We have great minds in Europe, highly-qualified young people, good infrastructure, financial resources, strong industries. And yet not a single world tech champion has emerged in Europe in the last 30 years. A specific StartUp initiative within the Digital Single Market Strategy is the right way to address these concerns.
European StartUps expect the European Commission and policy-makers in Brussels (and across the EU) to deliver an ambitious and clear signal that the Digital Single Market Strategy will address their needs and expectations. And this for one single and clear objective: be able to grow and scale in Europe.
However, this cannot happen by magic, nor by chance.
We have great minds in Europe, highly-qualified young people, good infrastructure and financial resources. I see this everyday in our activities with the European Young Innovators Forum in our more than 16 hubs across Europe.
Yet, our best people are leaving – or willing to – to StartUp ecosystems that are more welcoming to their ambitions. We have a world-leader automotive industry, yet the automated cars are coming from Google or Apple.
We have strong industries but not a single world tech champion has emerged in Europe in the last 30 years. I believe that a specific StartUp initiative within the Digital Single Market Strategy is the right way to address these concerns.
The European StartUps Initiative would see a set of measures addressed specifically to support highly innovative small companies and create the conditions for the emergence of a strong pan-european tech scene.
Such an initiative would send an unequivocal message to the emerging –and everyday stronger – European ecosystem, but not only. It will also be a signal to foreign investors that something is changing in Europe and there are more opportunities and potential deals to be concluded in this continent. The story-telling is as important as the content.
Moreover, such an initiative would not only be symbolic but would have an concrete effect: unlock startups growth and scale capabilities. How do we achieve this?
One key measure –and highly symbolic – would be the creation of a European Statute for the highly-innovative small companies.It’s nice when European leaders and policy-makers talk about regulatory simplification. It would be even better if they actually do it.
One statute, that would enable European StartUps to operate in the Digital Single Market without any obstacle and burden would be a great step and would definitely attract investment for young entrepreneurs and innovators.
Investors want simplicity and certainty. Such a statute would also facilitate the emergence of a true European Venture-Capital Market where capital flows more easily to different startups ecosystems.
Finally, copyright. We need to adapt it to the Digital Single Market. It’s a shame that Spotify had to leave Europe due to regulatory issues to be able to grow and scale.
A StartUp initiative would not be successful if we do not work on the ecosystems and people’s skills. It goes together. One supports the other. Making the European startup ecosystem stronger means supporting the diversity of actors who act as the enablers and builders.
It is through them that young entrepreneurs and innovators could access better mentoring and training opportunities, improve their digital skills and be connected to other innovators and entrepreneurs in Europe and the world.
On February 18th, the European Young Innovators Forum organized a European StartUp showcase at the Global Innovation Summit in the Silicon Valley as part of its Disrupt Europe Year activities.
I can tell you that American investors were seduced by the bright European minds and ideas. And you just need to visit the Silicon Valley to discover that there are more Europeans entrepreneurs than any other nationality. It’s great time that Europe seize the opportunity, the innovation train is leaving, and we shouldn’t be the losers of the digital boom.