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Europe’s mid-caps: Making the economic difference

Wedged between Europe’s SME sector and the biggest companies, there is a dynamic, innovative, but often overlooked category of businesses: mid-caps. With institutional and private sector partners, the EPC has established a three-year task force project to explore and structure the debate around mid-caps’ role in Europe’s economy.

Relying on what is often a specific economic model, mid-caps are an important part of Europe’s capacity to face the current economic shocks. They deliver on the EU’s overarching strategies, from the green and digital transitions to economic security. As entrepreneurial and innovative companies focused on the long-term and territorially anchored, they are the backbone of Europe’s growth and jobs. Through their technology and export focus, they often develop in global niches but can also be dependent on global supply chains. In this regard, Mid-caps now stand at the hard edge of Europe’s economic, industrial policy and strategic autonomy debates.

There is, however, a lack of data and understanding of the mid-caps category at the national and European levels, which in the worst case, will result in sub-optimal policy choices. As the EU has engaged a broad rethink of its single market, investment and industrial policies, it is critical to make up for this inattention. Working with the European Investment Bank (EIB) and other partners, the EPC is looking to bring forward Europe-wide data on mid-caps’ role in growth, employment, investment, innovation and international exposure.

The EPC’s mid-caps project also functions as a task force, aggregating stakeholder actors interested in exploring the links between the sector and the EU’s overarching strategic and economic goals through research and policy exchange. The project’s work will be structured in several workstreams, the first two focussing on ‘Financing and investment conditions for mid-caps’ and ‘Shaping an enabling ecosystem across the single market’.

Past project events: 
  • EPC Hybrid Roundtable: “European Mid-caps: Facing the crisis and economic transitions“, 28 June 2022
  • EPC Hybrid Roundtable: “Mid-caps investment and financing needs”, 26 October 2022
  • EPC Hybrid Roundtable: “A single market and regulatory environment fitter for competitive businesses: what should be done?”, 28 June 2023
  • EPC Hybrid Policy Dialogue: “Making the EU’s regulatory environment fit for competitive businesses”, 28 June 2023
  • EPC Hybrid Roundtable: “Making the EU regulatory environment fit for competitive businesses”, 18 October 2023
  • EPC/BDI Hybrid Workshop at the BDI in Berlin: “The importance and role of mid-caps in Europe´s economic transitions”, 6 December 2023
  • EPC Half Day Conference “Europe’s response to economic crises and transitions” with keynote speech of Commissioner Thierry Breton and three high level panels (10 January 2024), including Panel 2: “Europe’s competitiveness challenge – How to make the EU regulatory environment fit for business?” where the EIB Chief Economist Debora Revoltella presented the ECP/EIB paper on mid-caps “Hidden Champions, missed opportunities”.



Competitiveness / DISCUSSION PAPER
Towards a Competitive Edge: Reforming the EU Regulatory Framework
By Georg Riekeles , Philipp Lausberg , Miguel Otero-Iglesias , Agustín González-Agote - 17/04/2024
Economic governance / EXTERNAL PUBLICATION
Hidden champions, missed opportunities: Mid-caps’ crucial roles in Europe’s economic transition
By Georg Riekeles , Philipp Lausberg , Laurent Maurin , Julie Delanote , Huyen Tran - 26/01/2024
Economic governance / COMMENTARY
Facing a recession, Europe should focus on its mid-caps
By Francesco De Angelis , Georg Riekeles - 13/09/2022


Associate Director and Head of Europe's Political Economy programme
International negotiations, trade, EU’s international role, security and defense, single market, digital policies, EU governance and interinstitutional relations, future of Europe
Policy Analyst
EU economic governance, banking and financial policy, energy policy, industrial policy, the single market, politics and economics of Russia and Eastern Europe
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EU energy security, governance, and industrial policy

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