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There’s a Reason That Netflix’s Ad Business Has Underwhelmed
Somewhat lost in the company’s slew of firings and engagement warnings over the past few weeks was the fact that Netflix is scaling back its ad forecast for 2026 from $3 billion to $2.7 billion. That’s despite the fact that: CTV is growing by 14-15% this year This year saw a monster upfront Netflix is the biggest streamer out there this side of YouTube, and was the platform that for years brands were supposedly dying to be a part of In other words, that’s an alarming pull-back from Netflix. A Wall Street analyst I spoke with last week was blunt, calling Netflix’s ad business “disappointing.” To me, a red flag on the ad front is that Netflix has never revealed how many ad-supported subscribers it has. Because if I know anything about how big companies work, if they have a positive number that makes them look really good - they tend to share it. (How many subs does go90 have right now? We’re not saying just yet. How are ads going on ChatGPT? Oh, a billion run rate - I see). Yes, to date Netflix has shared some fuzzy ad numbers, such as the idea that the company’s ad tier ‘reaches’ 250 million users globally.’ Here’s why that figure gives me pause: a)they lead with global, and b) they don’t explain how they are calculated. (Are they based on average people in each room? Surveys of some kind?). Regardless, some insiders say that Netflix’s ad tier is scaling nicely - others not so much. Either way, one of Netflix’s biggest challenge on the ad front appears to have been its starting point. Remember, when Netflix launched ads in 2022, it had 73 million subs in the US and Canada. That’s 73 million people who were used to Netflix with zero ads. And when the ad product rolled out, the company clearly was going after new users - a limited pool of potential subscribers by default. That focus seems to have changed over time, as Netflix has tried to convert longtime subscribers to the ad tier. Historically Netflix subscribers are very sticky. But is the company’s low churn a problem? Not necessarily, according to Antenna data. Rather, Netflix’s consumer loyalty is a bit of a double-edged sword. “Netflix is the one streamer which actually has seen substantial “trade downs” but has much lower ‘win backs,’ said Antenna founder Jonathan Carson (win-backs being people who were on the ad-free plan, cancelled, then rejoined on the ad plan). “Netflix has lower churn and so has less opportunity to win back old subs with a lower cost plan option.” This all might explain why Netflix has been so slow to roll out all of these table stakes targeting options until just this week. It likely didn’t have enough users to carve up into various targets. etc. However, what really hit Netflix’s ad business was Amazon’s move a few years ago to turn on advertising for Prime Video by default. Suddenly the market was awash in premium inventory, and Netflix was playing catch-up on multiple fronts. Thus, the streaming giant appears to still be figuring out if if wants lead in ‘programmatic TV,’ or premium ‘upfront’ TV sales. “The CTV market now sorts into three businesses, and Netflix is not the leader of any of them,” wrote analyst Jack Myers. Ouch. So how does Netflix ratchet up its ads business? Get the next NFL package You’re gonna have to wait until 2030 unless one of the bigger media companies like Skydance opts out, but the easiest (not cheapest) way for Netflix to become a huge TV ads contender is to get one of the regular NFL packages, ideally Sunday afternoons. That way it can sell ads to its whole U.S. subs base overnight. Go FAST This one is risky, because to program a compelling FAST channel, you’d likely have to take some older Netflix exclusive shows and make them available for free to non-subscribers. But FASTs, for better or worse, are ad-inventory machines. Go full UGC I’m not sure I see this happening. There is something already off about Netflix carrying podcasts and shows for creators. The experience sticks out in what is such a produced, and generally non-communal environment. But Netflix could open up its platform by allowing creators to upload videos without having to be approved by the service. But that opens a whole other can of worms (policing brand safety, copyright infringement, overall quality). Make a huge RMN Deal I was going to suggest something crazy, such as ‘instead of buying Warner Brothers, Netflix should buy Target. But the company doesn’t want to be in the brick and mortar business. Yet for Netflix’s ad business to compete in an Amazon world, it needs to be able to connect ad exposures to shopping. What if, instead of letting Amazon target Netflix viewers with its DSP, Netflix inked a deal with Target, or even took control of Roundel, and created its version of the Amazon full-funnel for brands? Price us out. I hope they don’t do this, but Netflix’s price increases - while significant - haven’t been enough to push long-term customers out of the ad-free tier. But if they made those prices so prohibitive, it