Success Stories and Lessons

Case Study 1: B2B SaaS Journey

TechCo funding progression: - Year 0: €50K friends & family + €30K Bourse - Year 1: €800K seed (Kima + angels) - Year 2: €3M Series A (Alven + Bpifrance) - Year 4: €15M Series B (Accel + existing) - Year 6: €50M Series C (Insight + growth fund)

Key Success Factors: - Strong technical team - Clear metrics focus - International ambition from day 1 - Leveraged public support throughout

Case Study 2: Deep Tech Hardware

InnovateCo funding mix: - Year 0: €100K i-Lab prize - Year 1: €500K ADEME grant + €300K angels - Year 2: €2M seed (Elaia + hardware specialist) - Year 3: €1M Horizon Europe grant - Year 4: €10M Series A (industrial strategic + VCs)

Lessons Learned: - Grants crucial for hardware development - Strategic investors add huge value - European programs worth the effort - Patient capital needed