1、The Electrification of EuropeStartups and VC data report 2024September 2024Page/2 In todays world,business growth is directly linked to environmental degradation,and we consume the resources of approximately 1.7 Earths every year.One important element that we are heavily dependent on is fossil fuels

2、.These are used for electricity,transport,heating,and cooling,as well as in the creation of plastics,textiles,household products,and more.We need to find more sustainable ways to grow our business.The good news is that we can replace 75%of fossil fuel consumption in several sectors with clean energy

3、 production.This opens opportunities for many new companies to enter new business areas such as solar and wind energy,electric vehicles,batteries,heat pumps,and more.These companies will want to start quickly and grow fast,while,at the same time,drawing on the experience of other companies that have

4、 built and scaled before them.SAP is in a unique position to help companies transition their business model to one thats more sustainable.At the same time,SAP supports scaleups with its broad and deep industry knowledge in defining their business model and business processes,based on 50 years of exp

5、erience.With SAPs latest cloud solutions,any scaleup with high growth ambitions can start small and scale later.Our team,GROW with SAP for scaleups,is dedicated to providing scaleup companies with the tools,services,and solutions they need to continue growing.We help companies scale their business,b

6、oost operational efficiencies,and expand with confidence all through our SaaS platform.Backed by best practices,it can help you manage core business functions like finance,accounting,operations,production,human resources,and travel expenses,all powered by Business AI.With all this in mind we created