could push large swaths of consumers to trade down. Then again, that could also dent engagement - as binging becomes much less appealing once you bring ads into the equation. Or, they could just launch a bunch of hit shows and maybe everyone will quickly forget all this angst. More from Amazon unBoxed A few weeks ago, I recorded two podcasts live at Amazon’s unBoxed event in San Francisco. I was able to go really deep with several brand partners about how Amazon’s various data and ad products work - particularly the under appreciated Amazon Marketing Cloud. First, I talked with Laura Abadias Velilla, of the Amazon specialty agency Amerge, along with Amazon’s own Charlotte Maines, Vice President, Devices Content & Advertising, about how the two partners helped a very specific printer company Epson launch into a brand new category - high end projectors. It’s a great example of how brands connect audience data across platforms to make budget deployment decisions. Next, I chatted with Monks VP Head of Digital Investment for North America Tom Burchill about how the agency actually brought in data from Linkedin to help target B2B customers across various Amazon properties for the brand Quicken. Check it out: Check these out, or just listen:
Green’s funding lags in CD9 race, even with $1.8M loan to himself
President Donald Trump’s fundraising committee gave nearly a third of a million dollars to the Republican candidate ahead of the 2026 midterms.
More Than a Charcuterie Board: A Mother and Daughter Build a Business Around Gathering.
The Bar Harbor Story is generously sponsored by Birch Bay Retirement Village. NORTHEAST HARBOR—Food’s ability to be a social cornerstone is one of the founding premises of one of Mount Desert Island’s newest, and perhaps most unique, endeavors in cuisine based catering. From intimate gatherings to large functions, Olive & Pearl creates charcuterie boards that can not only astound the tongue but also the eye. Many would agree that food can bring people together. In fact, culinary delights, and sometimes adventures, have been utilized as the centerpiece for social and business occasions of all kinds for centuries. Often times it even has the ability to start conversation, temper differences, and build new relationships. Settings can vary, from a multi-course sit down meal, a backyard barbecue, or a couple of bowls of chips and dip in front of a television, but the result can be the same. Humans come together, they share food, and the whole process is a catalyst for thought, communication, and a shared experience. Imagined and created by the mother and daughter team of Dr. Susan Scanlan (formerly MacCready) and Kayla Musetti, Olive & Pearl was started in June of this year and has been creating, delighting, and growing since. We gave the two an opportunity to answer some questions about themselves and their new venture. The love, passion, and pride for what they are doing and the fact that they are doing it as a mother and daughter team came through so strongly in their answers that we decided to present the question and answer session in its entirety. The Interview What did you do prior to Olive & Pearl? We’re a mother-daughter team, and food, family, and hospitality have always been a big part of our lives. Susan grew up in a large family in Pennsylvania, where the table was always at the center of everything. There were multiple dishes, little bites, stories, and plenty of conversation. Food was never simply about eating. It was about gathering, celebrating, and spending time together. After living in several Southern states, Susan relocated to Maine more than 20 years ago, and Maine has truly become home. She loves its sense of community, natural beauty, and connection to local food and makers. Professionally, Susan is a registered nurse and holds a doctorate in health administration. She has worked in a variety of clinical, nonclinical, and leadership roles and currently works as a faculty academic director. Building Olive & Pearl has been an exciting creative venture alongside her career. Kayla is also a registered nurse and works in the ambulatory surgery unit at Mount Desert Island Hospital. While healthcare is an important part of both of our professional lives, Olive & Pearl has given us an entirely different way to connect, collaborate, and create something together. Tell us about the business. Olive & Pearl is a mother-daughter charcuterie business centered around beautiful food, thoughtful presentation, and bringing people together. We create curated charcuterie boards designed for everything from intimate gatherings and dinner parties to weddings, showers, corporate events, boat days, and celebrations of all kinds. We think of our boards as more than food. They’re an experience and an invitation to gather, slow down, and enjoy time with the people around you. We’re intentional about quality ingredients, artful presentation, and personalization. Whenever possible, we also incorporate Maine-made and locally sourced products, including cheeses, jams, honey, seasonal produce, and baked