As European startups come up against challenge after challenge, Scaleway has launched a new programme, The Next 100 Startups Shaping Europe’s Future. The aim is to empower startups to find long-term, resilient success – and applications are now open!
Running a startup is hard work. There’s a reason the startup hustle culture is so renowned, and there’s a reason that only 1 out of every 10 startups makes it. Europe’s startup ecosystem has been in a golden era over the past couple of years, despite dealing with a global pandemic and rollercoaster political changes. However, there’s no doubt that 2022 has been a bag full of surprises. With war on European soil, energy crises, supply chain problems, the rising cost of living and so on (let’s not carry on…), European startups are certainly up against obstacles at the moment and the stats show it.
According to Crunchbase, investment in European startups actually dropped by 43% in Q3 2022 compared to Q3 in 2021. Across Europe, inflation is rising, which is giving startups additional costs and additional barriers to overcome when making critical sales and acquiring new customers.
That’s why Scaleway wants to support Europe’s promising cloud-based startups with its latest programme – The Next 100 Startups Shaping Europe’s Future.
Benefits of the multi cloud
For modern startups coming up against surmounting challenges, leveraging the cloud can be pivotal in making a difference. It can help give them the freedom to grow responsibly and autonomously, optimizing long-term viability – but this will only happen by choosing the right cloud provider and right cloud product.
It’s reported that AWS, GCP and Azure account for 72% of the cloud market and yet, 65% of Frenchs startups feel too dependent on GAFAM, for example. Something clearly isn’t right.
Startups often accept 6-figure cloud credits from these incumbent players and, resultingly, take on products they don’t need. They then get locked in with these providers and their feed and are stuck with costly, inflexible cloud solutions. We took a look at this problem recently.
Scaleway can help
Scaleway’s multi cloud is a more flexible solution for startups – giving them the agility and dynamism they crave, as well as the ability to better overcome the crises of 2022. Now, to further enhance its support to Europe’s startups, the firm is launching The Next 100 Startups Shaping Europe’s Future programme.
The initiative aims to give support to those 100 startups that are set to be Europe’s next unicorns.
Startups selected as one of the Next 100 Startups will receive partial coverage of their cloud infrastructure costs over a period of 24 months, helping them reduce their burn rate and optimize the chance of autonomous success.
The benefits will be applicable to the entire range of Scaleway’s easy-to-use public cloud services, which includes Bare Metal, Instances, virtual machines, storage, containers, and serverless.
Scaleway CEO Yann Lechelle commented: “As entrepreneurs, we are optimistic, we don’t see barriers. You use that mindset to bring you forwards. But there’s always a reality check at some point. And that’s cost. Cloud credits encourage people to build things like they don’t cost anything. You may have credits, but sooner or later you’ll have to pay the bills. That’s why we’ve created a new downwards discount rate, so you can phase out your spend over two years.”
For the first three months of the program, startups will receive 80% coverage of their Scaleway cloud infrastructure costs. Over the following year, the coverage will decline by 20% every three months. For their second year in the program, startups will receive 10% coverage of their costs. The financial support begins when startups receive their acceptance notification.
Practical Info
Who can apply?
Startups who:
- Have completed at least one round of fundraising (Series A and above)
- Are not currently Scaleway clients
- Have the majority of their clients in Europe
- Have created a solution that will shape the future of Europe
Application Process:
Applications are currently open on a rolling basis and will be answered within 7 business days of submission.
The application period will close Dec. 31, 2022.
via https://www.AiUpNow.com
October 31, 2022 at 10:02AM by contact@bcurdy.com (Patricia Allen), Khareem Sudlow
