Europe’s largest startup association selected nine companies from the Tampere region for its list of top performers – Expert: “It reflects the high regard for Finnish expertise”

Nine Finnish companies operating in the Tampere region were selected by a major French network of startups and investors. A Business Tampere expert believes that the Pirkanmaa region offers excellent conditions for breaking into international markets.

The France Digitale association, which works with startups and investors, has selected nine companies operating in the Tampere region for its list. More specifically, this is part of the French association’s scaleup mapping, which it conducted for the second time.

The LETS 2024 mapping was carried out by France Digitale in collaboration with 32 other French and European startup organizations, with partners from around 20 countries in total. LETS stands for Leading European Tech Scaleups.

The number of selected companies grew from last year’s 135 to 251 in 2024, according to the association's press release. The selection criteria consist of five stages. To qualify for the list, a company must be innovative and growing, and it must have been founded in the 21st century. The company must operate in Europe, with at least half of its workforce located within Europe. Additionally, the company’s revenue must exceed 10 million euros, with at least one million generated outside its home market.

The Finnish companies that made the French list are: Accountor HR Solutions, Framery, Grundium, HappyorNot, Merus Power, Optofidelity, Tamturbo, Treon, and Wirepas.

The group of nine will be presented this week at the FDDAY business event in Paris. The Tampere region, with its SMEs, will also be present, as Margarita Khratanovich, Director of Startup Services from the Platform 6 startup accelerator on Åkerlundinkatu, takes the main stage. Startup Tampere is an official partner of the event.

Founded in 2012, France Digitale is, according to the press release, Europe’s largest startup association, bringing together 2,000 startups and investors. The association’s goal is to help build the future success stories of Europe’s tech companies.

The LETS initiative is a refreshing and novel approach.

Pleased expert

Tero Kyckling, Senior Business Advisor for International Affairs and the Startup Ecosystem at Business Tampere, is pleased with the attention that companies from the Tampere region are receiving.

– This is great news. It shows that Finnish expertise is highly valued. We have a lot of talent here that attracts interest from abroad, Kyckling says.

Kyckling sees this as an important message: companies can rise and succeed from Tampere. The Pirkanmaa region can stand confidently alongside international metropolises.

– It’s definitely possible to internationalize from here. We have excellent facilities, skilled professionals, and education. Tampere is a good small place to be, Kyckling explains.

According to Kyckling, the selected companies are familiar to Business Tampere. Scaleup companies are defined as rapidly growing and internationalizing businesses.

Kyckling notes that the focus of the LETS list is specifically on European companies and those operating here. According to France Digitale’s press release, they aim to address two key issues: First, why is it easier to export to North America than within Europe? Second, what is the right way for scaleups to exit? An exit refers to a situation where the founders, investors, or other shareholders sell their stake in the company, thereby realizing its value.

Kyckling adds that, in his view, the association also aims to simplify operations for startups and SMEs within the EU, helping them better access public procurement opportunities. Additionally, there’s the goal of preventing companies from fleeing to list on stock exchanges in the U.S. or other non-EU countries.

Awakening in Europe

Kyckling observes that Europe has become more aware in the 2020s due to issues such as climate change, the war in Ukraine, and the rise of China, and we are falling behind in technology development compared to North America and Asia.

– In Europe, we face a situation where we should be able to attract others, but if we cannot even keep European companies here, problems will start to arise. For example, while regulation is increasing in the EU, it is being reduced in the USA, Kyckling outlines.

Kyckling notes that LETS is working to ensure that funding can be found within Europe.

He explains that the drive towards North America is also due to larger and better-functioning capital markets compared to Europe. Kyckling says LETS aims to make it easier and more accessible to find funding within Europe.

– The LETS initiative is a refreshing and novel approach also because it focuses more on a company’s impact on the environment and community rather than just market value, Kyckling says.

The France Digitale LETS 2024 press release available here.