goods. What inspired you to start Olive & Pearl? In many ways, Olive & Pearl grew out of something we had been doing our entire lives —bringing people together around food. We’ve always loved creating beautiful spreads for family and friends. There was something special about watching people gather around a table, graze, talk, laugh, and simply enjoy being together. Friends and family began telling us, “You should do this as a business,” and one day, we stopped laughing it off and started mapping it out. We realized we had an opportunity to combine our different strengths and create something that reflected what we both value: hospitality, creativity, quality, and connection. Charcuterie felt like the perfect expression of that. It’s beautiful and creative, but it’s also communal and approachable. At its heart, it brings us right back to where the idea began, a table filled with food and people gathered around it. Do you have a business partner(s)? Our business partner is each other! Olive & Pearl is truly a mother-daughter partnership, and building it together has been incredibly meaningful and sometimes hilarious! We know each other extremely well, which can be both a strength and, occasionally, a challenge. We have different personalities and strengths, but we’ve learned to lean into those differences and use them to our advantage. There’s a lot of trust between us, and we’ve learned how to communicate, collaborate, and occasionally laugh at ourselves along the way. We’re also building Olive & Pearl while continuing our careers in healthcare and education, so we’re taking things thoughtfully and growing the business one step at a time. We all have to start somewhere. One of the most rewarding parts has been having something that belongs to both of us. We get to learn from one another, celebrate the small wins together, and create something that we hope will become part of our family’s story for years to come. When exactly did you launch the business? Recently, in June 2026, we launched Olive & Pearl, turning an idea we had talked about for years into real business. It has been incredibly rewarding to watch something that started around our own family table and begin to find a place within the community. How is it going so far? How do you feel it has been received? It has been going very well, and we’ve been incredibly encouraged by how warmly Olive & Pearl has been received. As more people hear about us, our orders have continued to increase, and we’re seeing growing interest in boards for events and celebrations. It’s exciting to watch something that began as an idea between the two of us start to grow within the community. One of the most rewarding parts is hearing from customers after their events or seeing photos of our boards being enjoyed. Knowing that something we created became part of someone’s celebration is incredibly meaningful to us. Is there a brick-and-mortar location or is it all online? Olive & Pearl is currently an online business. We’re intentionally starting this way so we can build relationships with our customers, learn what they love, and grow thoughtfully. Our long-term dream, if the business continues to grow, is to eventually have a sit-down space where people can experience Olive & Pearl in person. Do you have any future plans if things go well/keep going well? Absolutely. For now, our focus is on continuing to grow Olive & Pearl, getting to know our customers, and becoming part of more celebrations and gatherings throughout the area. Long term, we would love to have our own physical space where people can come together and experience Olive & Pearl beyond the boards themselves. We can imagine a place that combines food, hospitality, creativity, and community. Ultimately, we want to build something that continues to grow while still feeling personal and connected to the people and community around us. Is there an aspect of the business that you really love? There are so many things we love about it, but the people and the connection are probably at the top of the list. We love creating something beautiful, but what really matters to us is what happens after we hand it over to the customer. We picture our boards on kitchen islands, at backyard gatherings, on boats, at weddings, or around a long dinner table—with people laughing, talking, and lingering a little longer. We also love the creative side. Every board is an opportunity to play with color, texture, shape, seasonality, and flavor. We don’t just want to fill a board, we want to curate an experience. And supporting local makers is especially meaningful to us. Whenever possible, we love incorporating Maine-made cheeses, local jams and honey, seasonal produce, and products from nearby bakeries and businesses. It allows us to showcase some of what makes Maine so special. Perhaps most importantly, we love doing this together. Building something as a mother and daughter has given us another way to spend time together, learn from one another, celebrate small wins, and create memories. Is there anything regarding any aspect of Olive & Pearl that you may think is important that is not reflected on the website? One thing that may not always come through online is just how personal this business is to us. Olive & Pearl isn’t something we created simply because charcuterie was popular. It grew very naturally from our family, our traditions, and the way we’ve always enjoyed gathering with people we love. There is a lot of heart behind every board. We think about the people who will be enjoying it, the occasion they’re celebrating, and how we can make the experience feel special. We also want people to know that we care deeply about supporting locals whenever possible. Using Maine products isn’t just about sourcing ingredients, it’s about telling a little story about where we live and the talented people who make and grow wonderful things here. Is there anything that we have not asked that you think is important/relevant that would like readers to know? We hope people see Olive & Pearl as more than just a charcuterie business. At its heart, it’s about gathering. Our goal is to make it easier for people to create those moments when everyone gathers around the table, conversations last a little longer, and people simply enjoy being together. We also hope people see the mother-daughter story behind the business. We’re building Olive & Pearl alongside our careers, one step at a time, and there is something incredibly special about creating a shared family legacy in the process. For us, success isn’t just about how many boards we make. It’s about becoming part of people’s special moments - birthdays, weddings, weekends with friends, quiet evenings at home, or a beautiful day on the Maine coast. If one of our boards helps people put down their phones, linger a little longer, laugh a little more, and enjoy the people around them, then we feel like we’ve done exactly what we set out to do. All photos courtesy of Olive & Pearl. LINKS TO LEARN MORE Olive & Pearl website Olive & Pearl Facebook Olive & Pearl Instagram RECENT PRESS RELEASES AND BRIEFS To see all the press releases, click here. To see our news, click here. For the full archive, click here. All of these are on our dedicated website. [ ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ Pemetic Students Share Thoughts on Declaration of Independence Oct 22 ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ Read full story ](https://barharborstory.substack.com/p/pemetic-students-share-thoughts-on) [ ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ Fall Festival at the Nor’Easter for Mount Desert Nursery School, October 24. Oct 22 ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ Read full story ](https://barharborstory.substack.com/p/fall-festival-at-the-noreaster-for) [ ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Explore career opportunities where you make a difference for Maine’s natural resources—and the people who enjoy them. Oct 22 ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Read full story ](https://barharborstory.substack.com/p/explore-career-opportunities-where) [ Cranberry Isles Comprehensive Plan Committee Oct 22 ](https://barharborstory.substack.com/p/cranberry-isles-comprehensive-plan) [ Read full story ](https://barharborstory.substack.com/p/cranberry-isles-comprehensive-plan) [ ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) [ Community School Hosts a Pancake Breakfast Fundraiser October 25! Oct 22 ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) [ Read full story ](https://barharborstory.substack.com/p/community-school-hosts-a-pancake) HELP SUPPORT THE BAR HARBOR STORY When we started The Bar Harbor Story, we didn’t know if anyone would read it. But you showed up. You shared. You sent tips. Now—over 400,000 views every month later—it’s clear: people here care about their community and each other. We’ve kept everything free because news should never be out of reach, but every one of our stories takes time to write, and your support keeps The Bar Harbor Story going. If you value our work, please consider a paid subscription, a founding membership, or a sponsorship. It truly helps us cover one more meeting, tell one more story, shine one more light. Even $5 a month makes a difference. Click here to become a one-time supporter now. Thank you so much for being here. Founding member information can be found here. Have questions about sponsorships? Just send Shaun an email at sfarrar86@gmail.com, he’d love to hear from you. Subscribe Share Bar Harbor Story Share Leave a comment
America’s socialist surge and its hard limits
Socialism is gaining ground in the US, fuelled by anger over inequality and economic insecurity. But can its rising popularity translate into lasting political influence across the country? US author and academic Michael Kazin sheds light on the issue.
Forgotten record review: Painless jazz
Jazz is a niche market, and the folks who love jazz really love jazz. Their passion, and the cult-like nature of jazz, has given rise to a certain snobbery regarding jazz music. That snobbery is limited almost exclusively to the years 1947-1967.
