds democratic values and ethical considerations in innovation. He argued that sustainable business requires regulation to protect human rights and prevent unchecked data exploitation, citing the risks of private platforms controlling brain data or insurers using it to discriminate. Macron positioned Europe’s General Data Protection Regulation (GDPR), Digital Markets Act (DMA), and Digital Services Act (DSA) as frameworks for ethical innovation, ensuring transparency and citizen trust.

On healthcare, Macron identified education and healthcare as key investment pillars, advocating for personalization and prevention through AI and deep tech. He highlighted France’s centralized healthcare data as a competitive advantage, enabling secure, innovative solutions if access is managed transparently. Post-pandemic, Macron saw innovation as critical to shifting healthcare from hospital-centric models to citizen-focused systems, reducing costs and preventing chronic diseases through personalized approaches.

Disrupting with Purpose

Klarna: Fintech and Open Banking

Sebastian Siemiatkowski, CEO of Klarna, represented Sweden’s vibrant tech scene, with Klarna’s 90 million users and $45 billion valuation disrupting retail banking. He praised Macron’s business-friendly leadership but criticized Brussels’ slow and ineffective regulations, particularly on open banking and GDPR. Siemiatkowski argued that GDPR’s cookie consent overload (142 lifetimes daily) fails to enhance privacy, while open banking regulations fall short of enabling data mobility to drive competition. He urged Macron to push for consumer-centric regulations that foster innovation and position Europe as a global leader.

Macron defended GDPR as a necessary foundation, ensuring legal accountability and consumer awareness, but acknowledged that regulations blocking innovation are counterproductive. He candidly admitted governments’ reluctance to fully embrace disruptive models like Klarna’s, which can eliminate retail banking jobs. Macron clarified his dual role: supporting innovation that adds new services without destroying jobs, while balancing economic and social priorities. He cited Singapore’s open banking success as a model, suggesting that forward-leaning regulation could attract investment and create jobs, but emphasized the need for European players to lead disruption to maintain sovereignty.

A Call for Speed and Sovereignty

Macron concluded by reiterating the urgency of building a single European market, lifting sectoral barriers, and replicating France’s Next 40 and FT 120 initiatives at the European level. He committed to prioritizing these goals during France’s EU presidency in early 2022, aiming for concrete results. Macron underscored the political dimension of innovation, framing it as a matter of sovereignty to ensure Europe develops its own champions and technologies. By fostering trust through regulation, attracting global capital, and empowering startups, Europe can seize the current wave of innovation to shape a sustainable, ethical future.

Conclusion

The VivaTech 2021 panel with Emmanuel Macron and European scale-up leaders was a powerful testament to Europe’s potential as a global tech hub. From Believe’s digital music revolution to Aledia’s deep-tech displays, Neuroelectrics’ brain health innovations, and Klarna’s fintech disruption, the panel showcased diverse visions united by a commitment to impact. Macron’s vision—rooted in speed, scale, and the European way—offers a roadmap for building a resilient ecosystem. By strengthening financial markets, streamlining regulations, and championing ethical innovation, Europe can lead the next decade’s technological wave, ensuring sovereignty and prosperity for its citizens.

 

Abstract

At VivaTech 2021, a 29-minute panel titled “Tech to Rethink Our Workplace” explored how technology is reshaping work post-pandemic. Featuring Victor Carreau, CEO of Comet Meetings, Marie Barbesol, co-founder and Chief Evangelist of Klaxoon, and David Gurle, founder of Symphony, the session addressed the shift to hybrid work, employee empowerment, and cultural transformation. Carreau emphasized redefining offices as collaboration hubs, Barbesol showcased tools for remote teamwork, and Gurle highlighted secure communication in regulated industries. This article synthesizes their insights, examining how technology, trust-based management, and flexible work models are crafting a new workplace paradigm.

