TechCrunch Startup News Scaling startups top priority, as EU reboots its top team
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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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EU's Startup Scaling Challenge
- Europe needs to improve at scaling startups, says Ursula von der Leyen.
- She highlights an 'innovation gap' and the need to reduce red tape.
Scaling Startups: Invest More, Focus Better
- Europe excels at creating startups but lags in scaling them, according to von der Leyen.
- Her strategy involves increased investment and a sharper focus on frontier technologies.
Europe's R&D Spending Gap
- Europe's business R&D spending (1.3% of GDP) trails behind China (1.9%) and the US (2.4%).
- This private capital gap hinders overall R&D and innovation.