Maqui Berry: Health Benefits, Nutrition, and Uses
Maqui berries contain anthocyanins and other polyphenols studied for their antioxidant activity and effects on inflammation, glucose regulation, and eye health. Human trials suggest possible benefits for postprandial blood glucose and dry-eye symptoms, but evidence for healthy aging and long-term safety remains limited.
Q&A: How AI came to model the “messy” human mind
MIT Assistant Professor Benjamin Lindquist discusses his research on the incorporation of randomness and irrationality into early AI models designed to mimic human creativity.
Patrick Mahomes practicing Thursday
No limitations for Kansas City Chiefs QB Patrick Mahomes Thursday
Pitbull admits he ‘got excited’ by Jennifer Lopez in viral 2011 AMAs photo. Here’s why
The duo have collaborated on songs including the 2011 track “On the Floor.”
Chinese astronomers find real 3-body system. It is not what Liu Cixin thinks
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Trump Asked Musk to Reverse Limits on Ukraine’s Military Internet Use
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Former Vice President Harris joins campaign trail to hear rural healthcare concerns
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Left alone with nothing to do, AI agents started playing
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Matthew Golden limited Thursday
Green Bay Packers WR Matthew Golden dealing with shoulder injury
Jaylen Waddle limited Thursday
Chest injury limits Denver Broncos WR Jaylen Waddle Thursday
Another limited practice for KC Concepcion
Browns WR KC Concepcion a limited participant Thursday because of two injuries
Ravens upgrade Vega Ioane, Rashod Bateman on Thursday injury report
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Oral Health Disparities and Parental/Caregiver Role in Dental Care Among Children With Special Healthcare Needs and Children Without Special Healthcare Needs in Sriganganagar, Rajasthan: A Cross-Sectional Study
Background: Children with special needs often face greater challenges in maintaining oral health due to physical, intellectual, or behavioral limitations. Their oral hygiene depends largely on c...
The business case for pro bono: indirect benefits with social impact
Pro bono work has evolved into a driving force within Argentina’s legal profession, expanding access to justice while strengthening law firms, lawyers and civil society organisations. Through collaboration and institutional commitment, it has become a powerful tool for talent development, reputation building and long-term impact.
DeVonta Smith misses first practice for week
Eagles WR DeVonta Smith sidelined because of his hamstring injury
Another limited practice for Adonai Mitchell
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What's going on, South Dakota?
Submit your events for The Dakota Scout's Lounge section by emailing events@thedakotascout.com
Arizona healthcare job growth faces staffing challenges
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George Pickens a limited participant Thursday
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Supreme Court says New Hampshire can limit use of student IDs for voting
The Supreme Court on Thursday allowed New Hampshire officials to limit when voters may use a student ID to receive a ballot, agreeing that a lower court ruling that blocked enforcement of the policy was too close to Election Day.
John Fisher Hints at A's New Pitching Direction
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Besiktas 2-2 Crystal Palace: Jean-Philippe Mateta and Yermey Pino strike but Palace forced to settle for Europa League draw in Istanbul
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Bengals vs. Ravens Injury Report: Lamar Jackson limited again
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Judge limits election-related immigration stops amid broader legal war ahead of midterms
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Omnicom lands Coca-Cola’s North American media business, as WPP retains its global remit
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Georgia’s Five-Star QB Commit Visits Michigan as Underwood Sits
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GOP player in ‘ghost’ candidate scandal behind texts slamming AG candidate
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County BZA approvals permit poultry, business expansions
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‘Clear political stunt’: Beshear rejects Ball’s nominees for executive ethics commission
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Stony Brook Researchers David Miloschewsky and Supartha Podder Resolve a Decades-Old Puzzle About the Limits of Quantum Computing
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Amazon renames Kindle Unlimited to Kindle Plus and expands access to audiobooks
Kindle Unlimited is now Kindle Plus.