Introduction

The COVID-19 pandemic accelerated a workplace revolution, forcing organizations to embrace remote and hybrid models. At VivaTech 2021, Europe’s leading tech event, the panel “Tech to Rethink Our Workplace” convened innovators leveraging technology to navigate this shift. Victor Carreau of Comet Meetings reimagined physical workspaces, Marie Barbesol of Klaxoon introduced collaborative tools for remote teams, and David Gurle of Symphony addressed secure communication for financial institutions. Their 29-minute discussion highlighted the pandemic’s lasting impact: a move toward flexible, trust-based, and technology-driven work environments. This article explores their solutions, the cultural shifts they enable, and the future of work.

The Pandemic’s Workplace Impact

A Paradigm Shift

The pandemic disrupted traditional work, with millions transitioning to remote setups overnight. By March 2020, companies faced technical failures—clogged VPNs, downed servers—exposing the fragility of pre-COVID systems. The crisis, as Gurle noted, was a “booster,” accelerating digital transformation and proving employees could work effectively from anywhere. This shift empowered individuals to demand flexibility, challenging rigid office-centric models.

Lasting Trends

Panelists identified enduring trends: hybrid work combining remote and in-person collaboration, increased environmental awareness through reduced commuting, and asynchronous work allowing personalized schedules. These changes, catalyzed by necessity, opened opportunities for better work-life balance, global talent access, and reduced carbon footprints, aligning with broader societal goals.

Klaxoon: Empowering Remote Collaboration

Technology Overview

Marie Barbesol, co-founder of Klaxoon, shared how their suite of collaborative tools, launched in 2015, addresses inefficient meetings. Klaxoon’s apps enable seamless teamwork, from workshops to project management, ensuring inclusivity and decision-making. Pre-COVID, Barbesol observed that 50% of meeting attendees hesitated to share ideas, and only one in four meetings ended with decisions. Klaxoon’s platform counters this with structured, engaging formats. During the pandemic, Klaxoon offered free access, onboarding ten times more users, and launched a virtual whiteboard in September 2020, integrating templates and video for remote collaboration.

Impact and Evolution

Klaxoon’s growth—from a 4-square-meter booth at VivaTech 2016 to a major stage in 2021—reflects its relevance. The pandemic revealed flaws in traditional work methods, prompting Klaxoon to adapt. Managers sought ways to coordinate without endless video calls, while teams needed visual tools to stay aligned. Barbesol highlighted three lessons: remote work requires new methods, asynchronous collaboration boosts efficiency, and reduced travel fosters environmental responsibility. Klaxoon’s tools enable global talent integration and creative, reactive teams, redefining teamwork.

Cultural Implications

Barbesol emphasized maintaining strong company culture through regular synchronization (daily or weekly rituals), cross-team collaboration to avoid silos, and feedback as “the breakfast of champions.” These practices ensure alignment and inclusivity, critical in hybrid settings where remote workers risk disconnection.

Comet Meetings: Redefining the Office

Technology and Philosophy

Victor Carreau, CEO of Comet Meetings, argued that the traditional office is “dead,” but workspaces remain vital for collaboration and socialization. He broke work into three components: production (individual tasks, best done remotely), collaboration (team efforts, often requiring physical presence for complex tasks), and socialization (building bonds that enhance loyalty). Comet Meetings offers modern venues in Paris, Brussels, and Madrid, designed for productivity and creativity, and “Hospitality by Comet,” which transforms corporate offices into collaboration hubs with tailored services.

Impact and Vision

Carreau’s vision positions “meetings as the new office.” Post-COVID, offices must prioritize high-quality engagement over daily attendance. Comet’s venues provide cost-effective, inspiring spaces for one-day meetings, while Hospitality by Comet helps landlords and companies rethink real estate. The pandemic validated remote production, reducing office space needs—Gurle noted Symphony cut its New York office capacity by 50%—but Carreau stressed that physical spaces remain essential for meaningful interactions, provided they are exceptional.

Cultural Shift

Carreau advocated for trust-based management, moving away from command-and-control models. He warned that companies reverting to pre-COVID norms risk losing talent, as employees now prioritize flexibility. Comet fosters culture by increasing virtual touchpoints during full-remote periods and ensuring “amazing” in-person meetings, aligning teams around shared values despite physical distance.

