初创企业和中小企业：如何刺激欧盟这些重要增长引擎的扩张？

ULES OF THEAME How toStimulate theExpansion oftheseVital Growth Engines of theEuropeanUnion? NicolasSERVEL& FabioBERTONI SKEMA PUBLIKA SKEMA Publika is SKEMA Business School’s international think tank. It analyses major social,economic, technological and geopolitical changes to inform public and private decision-making.Drawing on the school’s research and on scientifically validated externalcontributions, the think tank fuels public debate and issues recommendations for nationaland international decision-makers. SKEMA Publika takes an interdisciplinary and international approach, enriched by SKEMA’sglobal network of campuses and a community of experts from the academic andprofessional worlds. This international dimension is not simply a network, but a way ofthinking. SKEMA Publika therefore links local dynamics and global transformations to offera multipolar perspective on the major challenges of our time, not centred on any singlenational lens. The views expressed in this text are those of the authors alone.© All rights reserved, SKEMA Business School, 2026Cover page: Blue and white flags on a mast. Photographer: Guillaume Périgois. Unsplash.com; © ODAN SKEMA Publika Tel.: +33.1.71.13.39.32E-mail:publika@skema.eduWebsite:www.publika.skema.edu SKEMA Business School, Campus Grand Paris5 Quai Marcel Dassault – CS 9006792156 Suresnes Cedex, France COLLECTION Rethinking Norms and Governance The “Rules of the Game” collectionexplores the normative and institutional frameworksthat shape economic and political behaviour, enabling actors to understand, protect andassert their strength. READING COMMITTEE Frédérique Vidal,Director of Development at SKEMA Publika and Director of Strategy andScientific Impact at SKEMA Business School. A full professor of Biology, she was president ofthe University of Nice Sophia Antipolis from 2012 to 2017, and subsequently served asministerof higher education,research and innovation in the Philippe and Castexgovernments from 2017 to 2022. She served as special advisor to the President of EFMDand is currently also the Permanent Representative of the Principality of Monaco to theUnited Nations Environment Programme and the Whaling Commission. Sean Scull,Think Tank Project Manager, is a doctoral candidate in Information andCommunication Science at Université Paul Valéry – Montpellier III. He holds a degree inPolitical Science with a specialisation in International Relations from the University ofGothenburg, and a Master’s degree in International Politics with a focus on Anglophonepolitics from the University of Toulon. Sean has lived and worked in Sweden and the UnitedStates of America. Grégoire Kraoul–Riera, student in the Master’s in International Governance and Diplomacyprogramme at Sciences Po Paris. A graduate of SKEMA Business School’s Grande Écoleprogramme and holder of a Master’s in Business Law with a specialisation in European Lawand New Economies from Université du Littoral – Côte d’Opale, he focused his researchdissertation on the regulation of digital industries in the European Union, exploring theintersectionbetween law,industrial economics and international governance.Uponcompletion of his master’s degree at Sciences Po, he intends to join an internationalorganisationto contribute to multilateral dialogue and the development of globalgovernance for new technologies. AUTHORS Nicolas Servelis Professor of Practice and Director of the MSc Entrepreneurship &Innovation programme, Co-Director of the MSc Entrepreneurship, Technology and StartupManagement programme, and Co-Director of the MSc Entrepreneurship & Design forSustainability programme at SKEMA Business School. Before joining SKEMA, Nicolas workedduring 20 years for major strategic consulting firms (KPMG Strategy, L.E.K. Consulting, …),before co-founding a consulting firm and working in corporate strategy roles for fast-growingtechnology companies. The majority of this experience was gained working directly forfounders/CEOs of start-ups or SMEs/SMIs. He holds a master’s degree from Paris Dauphine-PSL University and an MBA from the University of Cambridge. Fabio Bertoniis a Professor of Finance at SKEMA Business School and a member of the FAIRRresearch centre. His research focuses on corporate finance and fintech. His latest workexamines the long-term effects of secured loans on the performance of SMEs in terms ofgrowth, employment and productivity. He holds a PhD in Management, Economics andIndustrial Engineering from Politecnico di Milano and is a Chartered Financial Analyst andChartered Alternative Investment Analyst. SUMMARY This policy paper explores ways to stimulate the growth of start-ups andsmall and medium-sized enterprises (SMEs), first in France and then inEurope. More specifically, this study discusses how public procurement andguaranteed loans could be solutions to promote economic growth. The studyalso lists a series of concrete public policy recommendations, including theneed to facili