This New G-Shock Looks a Lot Like One of the Most Iconic Watches Ever Made
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Red Wings Executive Makes Troubling Admission About Dylan Larkin’s Future
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Kristen Bell says she cries weekly over challenges of family life: ‘It’s brutal’
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Trump’s shock-jock politics don’t work for everyone. An Ohio attack ad is proof.
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The Crooks family business is volleyball excellence
Wesleyan Christian Academy's Nejari Crooks is heralded as a 5-star volleyball prospect committed to Penn State. Her coaches at WCA are her own parents, each of which have their own storied history with the game of volleyball.
Summit County Public Health offering updated COVID-19 vaccines
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Senate Health Committee Holds Hearing on Impacts of H.R.1
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Goldman Sachs spends big to give small businesses an AI boost
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Amazon's Kindle Unlimited is now Kindle+, and the 2 big changes include AI audiobooks
Unlike narrated audiobooks from Audible and other providers, the audiobooks created with Virtual Voice in Kindle+ will instead be narrated by AI.
TxDOT, RGV Business Leaders Tackle Overweight Truck Corridor Dilemma at Infrastructure Summit
TxDOT leaders Alex Meade, Pete Alvarez, and Brian Barth discuss a hot topic at RGV Partnership summit.
TxDOT, RGV Business Leaders Tackle Overweight Truck Corridor Dilemma at Infrastructure Summit
TxDOT leaders Alex Meade, Pete Alvarez, and Brian Barth discuss a hot topic at RGV Partnership summit.
Women who changed science missing from GCSE and A-level courses
Despite social, economic and institutional barriers limiting women’s formal participation in science, they made numerous key breakthroughs.
Meet Mori, a Cute Robot Mushroom That Doesn’t Really Say (or Do) Anything
Step one in convincing people to live with robots with cameras on their faces? Disguise them as cute home decor.
Sasin and Thai Airways Partner to Bridge Business Education and Real-World Experience
Sasin School of Management, Chulalongkorn University, and Thai Airways International Public Company Limited have signed a Memorandum of Understanding (MOU) to promote cooperation in education and student development, connecting classroom knowledge with practical experience in the business sector.
Introspection required if EU Inc fails, says start-up lobbyist
European start-ups have a new voice in Brussels. Startups for Europe, created from the merger of lobby groups Allied for Startups and the European Startup Network, is hoping to harness the momentum behind EU-Inc, a campaign that united start-ups and investors behind demands for a new pan-European company regime.At a launch event for the new association in Brussels on October 1, the mood was remarkably upbeat compared to a typical Eurobubble gathering, more Silicon Valley than Schuman roundabout.When asked whether this reflects a feeling that Europe is on the right track, chief executive Serena Borbotti-Frison said it’s a “scary” moment as the continent looks to boost its competitiveness amid a new technological arms race.“What is at stake is quite intense, and the way we can answer is by delivering, but also with hope,” she told Science|Business. “It’s what our industry does. It’s not about identifying a pain point and then saying it’s too hard.”For many in the start-up community, that sense of hope is dwindling. In March, the European Commission presented its proposal for EU Inc, naming its initiative after the grassroots campaign.EU Inc was meant to be a gamechanger: the ability to incorporate within 48 hours for less than €100 and scale up across Europe; a harmonised stock option regime enabling start-ups to compete for talent; and simplified insolvency procedures for innovative start-ups to reduce the cost of failure.However, haggling by EU governments has raised concerns that EU Inc will be stripped of the very features, including stock option harmonisation, that are meant to make it attractive for companies.“I fear we are proving to ourselves that the model doesn’t work,” Borbotti-Frison said of the policymaking process. “Everyone agrees we should have EU Inc. Everyone agrees it’s hard to scale and we need to scale to answer the competitiveness [challenge], and still we cannot deliver? [. . .] What does that say about ourselves?”The Commission has made EU Inc a cornerstone of its single market reform, and has agreed with the European Parliament and the Council of the EU to target an agreement by the end of 2026. However, several points are currently holding up an agreement, including national rules around employee participation in management decisions, and the provision that employee stock options always be taxed at the point of sale. Some EU governments have reportedly pushed back on the Commission’s choice of legal basis, contending that anything related to taxation requires unanimity in the Council.Trade unions have also protested against EU Inc, fearing it will be exploited by companies looking to undermine workers’ rights.