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(Un)Expected Trends Digging into Deeptech
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00:00Sous-titrage MFP.
00:59Sous-titrage MFP.
01:00So, thank you again for being with us.
01:02I'm sure I agree it feels great to reunite and reconnect with the VivaTech community here.
01:08And we have another exciting edition for you.
01:12This year again, we're bringing together entrepreneurs, startups, corporates, VCs, academics, and the media with one clear aim in mind.
01:20To ignite growth, business transformation, and positive change.
01:25And this is set to be a very special hybrid VivaTech edition.
01:29We have an amazing program for you over the next four days.
01:33We have sessions offering both an on-site experience here in Paris, but also an online experience.
01:39Thanks for all of you joining us remotely there.
01:42Thank you so much for being with us across the world.
01:45Now, all in all, we're going to be given access to over 300 innovations, 1,500 startups, and some 350
01:54speakers.
01:55Who are going to be joining VivaTech to share the very best of the world of tech for business and
02:01also society.
02:02As for what's happening right here on stage three.
02:05Well, each day we're going to explore two tech themes.
02:09One in the morning and one in the afternoon.
02:11So, today we're going to kick off with deep tech.
02:14And then we'll move into AI after lunch.
02:16So, let's dive straight into our first theme of the day, deep tech.
02:22With help and insights of renowned experts, we're going to delve into a whole range of deep tech topics.
02:28From gene editing to quantum computing.
02:31And we'll end the morning with a very special exclusive reveal.
02:36And I think I'm allowed to give you one hint, which is that it will involve a robot.
02:42I won't say more. Stay with us.
02:43So, for those of you in the live audience, do stay with us for the next three hours.
02:48We'll be giving you the opportunity to ask your questions to our panelists here.
02:53And our great speakers during a number of interactive segments, which I'll warn you about in advance.
02:58To submit your questions, let me explain how that works.
03:01You're going to have a slide coming up.
03:02You connect to the VivaTech platform via the app, which I'm sure you've all downloaded by now.
03:08You select the drop-down menu entitled Interactive Sessions with Slido.
03:13And then you select stage three, and you're set up and ready to send in your questions to us.
03:19Feel free to ask your questions any time as you listen during the session.
03:23Our panel moderators will make absolutely sure to get to those questions and get you some answers.
03:29So, without further ado, let's kick off with our first talk of the day entitled Unexpected Trends, Digging Into Deep
03:39Tech.
03:39And to tell us more, please join me in welcoming Anne-Sophie Carey's partner, Atelaya.
03:44Thank you, Anne-Sophie Carey.
04:13Thank you, Anne-Sophie Carey.
04:43C'est un marché pour certains, Deep Tech est une opportunité.
04:48Bien sûr, il y a des challenges, mais surtout des opportunités.
04:52Et c'est maintenant le temps de investir dans Deep Tech.
04:57Et tout le temps à travers mon discours,
04:59je vais partager avec vous les exemples de ce que nous avons investi dans l'Atelier,
05:03où nous avons trouvé les meilleures opportunités
05:06de l'Union Européenne venture capital, actuellement depuis 20 ans et où je suis un partenaire.
05:14Donc, Deep Tech, Atilaya,
05:17qui est une venture capital fondée en Paris,
05:20actuellement en Europe, les USA et l'Israël,
05:23ce qu'est Deep Tech ?
05:25Deep Tech est la technologie que nous trouvons dans l'académie,
05:29ou dans les laboratoires privées.
05:31Il vient de la recherche.
05:33Et notre travail, comme un venture capital fond,
05:35est à aider ces chercheurs-là,
05:38à unlock ces technologies,
05:41et à bringe-les à la marché,
05:43où ils vont être transformés dans une grande business.
05:48Dans la recherche de la marché,
05:51vous pensez que Deep Tech n'est pas là où je veux investir mon argent.
05:55C'est trop risqué.
05:57Et je crois que, un mois à Atilaya,
06:00au centre de l'innovatif startup écosystème,
06:04nous pouvons voir des signes d'un changement en paradigme.
06:08Et vous devriez lire les 2022 keynotes
06:12en Medium et en Madinès.
06:14Nous pouvons sentir que la tech bubble était en train de burst.
06:19Et, unfortunately, nous avons raison.
06:21qu'est-ce que le Nasdaq ?
06:24Il a stabilisé l'eau pour presque un mois.
