The impact of a Pan-European media startup accelerator: +80 startups supported
STADIEM (STArtup Driven Innovation in European Media) became the first pan-European programme to accelerate digital transformation in the European media sector by allowing promising start-ups and media players to innovate together. Selected start-ups got access to coaching, funding and the project partners’ extensive network. The impact of such a programme cannot be underestimated. During the project, the income of participating start-ups increased on average by 25% and the ones who have completed the full program have established commercial partnerships with several media houses in Europe.
Innovative startups for a strong European media sector
Startups need to be able to scale up in order to be successful in the long run. An international strategy and access to the market are crucial here. However, the European media sector is fragmented by cultural, legal and linguistic borders and relatively small media players. As a result, startups with growth ambitions often focus on the more attractive US and Asian markets, leading to a loss of talent and intellectual property to global competitors. This is where STADIEM makes a difference: its phased accelerator programme allows startups to collaborate smoothly with the European media sector. In turn, the participating media companies are exposed to disrupting and emerging technologies.
As many as 250 startups from 26 different European countries applied for the project. 81 of the most promising startups were selected to participate in the growth programme. This led to 40 collaborations with 32 media players from 12 European countries. Those collaborations focused on challenges such as disinformation, content creation and AI-driven solutions.
Accelerating digital transformation, business growth and funding
STADIEM accelerates digital transformation within European media organisations. Out of the ten startups that completed the full programme, nine succeeded to establish a long-term commercial partnership with their media partner. The other startup entered a partnership with another media partner a few weeks after the programme ended.
For instance, three startups successfully collaborated with VRT: Norwegian startup Web64, Dutch startup Smartocto and Flemish startup Tinkerlist. These new collaborations enable VRT’s Radio2 to create local news faster, VRT’s Sporza to get insights based on real-time interactions on their website and VRT NWS to direct live shows with an automated script platform.
STADIEM accelerates the business development of participating start-ups. On average, STADIEM connected each start-up to thirteen interested media players. The startups’ ‘ARR’, or annual recurring income, increased by 25% on average during their participation in STADIEM.
Finally, STADIEM accelerates investments and acquisitions in the startup ecosystem. A crucial moment for a startup is achieving an exit through an investor or via acquisition, a milestone that only a few achieve. According to data from the State of European Tech 22 report, an exit in Europe takes seven to eight years on average, with only 1 - 3% of startups achieving it. STADIEM offers startups the chance to present themselves at international events from Helsinki to Milan, giving them a platform to connect with both media players (corporate buyers) and private investors. After three years of STADIEM, four participating startups achieved a successful exit, while five other startups successfully raised capital in funding rounds.
A European wide collaboration
Thanks to the laudatory feedback from the European Commission and its demonstrated impact for the European media sector, the STADIEM consortium, including VRT, NMA.vc, Media City Bergen and Storytek, are exploring a new edition in 2024.