Symphony: Secure Collaboration in Regulated Markets

Technology Overview

David Gurle, founder of Symphony, detailed their role as a digital transformation partner for financial institutions, where strict regulations govern communication. Symphony’s cloud-based platform ensures secure, recorded interactions, critical when non-compliance risks billions in fines. During the March 2020 lockdown, Symphony supported clients like JPMorgan, enabling 250,000 employees to go remote overnight when competitors’ tools failed. The platform’s scalability and compliance features ensured business continuity.

Impact and Adaptation

The crisis transformed financial services, with Gurle noting a cultural shift toward individual choice. Employees, having proven remote efficacy, resisted imposed office returns. Symphony’s reduced office footprint—averaging two employees weekly in New York—reflects this trend. Gurle sees the crisis as an opportunity, fostering a culture of empowerment and flexibility that boosts productivity and loyalty.

Future Innovations

Gurle, with 25 years in collaboration tech, predicted immersive technologies—augmented and virtual reality, spatial audio—as the next frontier. These will recreate in-person experiences remotely, enhancing engagement. Symphony’s regulatory expertise positions it to lead in secure, innovative communication, aligning with the market’s demand for advanced hybrid solutions.

Cultural Transformation

Trust and Empowerment

All panelists emphasized trust-based management. Gurle highlighted “management by objective,” where empowered employees take ownership, increasing motivation and productivity. Carreau warned that without this shift, companies risk talent attrition, as candidates now demand work-life balance. Barbesol’s feedback-centric approach ensures individuals feel valued, fostering loyalty in hybrid settings.

Maintaining Connection

Carreau stressed shared values and frequent touchpoints—virtual or physical—to sustain culture. Barbesol advocated cross-team synchronization to prevent silos, using Klaxoon’s visual tools to connect on-site and remote workers. Gurle noted that reduced commuting frees time for family and asynchronous work, enhancing quality of life and environmental responsibility.

The “COVID Company”

Gurle introduced the “COVID company” concept: fully remote organizations with periodic, high-quality in-person engagements. This model, echoed by Carreau’s “meetings as the new office,” prioritizes flexibility and meaningful connections, potentially redefining corporate structures. Barbesol’s decade of remote work validates its feasibility, offering a blueprint for others.

Challenges and Opportunities

Management Resistance

Carreau identified outdated management as the “elephant in the room.” Command-and-control styles hinder hybrid adoption, risking talent loss. Companies must embrace trust and flexibility to remain competitive, a challenge requiring cultural and structural change.

Technology Integration

Barbesol and Gurle emphasized leveraging existing screens for visual collaboration, transforming workplaces into “visual offices.” Future innovations, like holography, require investment but promise immersive experiences. Symphony’s cloud-based approach and Klaxoon’s rapid product launches demonstrate technology’s role in overcoming remote work barriers.

Talent and Productivity

The shift empowers employees, with candidates demanding balanced lifestyles, as Gurle noted. This drives productivity and loyalty but challenges companies to adapt. Comet’s focus on exceptional meeting experiences and Klaxoon’s inclusive tools ensure engagement, critical for retaining talent in a competitive market.

Future of Work

Non-Linear Workweeks

Carreau predicted a “non-linear week,” where employees choose when to collaborate in-person, work remotely, or travel, prioritizing mindfulness. This flexibility reduces commuting and environmental impact, aligning with Barbesol’s observations on sustainable work practices.

Immersive Collaboration

Gurle’s vision of augmented and virtual reality will bridge physical and remote divides, creating immersive collaborative spaces. Klaxoon’s visual whiteboard and Symphony’s secure platform lay the groundwork, with innovation poised to enhance hybrid experiences.

Trust-Based Cultures

All panelists foresaw trust as the cornerstone of future workplaces. Barbesol’s feedback-driven approach, Carreau’s value-centric meetings, and Gurle’s empowerment model will define cultures that prioritize individual agency, fostering resilience and innovation.

