SME Instrument: H2020 Jury Experience Sharing - Dilek DAYINLARLI, ScaleX Ventures - Ufuk 2020
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Dilek DAYINLARLI, ScaleX Ventures
SME Instrument: H2020 Jury Experience Sharing
1
2
SME Instrument Phase-2
The evaluation process
§ 1000+ companies submitted a proposal each term
§ Performed by four expert-evaluators per proposal
§ Results used exclusively for ranking and selection of
companies to interview
§ 100+ companies invited to the interview week
§ Evaluation based on the information provided in the interview
Here § Score from the remote evaluation not considered in the
judgment
§ Selected companies invited for Grant Agreement preparation
3
Interviews
Our contribution to identify promising companies
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Interviews
How are the interviews organized?
5MARKET OPPORTUNITY
We operate in a region that is home to some of the best
technological talent
Highly-ranked tech talent: 8 out of 30 top quality Tukey is the fastest-growing country for developers
developers are from the region in Europe
16.5
15.1
YoY Growth (%)
10.6 10.6
9.9
7.4
5.6 5.2
Median
2.1 2.1
Source: Atomico State of European Tech 2018
Source:
6MARKET OPPORTUNITY
Which costs a fraction compared to western Europe and United
States
Median Annual Salary in Information Technologies ($’000)
United States 115.0
• The average salary of software engineer is 4x
higher in San Francisco than in Central
Australia/NZ 90.0 Europe; this gap is further widening
• Local region allows startups to attract high
4x quality technological talent at a low cost
Western Europe 60.0
• The increasing cost gap can provide a long
term competitive advantage
Canada 60.0
Turkey &
28.0
Eastern Europe
1 According to the Bureau of Labor Statistics, the average salary in SF has grown by 87% between 2000 and 2017 – from $76k to $143k.
2 Average for Turkey, Czech Republic, Poland, Romania and Slovakia. Sources: Glassdoor, PayScale.
7MARKET OPPORTUNITY
Leading also to significantly lower early stage valuations
Median Pre-money Seed Valuation ($million)
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6
• The median pre-money valuation for
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seed deals in Turkey and Eastern
4
Europe is on average 66% lower when
compared to the U.S.
3
• Turkey provides a great opportunity to
2
invest into future winners at lower
valuations
1
0
2012 2013 2014 2015 2016 2017
United States Turkey & CEE
Source: PitchBook and ScaleX Analysis
8MARKET
Leading while producing an increasing number of exits with a
global presence. Three out of the top 10 M&A exits in Europe came
from Turkey in 2018 Company Country EV($M)
Zoopla United Kingdom 2,904
iZettle Sweden 2,200
Mendix Netherlands 730
Trendyol Turkey 728
CCP Games Iceland 425
Shazam United Kingdom 400
New Voice Media United Kingdom 350
Relayr Germany 300
Opsgenie Turkey 250
Gram Games Turkey 230
Source: Atomico State of European Tech 2018, Crunchbase, Company Websites, Webrazzi, Scalex Analysis
9MARKET OPPORTUNITY
With low competition, high capital efficiency, lower valuations and
proven success stories the region represent an opportunity for
venture investment
VC Investment per Higher Capital Lower Valuations # of M&A Exits in
Capita Efficiency Europe’s Top 10
$6.2M
3,71x
4
$250
3.02x
3
2.02x
$2.3M $2.4M
1
$30
$1.4
Source: 2018 Pitchbook – NVCA Venture Monitor , IVC Exit Report 2017, Dealroom EU VentureCapital 2017, Startups.watch
10Thank You.
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