“If this doesn’t work, it’s introspection time, on the way our institutions work, maybe the way our lobbies work, and maybe the way the cooperation between them works,” Borbotti-Frison said.“Is it in the national interest? Is it a gap between political will and technical ability to operate? Is it speed? I don't know, but something needs to be fixed.”Ahead of last week’s European Council meeting, EU-Inc campaigners tried a new strategy: appealing directly to EU presidents and prime ministers. In an open letter, they urged EU leaders to “step in and give your negotiating teams a clear mandate to change course and reverse their objections to the Commission’s original proposal.”Lessons from EU-IncLike its predecessors, Startups for Europe will represent national start-up associations, but it is also targeting investors. The founding sponsors are venture capital firm Atomico and EQT, the investor selected earlier this year to manage the €5 billion Scaleup Europe Fund.It also wants to harness the knowledge and cross-border experience of European success stories. “Take the list of the 100 biggest unicorns in Europe. We are speaking to all of them,” Borbotti-Frison said. The association plans to publish a full list of supporters following the Slush tech conference in Helsinki in November.Andreas Klinger and Simon Schaefer, two key figures in the EU-Inc campaign, are both on the board of the new association, and Startups for Europe wants to take the lessons from their campaign.What was unprecedented about EU-Inc was “how rooted it was, and how strong it was in bringing everyone on board behind one clear pain point and solution to fix it,” Borbotti-Frison said. “This is an inspiration for us, and then we need to turn it into something more systematic, more bridged in Brussels, more connected to the policymaking game, and to scale it.”If it’s possible to unite such a broad coalition, it’s because the European start-up ecosystem is now mature, she said. “Maybe it was not ten years ago. Maybe it was not five years ago. But now, it’s mature to speak with one voice.”Open and liberal EuropeThe association plans to campaign on files related to three “pain points,” Borbotti-Frison said: “start and scale in Europe, fundraise and invest in Europe, and making Europe the most innovative continent.”As well as EU Inc, she cited public procurement, the EU’s simplification push, the Savings and Investments Union, and files related to AI adoption and technological sovereignty as priorities for the coming months.What these files have in common is that they relate not to subsidies but to the framework conditions influencing the availability of mostly private, or in the case of procurement, public, funding.Related articlesEmployee participation disagreement delays MEPs’ vote on EU IncCommission urges EU governments not to water down EU IncEU’s ‘ultra-fast’ €5B scale-up fund is set up to win, says its fund managerThe budget dispute over the next Horizon Europe programme will also impact start-ups, which are supported notably through the European Innovation Council. But EU innovation funding is a drop in the ocean compared to venture capital and public procurement budgets.“If competitiveness and innovation are a priority, then the [EU budget] should reflect it,” Borbotti-Frison said. However, she added that the main question is not how much public money is invested, but “how do we create the right conditions for the market to solve the problem?”The Scaleup Europe Fund mixes both approaches, using €1 billion in EU funding to crowd in private investors and address Europe’s lack of large-scale, late-stage growth funds. “It’s a proof of concept. Ideally, then the market will do it itself,” Borbotti-Frison said.Startups for Europe is also focused on bringing an alternative political narrative. Amid competing visions for open, global markets on the one side and a protectionist Europe on the other, it wants to offer “a third voice, to say we can be proudly European and build a strong continent in a liberal economy, open to the world, and global.”It can be tempting, when thinking about how Europe can better support innovation, to look across the Atlantic. But while it’s important to compare statistics to see where Europe needs to catch up, that’s where the comparison should stop, Borbotti-Frison said. “On everything else, we need to do it our own way. We don't have the same history. We don't have the same political model. We don't have the same way of life.”Many of the key files that could benefit the start-up community, including EU Inc and the Savings and Investments Union, rely on closer integration within Europe, making it easier to operate across borders.While the Commission has made deepening the single market a political priority, support at national level is more precarious. The coming months will see pivotal elections in Spain and France, while the German government has also been coming under pressure domestically. In each country, far-right parties have been gaining ground.When asked if she was concerned the political situation could jeopardise this progress, Borbotti-Frison responded: “Of course. I would be lying if I said I wasn’t.” However, she continues to believe that cooperation is the only way forward. “Doing it alone is not the solution. It’s also not who we are, it’s not the model we are building, and it’s not the scale we need.”
