Internet  et  innova+on  Capitalisme  en  muta+on  

 -­‐-­‐  

Olivier  Mathiot  Président  PriceMinister,  VicePrésident  France  Digitale,  …  

Social  and  economic  performance  of  French  digital  business  start-­‐ups  

Barometer    2013-­‐2014    June  2014  

1.  Methodology 2. Key Figures

2.1 Revenues 2.2 Fund-raising 2.3 Innovation support 2.4 People 2.5 Value-sharing

3. Conclusions 4. Contacts

 1.  Methodology  

   

•  Barometer  based  on  data  from  VC-­‐backed  digital  start-­‐ups  •  Survey  sent  by  venture  capitalists  to  their  par+cipa+ons  

•  EY  as  a  third-­‐party  analyzed  data  in  order  to  consolidate  and  guarantee  confiden+ality  of  it.  

►  116 start-ups

►  Average age: 5 years

►  4,8 M€ raised since their creation (median)

►  Key figures from financial data 2012 & 2013

1.  Methodology  

 2.  Key  figures  

   

2.1  Revenues  •  Total  revenues  (in  M€)  

1 598

2 279

0

500

1 000

1 500

2 000

2 500

2012 2013

2.1  Revenues  •  Interna+onal  revenues  

France Europe International

72% 61%

17% 21%

11% 18%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2012 2013

2.1  Revenues  •  Growth  of  interna+onal  revenues  (in  M€)  

France Europe International

1 153 1 398

272

482 173

399

0

500

1 000

1 500

2 000

2 500

2012 2013

2.4  People  •  People  

6 190 7 566

0

1 000

2 000

3 000

4 000

5 000

6 000

7 000

8 000

2012 2013

2.4  People  •  Type  of  work  contracts  (2013)   •  People  qualifica+on  (2013)  

91%

4% 1% 3%

Permanent contract ("CDI")

Temporary contract ("CDD" & "Interim")

Professional training contract

Internship

3%

26%

68%

3%

High-school diploma or less Bachelor Degree or less Master Degree PhD

2.4  People  –  Focus  on  growth  of  payroll  abroad*  

 

* Sample of 106 start-ups

26% 24%

50%

0%

10%

20%

30%

40%

50%

60%

France Europe International

2.5  Value  sharing  •  Percentage  of  share  capital  held  by  owners  and  employees  

46% 54%

2.5  Value  sharing  •  Percentage  of  share  capital  held  by  owners  and  employees  

52% 37% 41%

48% 63% 59%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0 to 5 M€ 5 to 50 M€ + 50 M€

% of share capital held by external shareholders (VC, Business angels…) % of share capital held by owners and employees

2.5  Value  sharing  •  Are  you  using  equity  instruments  to  mo+vate  your  team  ?  *  

* Analysis achieved on a sample of 99 start-ups

90%

10%

Yes No

2.5  Value  sharing  

* Analysis based on a sample of 105 start-ups in 2014

•  Types  of  Equity  instruments*  

60% 13%

27%

BSPCE Actions Gratuites Stock-options & BSA

2.5  Value  sharing  •  Percentage  of  employees  owning  equity  instruments*  

 Percentage  calculated  by  doing  the  ra+o  between  the  number  of  employees  owning  equity  instruments    and    the  total  number  of  employees.  First  chart  presents  data  globally  and  the  second  chart  is    presented  by  revenue  segment  

* Sample of 99 start-ups

28%

30%

27%

27%

28%

28%

29%

29%

30%

30%

31%

2012 2013

34% 24%

16%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0 to 5 M€ 5 to 50 M€ + 50 M€

2.5  Value  sharing  •  Did  you  distribute  dividends  since  the  crea+on  of  the  company?  

4%

96%

Yes No

2.5  Value  sharing  •  Average  age  of  staff   •  Ra+o  Management  /  Staff  wages  

42 32

0

5

10

15

20

25

30

35

40

45

Average age Management

Average age Employees

0,4 2,0

8,1

0,3 2,0

6,2

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

8,0

9,0

Minimum Average Maximum

2.5  Value  sharing  •  Are  you  both  founder  and  manager  of  the  company  ?  

11%

89%

No Yes

2.5  Value  sharing  •  Serial  entrepreneur  

   •  Gender  of  Chief  Execu+ve  Officer  

54% 46%

Non Oui

94%

6%

Men Women

 3.  Conclusions  

   

3.  Conclusions  

 ü  +43% of revenues vs 2012 ü  39% of revenues are generated abroad in 2013 ü  24% of respondents have a foreign VC that

already invested in the firm

ü  +22% of employees in 2 years ü  91% of permanent contracts ü  50% of people employed by companies

which revenues are from 5 to 50 M€ ü  68% of employees have a Master Degree

People

Innovation support Value sharing  ü  46% of the sample did not use « Young

Innovative Company » tax incentive. ü  Research Tax Credit remains the preferred

state incentive ü  Tax controls increased in 2013. Controls are

now more focused on the Research Tax Credit

ü  46% of share capital held by management and employees

ü  90% of start-ups use equity instruments ü  71% of start-ups have positiv « EBIT »

when reaching 50 M€ of revenues ü  96% never distributed dividendes

HyperGrowth & Born Global

 4.  Contacts  

   

MERCI        

Olivier  Mathiot