External newsletter April 2024 - N° 157

EDITO

It's springtime!

Dear Business Angels friends, dear readers,

After long months of regular rainfall, which eliminated any risk of drought and replenished the water tables, at least in the northern two-thirds of the country, spring is here again, with its fine days. Nature is awakening from its slumber and seems to be exploding in form and color. Project developers should also be aware that spring is here, as the number and diversity of projects submitted for consideration by BADGE investors is also exploding. As a generalist network, we examine a wide variety of projects, provided they demonstrate a certain level of innovation. This diversity offers our members a wide range of choices across all business sectors and technologies. Which begs the question: what should we invest in?

Some will be attracted by projects that promote the energy transition. Others will prefer a biotechnology offering a major innovation. Still others will see digital technology, now associated with artificial intelligence, as an undeniable driver of progress... Like nature, the range of choices is diverse, almost infinite.

So what options are available to the Business Angel investor?

A retrospective examination and analysis of our network's profitable exits reveals a number of lessons. 50% of successful exits were in the digital sector. Always associated with intellectual property, it was often more the patents than the start-up's use of them that interested their buyers. This criterion is included in our network's project evaluation grid. We include many projects proposing an innovative technological process or equipment. The France 2030 plan should help start-ups in this segment. Among the biotechs, only one has been acquired so far, in the field of nutritional supplements.
Does this mean we should be cautious with biotechs? Absolutely not, we have some excellent biotech companies in our portfolio, but investors in these technologies need to be patient, as development processes take longer than in the digital or industrial sectors. The country's leaders are aware of this, and launched the deeptech plan five years ago (see article below), which covers a wide range of fields beyond medical research. Starting this year, and for a period of five years, investors are encouraged to take risks and be patient, thanks to a 50% tax reduction on amounts invested, capped at 50,000 euros.

This hindsight provides a glimpse into the future, but let's not forget that historical performance is no guarantee of future results.

In the end, there's no magic formula for choosing an investment, just a few common-sense fundamentals: the soundness of the technology and its protection, the market's appetite for adopting it, and above all the entrepreneurial quality of the team behind the project.

Best regards,

Paul Leondaridis,

Chairman of Business Angels des Grandes Écoles.

The Deeptech plan celebrates its 5th anniversary,

back to the anniversary party

March 21, 2024

Launched by the French government in 2019 with an initial endowment of €3 billion, the Deeptech plan aims to elevate France to a leading position in disruptive innovation on a global scale. To celebrate 5 years of this plan, Bpifrance organized an anniversary evening on March 21, bringing together key players in the innovation ecosystem.

The event was attended by a host of public figures, including Sylvie Retailleau, Minister of Higher Education and Research, Nicolas Dufourq, CEO of Bpifrance, Marina Ferrari, Secretary of State for the Digital Sector, Bruno Bonnell, Secretary General for Investment France 2030, and Michel de Lempdès, President of France Deeptech.

Paul-François Fournier, Executive Director of Innovation at Bpifrance, took stock of the 5 years of the plan's implementation, highlighting several key points:

• A significant increase in the annual number of deeptech startups, from 168 in 2018 to 340 in 2023.

• The presence of 2,170 deeptech startups operating in France.

• The operation of 143 industrial sites by deeptech startups, 26 of which were created in 2023, reflecting an increase of 73% on the previous year. These sites are closely linked to local innovation themes.

• The creation of 29 University Innovation Poles (PUI) to help startups from the academic world to scale up.

• Fundraising by French deeptech startups has risen significantly, from €1.1 billion to €4.1 billion, four times more than five years ago. Bpifrance has made a major contribution to this growth, concentrating 75% of its investments in 2023 on deeptech.

The evening also provided an opportunity to spotlight Deeptech start-ups by sharing their entrepreneurial journeys and innovations. These included Moon Surgical, Ascendance Flight, Pasqal, Wandercraft, Kinetix, Isybot, Bleu Reflet, Ontbo, Orasis and Avatar Medical.

Dr. Zoï Kapoula, President of start-up Orasis, which promotes a system for diagnosing and treating neurovisual binocular motor disorders, demonstrated the effectiveness of the technology to Sylvie Retailleau, French Minister for Higher Education and Research. The start-up founded by the CNRS researcher aims to democratize a reference medical device for diagnosing and treating learning disorders, dysfunctions, vertigo, falls and other problems. A fine exhibition for this start-up which has been supported by BADGE for several years.

UPCOMING EVENTS

>>> PROJECT PRESENTATIONS

Monthly meetings with presentations of innovative fund-raising projects led by Philippe Pernot, Vice-Chairman in charge of project appraisal.

Members only.
Non-members, ask for your invitation.

PRACTICAL INFO

Business angel activity in 2023

As in previous years, France Angels presents its annual report on business angel activity. BAs played a crucial role in strengthening seed capital in 2023, with a total investment of 73.7 M€ (+10.6%), and the support of 441 start-ups (+11%). Refinancing saw a significant increase (195 deals versus 116 in 2022), totaling €21 million, almost twice as much as the previous year. The digital sector continues to lead the way (34%), followed by healthcare (25%) and consumer goods (9%). These investments highlight the major role played by business angels as the leading private player in seed financing, supporting the economy and employment in our current context.