Conclusion

The VivaTech 2021 panel “Tech to Rethink Our Workplace” illuminated a transformative moment for work. Klaxoon’s collaborative tools, Comet Meetings’ reimagined offices, and Symphony’s secure platforms address the hybrid era’s demands, empowering employees and fostering trust. The pandemic proved flexibility’s viability, but management must evolve to sustain it. As technology advances—toward immersive, inclusive solutions—the workplace will become more human-centric, balancing productivity with well-being. VivaTech’s platform amplified this call to action: embrace trust, leverage technology, and build workplaces that inspire.

 

A 22-minute fireside chat at VivaTech 2019, moderated by Harry Stebbings, Founder of Stride VC and The Twenty Minute VC, featured Pär-Jörgen Pärson, General Partner at Northzone, available on YouTube. Connected via LinkedIn and LinkedIn, Harry and Pär-Jörgen discussed VC decision-making. This 1000–1200-word post, for VCs, startup founders, and tech enthusiasts, explores lessons from market cycles and Spotify’s success.

Navigating Market Cycles

Pär-Jörgen, having weathered the 2001–2003 dot-com crash (95% value loss) and 2008–2009 cleantech wipeout, emphasized resilience. These cycles taught him to prioritize sustainable growth over hype-driven valuations. Europe’s VC ecosystem, now complete with angel-to-growth financing, avoids early exits (e.g., $60 million sales once deemed successes). In 2018, six of eight global IPOs were European, reflecting a maturing market. Pär-Jörgen advises founders to choose investors wisely, ensuring alignment for tough times, as market booms tempt over-valuation risks.

Aligning Interests in VC

Pricing, Pär-Jörgen argued, hinges on aligned interests, often undermined by high valuations with anti-dilution clauses. These misalignments strain founder-VC partnerships during downturns. He recommends founders stress-test investor alignment pre-investment, prioritizing resilience over maximizing valuation. Northzone avoids consensus-driven decisions, relying on individual conviction to back founders like Spotify’s Daniel Ek. This approach, coupled with transparent, meritocratic fund structures, has driven Northzone’s success, including three multi-billion-dollar exits, despite long-term performance uncertainty in VC.

Lessons from Spotify’s Growth

Pär-Jörgen’s early bet on Spotify, led by Daniel Ek, hinged on Daniel’s vision and ability to oscillate between granular details (e.g., instant playback UX) and strategic abstraction. Initially reluctant to lead, Daniel’s paranoia and customer focus—balancing creators, consumers, and labels—built a two-sided marketplace over a decade. Spotify’s near-death moments, resolved in hours, underscore the value of experienced VCs who remain calm. Pär-Jörgen’s latest unannounced investment in group travel reflects his knack for spotting young, serial founders with high-growth potential.

A 25-minute panel at VivaTech 2019, moderated by Emmanuelle Duten of Les Echos/Capital Finance, featured Philippe Botteri, Partner at Accel, Virginie Morgon, CEO of Eurazeo, and David Thevenon, Partner at SoftBank Investment Advisers, available on YouTube. Connected via LinkedIn, LinkedIn, and LinkedIn, they discussed Europe’s unicorn boom. This 1000–1200-word post, for investors, entrepreneurs, and policymakers, explores the drivers of unicorn growth.

Europe’s Unicorn Momentum

Philippe highlighted Europe’s unicorn surge, with 17–18 created in 2018, fueled by $23 billion in investments. Accel’s $575 million fund targets 22 European cities, a shift from London-Tel Aviv dominance 15 years ago. Virginie noted that two-thirds of 2018’s new unicorns were European, driven by ambitious founders and growing growth capital. David emphasized Europe’s robust ecosystem, with SoftBank’s investments in Germany and beyond, signaling that the region now rivals global hubs, supported by professional early-stage and growth investors.

Characteristics of Unicorn Founders

Virginie stressed that unicorn founders, like Farfetch’s José Neves, exhibit exceptional execution and ambition, mastering complex platforms (e.g., logistics, delivery). Philippe cited Doctolib’s Stan, whose passion for transforming European healthcare inspired Accel’s Series A investment, now a unicorn. David pointed to OYO’s Ritesh Agarwal, scaling from 13 to 200,000 hotel rooms since 2015, driven by urgency and global vision. These founders combine strategic thinking, platform-building (e.g., Grab’s shift to financial services), and relentless focus, distinguishing them in competitive markets.