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EPCO was born from the EU-PolarNet projects funded through Horizon 2020 and currently coordinates the EU Polar Cluster, a network of EU-funded collaborative polar projects.While the practical details remain to be defined, the decision sends “a clear and positive signal,” said Maria Grigoratou, head of EPCO and executive secretary of EPB. “By reinforcing EPCO, the Commission has an opportunity to build on the legacy of EU-PolarNet 2, strengthen European polar research coordination and expand cooperation with a broader range of Arctic stakeholders,” she told Science|Business.The move has been welcomed by the polar research community. “The polar research hub could play an important role in connecting existing research communities, observation systems and infrastructure, and in bringing scientific knowledge closer to policymaking, in cooperation with local communities and Indigenous people,” said Katrine Moland Hansen, director of operations at Norway’s Nansen Environmental and Remote Sensing Center.But money will be an issue. “It is clear that EPCO will need more resources and structure to function well and to make research reach policymakers,” said Kati Lindström, vice-chair of the Polar Research Committee of the Estonian Academy of Sciences. “European polar research is big if we pool the resources, and it should not only be left to enthusiastic scientists to develop networks of strategic importance in their free time.”The Arctic strategy makes a point of saying that local communities should have a greater involvement in Arctic science. “All EU Arctic research consortia are mandated to invite Indigenous people representatives to participate in projects,” it reads. “The EU also supports research that is directly led by Indigenous communities and address their challenges.”It also underlines the importance of reinforcing collaboration with like-minded partners such as Norway, Iceland, Canada, the UK, Japan and South Korea, as well as deepening its engagement with NATO. This includes the US, with which “the EU is committed to continuing a pragmatic transatlantic engagement based on shared interests and values.”Related articlesViewpoint: Does Europe dare to invest in the Arctic?Anchor Greenlanders in Arctic climate research, experts tell EU ahead of policy updateFor Moland Hansen, this open and inclusive approach to cooperation is encouraging. “The Arctic is also a strong example of why equal participation of associated countries in EU funding instruments matters.”Overall, she finds the new Arctic strategy to be ambitious, timely and comprehensive. “We particularly welcome the recognition that climate change, environmental protection, security, resilience and competitiveness are closely interconnected,” she said. “Research, observations and forecasting capabilities are essential to understanding the rapid changes taking place in the Arctic and addressing these challenges together.”Security focusWhile the Arctic strategy foregrounds security, with pledges to protect undersea cables, boost satellite monitoring, deploy more icebreakers and improve military mobility, the polar community is satisfied that environmental concerns have not been forgotten.“It is inevitable that there is a strong security angle to the EU Arctic strategy, but the impact of climate change and need for climate mitigation and resilience is also strongly recognised and includes a pledge to stay the course on climate commitments,” said Sian Prior, lead advisor to the Clean Arctic Alliance, a coalition of campaigning non-profit organisations.“We need to remember that by the time the next Multiannual Financial Framework comes to an end, in 2034, the polar regions, especially the Arctic region, will be living under a new reality when it comes to ecosystem processes, when it comes to the climate,” Grigoratou went on. “And that will affect any ambition that humans may have in the region.”Lindström agreed. “All aspects of European security are dependent on climate change in the Arctic and consequently, on climate science,” she said. “We cannot close our eyes to issues like energy security, critical minerals, northern shipping routes, dual-use technologies and others. However, it remains to be seen how well the promises to protect the environment and Indigenous rights will hold when faced with critical mineral extraction under the Critical Minerals Act.”
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