06:28Les gens ont perdu leurs jobs.
06:30Les layoffs ont augmenté par 300 000
06:32depuis 2022.
06:34Et vous trouvez aussi que le marché du fondement
06:37réduit en ligne avec cette correction.
06:41Pour les dernières années,
06:43le médium de l'argent a été divisé par deux,
06:46de 108 millions de dollars en 2021
06:52à 50 millions de dollars en 2022.
06:56Et vous avez vu le revenu de l'arrivée
06:58des down-rounds et structurations.
07:01Vous avez tous entendu de la Silicon Valley Bank bankruptcy.
07:05Qu'est-ce que ça révèle à vous ?
07:07Que non seulement les start-up
07:09qui vendent à V.C.-back entreprises
07:12est en danger,
07:13mais aussi que le banque écosystème
07:16est en danger.
07:18Et vous ne pouvez pas éviter les signes
07:21d'une crise de l'arrivée.
07:23Les intérêts sont spikés,
07:25les prix se réveillent,
07:27et la guerre est à travers la frontière
07:29quand la Russie est attaquant l'Ukraine.
07:35Mais aussi, vous pouvez voir
07:37une absence de conséquences
07:39de cette crise.
07:42Vous avez entendu de la crise de la banque.
07:44Mais quelle crise de la banque ?
07:47Quand vous avez vu que l'amont de la banque
07:49de la banque est plus basée
07:51que 2008, 2012.
07:54Vous avez entendu de la récession,
07:57mais quelle récession ?
07:58Quand vous avez vu que la CAC 40
08:00est en bonne forme
08:02et que l'unemployment rate
08:07est sous 4% dans les pays de G7.
08:10Et vous avez entendu de la réaction de la réaction.
08:13Mais quelle réaction de la réaction ?
08:16Quand vous avez vu que pour les latest
08:19stage deals,
08:19comme nous le disait,
08:20les valuations pour la C et la C
08:23de l'investissement round,
08:24elles ont augmenté à minus 40%.
08:27Mais pour l'adapté investissement round,
08:30C et la C,
08:31la valuation correction
08:33a été de only minus 5%
08:35à minus 10%.
08:37Donc, en vant à cette réaction de la réaction,
08:40What you should know for sure is that tech is here to stay
08:45and disruption is renewed every day and increasing.
08:50You remember what Mark Zuckerberg said,
08:53move fast and break things.
08:55Well, it's all about deep tech.
08:57Deep tech is moving fast and is breaking things.
09:01It is disrupting.
09:03And here I would like to share with you two examples
09:06that you see here on these charts.
09:07My first example is about, you know about chat GPT.
09:12Their time to reach 100 million users has been of two months.
09:17In comparison, at Uber, their time to reach 100 million users
09:22has been of 70 months, which is almost six years.
09:26So this is six years to compare to two months.
09:30So it went much faster.
09:32My second example is about the tutoring market.
09:35You know about Chegg, the Californian leading companies.
09:40They are leaders in the homework help market.
09:43Well, their stock market valuation has been divided by two
09:47when they announced that chat GPT was hurting them on the tutoring market.
09:52So deep tech is breaking things.
09:56Then you may ask yourself, why should I invest in deep tech?
10:01And why has the Elia team been investing in deep tech for 20 years?
10:06Because deep tech takes the world on the edge of a new frontier.
10:11And here I would like to share with you our internal analysis at Elia,
10:17where we find the best deep tech opportunities,
10:20the best opportunities to invest in.
10:23First, definitely, you should consider the market of digital for life science.
10:30Let me give you a very exciting example.
10:33We just invested in a German company.
10:36They have developed an AI software to automate the diagnostic for leukemia,
10:41to automate the analysis of the diagnostic for leukemia.
10:45This will dramatically improve the diagnostic for cancer.
10:49Then the second topic to consider, I really recommend to you,
10:53is about quantum computing.
10:55We just invested in a UK-based startup, Quantum Dice,
11:00a spin-off from Oxford University.
11:02Very deep tech.
11:04This company, they have developed a hardware device,
11:07which is a quantum random number generation.
11:09And they unlock, they solve the pain point of securing communication.
11:16Third, in cyber security.
11:19Definitely, you should consider.
11:21We found great opportunities investing in Israeli companies in cyber security.
11:26And I want to share more opportunities with you where deep tech unlocks opportunities and value creation.
11:34In generative AI, chips, and clean tech.
