European start-up culture, entrepreneurship and Silcon Vall
Why Europe can’t produce Googles, Apples or Dells. Hervé Lebret, venture capitalist and manager of INNOGRANTS, a start-up fund provided to students by the EPFL (Ecole Polytechnique Fédérale de Lausanne) was angry with Europe. So he decided to let off steam and wrote “Start-Up: What we may still learn from Silicon Valley” in which he compares the Palo Alto success stories with the European efforts to “build” a Valley-like business environment and he explains why this has failed so far. In order to have a critical mass of Googles, Yahoos, Dells, Apples or Microsofts we need more entrepreneurial spirit, young people with crazy ideas and the guts to make it happen, he says in this video interview. So, can we really learn that, and how? More at: www.infonomia.tv
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I think it is also the socio-economic culture of Europe which makes it different from US silicon-valley model. The competition is less fierce in EU as compared to US. And also to some extent lack of venture capitalists who are willing to take in risks in investing. On the other hand there are some very elite research groups in European continent, which provides advantage of close collaboration and innovation, this should be exploited and I guess it is happening.
I’m from Germany, and here it is really hard to start off something from scratch. What I mainly found out as a big problem to a totally new idea/venture was the tight regulations and existing laws in many aspects. And as I see it, mainly put in place to protect existing big businesses from potential competition. Starting a business in Germany requires to having a lawyer on your side right from the beginning to protect you from the many pitfalls.