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Scaling startups top priority, as EU reboots its top team
Nov 29, 2024
The European Union is on a mission to help startups thrive. Ursula von der Leyen emphasizes the need to scale these businesses effectively. She discusses plans to reduce regulatory challenges and boost private investment. The goal is to close the innovation gap within Europe and support a vibrant startup ecosystem. This strategic focus aims to empower entrepreneurs and drive economic growth across the continent.
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Quick takeaways
- Ursula von der Leyen emphasizes the need for European startups to scale better amid global competition to enhance innovation.
- The European Union aims to reduce bureaucratic barriers for startups through new legislation to simplify regulatory processes and promote growth.
Deep dives
Strengthening Startup Competitiveness in Europe
The European Union's president, Ursula von der Leyen, emphasizes the need for Europe to improve its startup scalability in response to global competition. She acknowledges that while Europe matches the U.S. and China in patent applications, only one-third of these patents are commercially applied, indicating a significant gap in the scaling of successful startups. To address this, she has proposed creating a commissioner focused specifically on startups and highlighted the urgency for increased private investment to drive innovative business ideas. This initiative aims to enhance Europe's competitiveness by fostering the development of frontier technologies and scaling innovative enterprises across the EU member states.
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