11:37There is a lot of deal flow.
11:40In Greenbeats, for example, one of our French portfolio companies,
11:43these guys, they developed an AI software to reduce the carbon footprint of advertisement.
11:49All these deep tech opportunities, our internal analysis at Elaya,
11:54is that they will help the world.
11:57They will help transform the challenges that the world faces into great business opportunities.
12:03They can create a market.
12:04They can disrupt a market.
12:06Hence, their potential for growth is huge.
12:10And then, you could ask yourself, why now?
12:13What has changed?
12:14Well, the new thing now in Europe is money, public money coming to deep tech.
12:21European institutions, financials, they are currently deploying massive programs to support deep tech.
12:28BPI France, the French sovereign bank, is very active in deep tech.
12:32And the French government is deploying a lot of money on deep tech companies.
12:37And us, as a venture capital fund, for each euro that we invest in a deep tech company,
12:43we can benefit from the leverage with this public money.
12:47And this will optimize the performance.
12:51Then, if deep tech is so promising, you could ask yourself,
12:55why are there more investors in deep tech?
12:58What are the challenges?
13:00And I would agree with you that this can be a good question.
13:04Obviously, it is difficult.
13:05And you have to be a very experienced investor to invest in deep tech with tech DNA.
13:12First, the first challenge, you know, it all begins with people, with team.
13:18The founding team as a deep tech startup, very often, is formed as researchers with no business skill.
13:26At Ilya, we held them high, the first business profile, who will complement the founding team.
13:32Second, the intellectual property transfer can be challenging.
13:37Let me give you an example of what we achieved with Alice and Bob, our quantum computing startup.
13:45Their patents were shared between seven laboratories.
13:49And at Ilya, we could help them negotiate with these seven laboratories,
13:53because in our team, we have many PhDs, we have former researchers directly coming from the labs,
14:00and it's very natural for us to negotiate with the laboratories.
14:05Then, the third step for a deep tech startup is finding their product market fit,
14:11and finding their go-to-market strategy.
14:14And this can take longer than in other companies, and it can be more difficult.
14:19And at Ilya, we play the role of a sparing partner,
14:22we help them find the best value proposition,
14:26and we challenge their roadmap towards growth.
14:28Let me explain to you what we achieved with one of our portfolio companies,
14:33Cryteo, one of our unicorns in the portfolio.
14:36When we invested in Cryteo in 2004,
14:39they had developed an AI robot to optimize music playlists.
14:44As you know, in 2004, music playlists, the market was definitely not there.
14:50Our founding partner, he helped the funding team of Cryteo
14:55pivoted their product, which was great, towards the advertisement market,
15:00where they found a great success,
15:02and they got the company listed, and we could sell it as a unicorn.
15:07As you see, nothing would be possible without money.
15:11And fundraise is a big challenge for a big tech company.
15:16For a deep tech company, it can take longer, and you have more uncertainty.
15:21And at Ilya, as a very connected VC, we open our network,
15:25we open the doors of...
15:46We face challenges every day,
15:49but the market correction that we see now is rather an opportunity.
15:55And thanks to the tangible assets behind deep tech,
15:58we still receive very interesting M&A opportunities for our portfolio startup.
16:05And Europe is at a very exciting moment now,
16:09because money is coming to deep tech.
16:11And being a pan-European tech transfer platform enables us to get access to a wider deal flow.
16:18This is why us, at Ilya, we are investing in opportunities across Europe.
16:24Investing in deep tech with Ilya will give you access to the right people
16:28who will source primer sets at attractive valuation,
16:32at the right time to optimize your performance.
16:35And this is what we bring to you.
16:38This was an overview about investing in deep tech.
16:43And we have a passion for deep tech at Ilya.
16:45So if you want to share more about this opportunity,
16:49please contact us at Ilya.
16:51You know, at the end of the day, it is all about people.
16:55At Ilya, we have been backing technologies and tech entrepreneurs for 20 years now.
17:01And this is a true story.
17:03You can see here the logos of some of the companies that we invested in
17:07and who brilliantly delivered what they had said that they would do.
17:12Criteo, Miracle, Akemia, very great companies.
17:16And us, at Ilya, as a venture capital fund,
17:19we are here to help you succeed in deep tech,
17:22if you are a deep tech company or if you are an investor.
17:26So I will be around for a coffee and you can reach out to me to talk about deep tech.
17:56Thank you.
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