Supporting Unicorn Growth

Beyond capital, VCs provide operational support. Philippe’s Accel leverages its global network (Silicon Valley, London, India) to help software startups relocate to the U.S., hiring top sales talent. Virginie’s Eurazeo offers strategic guidance, from commercial partnerships to U.S. expansion, as seen with ContentSquare. David’s SoftBank provides long-term capital (12-year funds) and market access (China, Latin America), fostering peace of mind for innovation. This hands-on partnership—$100 million on average to reach unicorn status—ensures rapid scaling, even if profitability lags behind growth.

Philippe Botteri and Bernard Liautaud, moderated by Emmanuelle Duten, Editor-in-Chief at Les Echos/Capital Finance, explored how venture capitalists foster European unicorns at VivaTech 2018. Recorded in Paris and available on YouTube, this panel from Accel and Balderton Capital discusses creating ecosystems for startups to thrive. This post, with three subsections, delves into their strategies. Connect with Philippe on LinkedIn and Bernard on LinkedIn. Visit VivaTech.

Building a Robust Ecosystem

Philippe highlights Europe’s progress in producing high-value exits, citing Spotify’s $30 billion exit in 2018, surpassing U.S. (Dropbox, $12 billion) and Asian (Flipkart, $20 billion) counterparts. This shift reflects a maturing ecosystem, with Europe’s 25 unicorns trailing the U.S.’s 110 and China’s 60. Bernard emphasizes the ecosystem’s growth since 2006, driven by experienced entrepreneurs, global VCs, and ambitious talent. Top French universities now see 20-30% of graduates joining startups, not banks, signaling a cultural shift toward innovation.

The availability of capital, especially at early stages, supports this growth. Bernard notes that European funds have tripled in size, fostering competition and higher valuations. However, late-stage funding lags, with European champions raising $1.5 billion on average compared to $7.5 billion for U.S. firms. Philippe sees this as a maturity gap, not a failure, with Europe catching up rapidly through global ambitions and talent influx.

Prioritizing Sustainable Growth

Bernard argues that unicorn status, often driven by a single investor’s enthusiasm, is a misleading metric. He advocates focusing on revenue and long-term impact, aiming to build companies with $1-10 billion in revenue over 10-15 years. A billion-dollar valuation doesn’t guarantee sustainability; some firms reach $1 billion with just $50 million in revenue, only to be acquired. Spotify, generating over $1 billion quarterly, exemplifies the ideal: a scalable, high-revenue business.

Philippe counters that valuations reflect potential, not current worth. A $1 billion price tag signals a VC’s belief in a $5-10 billion future outcome, balanced against the risk of failure. Rapid technology adoption drives larger outcomes, justifying higher valuations. Both agree that sustainable growth requires aligning capital, talent, and ambition to create enduring European giants, not fleeting unicorns.

Navigating Capital and Exits

The influx of late-stage capital, like SoftBank’s $100 billion Vision Fund, creates winner-takes-all dynamics in certain sectors. Bernard notes this gives funded companies an edge but doesn’t suit all industries, where multiple players can coexist. Philippe emphasizes liquidity for employees and founders, critical for retaining talent. Late-stage rounds and secondary sales provide this, delaying IPOs but ensuring stakeholders benefit.

Emmanuelle raises audience concerns about overvaluation and bubbles. Both panelists dismiss bubble fears, describing the market as vibrant, not overheated. Philippe notes that competition on hot deals may inflate valuations, but real metrics—consumer and B2B growth—underpin most successes. Bernard predicts cyclical downturns but sees no systemic risk, with Europe’s ecosystem poised to produce innovative, global leaders.

Links

• YouTube
• Accel
• Balderton Capital
• LinkedIn – Philippe Botteri
• LinkedIn – Bernard Liautaud
• VivaTech

Hashtags: #VivaTech #PhilippeBotteri #BernardLiautaud #Accel #BaldertonCapital #Unicorns #VentureCapital #Spotify #EuropeanStartups

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