News from our funded startups

Peptinov start-up receives funding

of the France 2030 investment plan

Start-up Peptinov has received 2.8 million euros in funding from Bpifrance as part of the iDemo call for projects (France 2030 investment plan) for its phase 2 clinical development in rare diseases. This Phase 2 trial will start at the end of 2024, and will aim to show a positive effect of Peptinov's anti-IL-6 immunotherapy on the relapse rate in patients in remission with rare inflammatory diseases (giant cell arteritis, Behçet's disease).

Mapping 2024 of French AI for Healthcare start-ups by Artefact: Imageens, Hillo and Diagnoly start-ups selected.

Since 2018, AI for Health has been facilitating the connection between startups and the wider healthcare ecosystem with the aim of promoting collaboration, innovation and impact in healthcare. The third edition of the "AI for Health Startups Mapping" offers an updated view of the sector, listing 191 key players across 10 categories, including medical imaging, monitoring & telehealth, patient journey, data foundation & governance, predictive health & early diagnosis, healthcare logistics, drug intelligence, research, robotics and cybersecurity. Start-ups Imageens, Hillo and Diagnoly are among this selection, a significant recognition of their contribution to the French healthcare ecosystem.

Our startups are recruiting

Great projects to invest in within our network

Omini offers a portable device for bedside blood testing. Its patented sensor-based technology enables near-patient testing and self-testing, while keeping providers informed at every stage of the process. Combining multi-sensor blood test strips, a portable connected reader and an application for transmitting clinical and biological data, this unique technology represents a giant step forward for precision medicine and a powerful catalyst in the transition to preventive care.

VitiVisio designs and develops innovative solutions for precision viticulture, combining sensors and AI to enable winegrowers to accelerate the transition to more efficient and environmentally-friendly viticulture. VitiVisio develops Decision Support Tools (DST) based on the analysis of data collected in the vineyard down to the very last foot, using cutting-edge optical sensors and a SaaS interface. In this way, the company meets the needs of winegrowers to optimize harvesting, improve productivity and reduce pesticide use. Today, VitiVisio places its technological expertise at the service of vineyards the world over to accelerate the ecological transition and combat the effects of climate change.

Rheonova markets viscosity measurement services and instruments. The company's flagship product, Rheomuco, is a medical diagnostic device used to quantify the viscosity of bronchial mucus for patients suffering from chronic muco-obstructive respiratory diseases: chronic bronchitis (COPD), severe asthma, cystic fibrosis, bronchiectasis.

OSCO re-enchants the world of non-alcoholic aperitifs with winegrowing know-how that breathes new life into winegrowing. OSCO creations have succeeded in sharing the full experience of an aperitif with a healthy composition: 0.0% alcohol, minimal sugar and, above all, completely natural! With growth of over 85% since the start of the year, prizes at the biggest international competitions, listings in France's finest establishments and numerous export opportunities, OSCO is doing well in this competitive market, thanks to its recipes developed with bartenders and its strong roots in the French terroir.

Wattpark is France's leading manufacturer of electric vehicle charging stations. Wattpark offers an entire ecosystem, with an application that lets you reserve a charging station at your destination in advance, or manage charging stations for a pool of company vehicles. Thanks to an agreement with Mutares, industrial production of the charging stations began in mid-November 2023 at the former Ford factory in Bordeaux.

Ezymob is a start-up that promotes the inclusion of all publics in complex environments (transport and public buildings) by developing innovative 100% digital software solutions. With a view to making society more inclusive and improving mobility for everyone, Ezymob's solution is aimed at all those who feel the need to be guided, with particular attention paid to disabled people (visually impaired, cognitively impaired, with motor disabilities) thanks to instructions and guidance adapted to them.

Hoverseen develops automatic drone systems for surveillance and inspection of industrial and/or sensitive sites. The drone-in-a-box moves without a remote pilot, following integrated flight plans, then lands alone in its base, where it recharges for the next mission. The technology involves robotizing commercially available drones, such as those made by Parrot of France. The system integrates as simply as an IP camera into a company's video surveillance system. The system interfaces as needed with specific AI solutions. The offer is available for both sale and rental.

We are a startup eyeGauge and we propose a digitalization solution for ship owners and ship operators that helps to save fuel, reduce emissions, prevent breakdowns in the middle of the ocean and maintenance costs. Unlike existing offers on the market, we have a cost efficient and non-invasive solution that can make any ship smart.

My Digital Buildings specializes in the digitization of buildings, and has positioned itself as the benchmark in the creation and operation of digital building doubles. The company supports its customers with a turnkey offer, from data collection in the field to the use of the Crystal platform, which standardizes and centralizes spatial data on buildings, while offering various modes of navigation, collaboration and interoperability with third-party software.

Would you like to find out more?

NETWORK AND PARTNERS

Digital InPulse 2024 program

Huawei has been organizing the Digital InPulse program every year since 2014. This program supports innovative French companies in their international development, offering them support towards the Asian tech ecosystem.

The program federates an ecosystem of national and local partners with the aim of opening up to as many entrepreneurs as possible. Huawei and its partners are convinced of the international development opportunities for innovative French companies. Every year, we mobilize a network of partners, incubators, gas pedals and entrepreneurs in Shenzhen and Hong Kong to support the Digital InPulse winners.

Digital InPulse has already supported more than 90 start-ups in fields of excellence such as the Internet of Things, Big Data, mobility and green tech.

>>> EDITORIAL COMMITTEE
Paul Leondaridis, President / Yannis Sahraoui, Managing Director
Dimitri Lionel A.Omgba, Communications Manager [Send your subject to the editor]

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