BrusselsBrussels claims that the EU is a good breeding ground for startups. The problem, however, is that to take the final leap and become a major technology company, they choose to go to the United States and China. That’s why, fed up with this flight of promising companies, the European Commission presented this Wednesday a multi-billion euro plan to prevent them from start-ups end up leaving the European Union and moving to the US or Chinese powerhouses.
However, the executive led by Ursula von der Leyen not only wants to avoid the loss of promising startups, but also aims to attract foreign companies in the sector that intend to continue growing, as well as talent and skilled jobs with added value. “Businesses that are born in Europe must grow in Europe, and we also want it to be the center of companies and investors,” said the European Commissioner for Industrial Strategy, Stéphane Séjourné.
To this end, sources from the European Commission assure that they intend to mobilize “tens of billions” in public and private funds, although they have not clarified exactly how much money they want to reach. In any case, with this financing, the community executive will boost the growth of EU startups and will create a laboratory ofunicorns, which is the name given to the start-ups that reach a valuation of €1 billion or more. This initiative aims to connect the academic world with the private sector, develop new ideas and inventions, and capitalize on intellectual property.
On the other hand, the European Commission is also committed to reducing the bureaucratic obstacles faced by startups seeking to grow quickly and is committed to increasing the harmonization of regulations across EU member states, as well as the single market. This way, the audience reached by companies establishing themselves in the European club is larger—even larger than that of the United States, for example—and should not be divided by country.
On the other hand, Brussels aims to attract foreign talent in a context of protectionism under the Donald Trump administration with an initiative called blue carpetThat is, a fast track to entering and obtaining at least a residence permit in the European Union for those newly arrived. start-ups, work for them or try to make them grow in the community block.
