Festival d'Europa


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My presentation at the Festival d'Europa, in Firenze - Italy, on the "Startup Revoluion" which is an extreme necessity in Europe!

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Festival d'Europa

  1. 1. The State of the Union Festival d’Europa Firenze, Italia May 10 th 2011
  2. 2. Turning Europe Young Again: The “Startup Revolution” Dimitris Tsigos President YES – European Confederation of Young Entrepreneurs
  3. 3. Youth of Europe <ul><li>Unemployment </li></ul><ul><ul><li>It’s not the problem, it’s a symptom of the problem </li></ul></ul><ul><ul><li>The recovery of the global economy has been proven fragile </li></ul></ul><ul><li>The youth of Europe has to make a decision on their future </li></ul><ul><ul><li>Shall we change things? </li></ul></ul>
  4. 4. If Europe was a person <ul><li>Would probably be a very conservative person </li></ul><ul><li>Also, a rather old person </li></ul><ul><li>Old persons – usually – have lower dynamism, don’t like risk-taking, go the safe way </li></ul><ul><li>Do we really like this Old Europe? </li></ul>
  5. 5. Who is gonna create the necessary economic dynamism? The Youth of Europe!
  6. 6. How?
  7. 7. Very simple. By starting-up! Startups are creating new jobs! “ Employment Boost: 83% of U.S. Startups Plan To Hire in 2011” http ://mashable.com/2011/04/22/startup-outlook/
  8. 8. We all need to start-up! <ul><li>We need to inspire CREATIVITY </li></ul><ul><ul><li>In the educational system </li></ul></ul><ul><ul><li>In life-long learning </li></ul></ul><ul><ul><li>In the whole society </li></ul></ul><ul><li>It’s not fancy only to consume any more, it’s even fancier to produce! </li></ul>
  9. 9. Has the World realized the necessity to start-up?
  10. 14. What about the StartupEurope initiative? We all look forward to it! Let’s do it!
  11. 15. Are we really trying to start-up? <ul><li>VC Spending per capita </li></ul><ul><ul><li>US: $100 </li></ul></ul><ul><ul><li>EU: $10 </li></ul></ul><ul><ul><li>Euro-zone: $5 </li></ul></ul><ul><ul><li>Israel: $250 </li></ul></ul><ul><li>Israel alone invests more in VC than Germany, France & UK together </li></ul>
  12. 16. Can we really start-up in Europe? <ul><li>According to EBAN – European Business Angels Network, the volume of early-stage investments in 2009 has been … </li></ul><ul><ul><li>US: $18B </li></ul></ul><ul><ul><li>EU: 4B </li></ul></ul><ul><ul><ul><li>While EU27 GDP has been considerably higher than the US GDP </li></ul></ul></ul><ul><li>Entrepreneurship can turn ‘Old Europe’ young again! </li></ul>
  13. 17. Why to Start-up? “ The mission of a company is to maximize shareholders value” … as well as to get very high bonuses!
  14. 18. Sorry, not any more. This model (thank God!) collapsed together with Lehman Brothers Not sure that everybody has realized this fact.
  15. 19. So, what is it all about? <ul><li>Entrepreneurship was supposed to be just about making money </li></ul><ul><li>Now it’s about materializing creativity! </li></ul><ul><ul><li>It’s actually about happiness  </li></ul></ul><ul><li>It’s about building a new kind of relationship with labor, based on the joy of creating! </li></ul>
  16. 20. What’s the new key-word? Sustainability ! We need to push for the “ecosystem approach” in European start-ups
  17. 21. Entrepreneurship & Education <ul><li>There is a missing link in the European educational & research system </li></ul><ul><ul><li>R&D – Startups </li></ul></ul><ul><ul><li>Failure stories in the subsidized R&D projects </li></ul></ul><ul><li>We need to boost creativity in the educational system </li></ul><ul><ul><li>Result orientation </li></ul></ul><ul><ul><li>Culture of failure! </li></ul></ul>
  18. 22. If you’re afraid of failing… … then you simply don’t try!
  19. 23. Creating opportunities <ul><li>Short-term </li></ul><ul><ul><li>Access to capital </li></ul></ul><ul><ul><li>Special focus to increased availability of risk financing </li></ul></ul><ul><ul><ul><li>Beware of the death valley! </li></ul></ul></ul><ul><li>Mid-term </li></ul><ul><ul><li>Access to market </li></ul></ul><ul><ul><li>Materialize the “Single European Market” concept for enterprises </li></ul></ul><ul><li>Long-term </li></ul><ul><ul><li>Entrepreneurial culture </li></ul></ul><ul><ul><li>Promotion of new development models based on the regional competitive advantages & culture </li></ul></ul><ul><ul><ul><li>The end of Fordism </li></ul></ul></ul>
  20. 24. So, is there a crisis after all? Yes, but it’s not financial. The crisis is political. The solution can only be political!
  21. 25. What about Europe? No, the end of the world is not coming.
  22. 26. We must be optimistic! <ul><li>Europe is far more sustainable both from the US and from China </li></ul><ul><ul><li>No over-debt, no over-consumption </li></ul></ul><ul><ul><li>Reasonable conditions in the labor market </li></ul></ul><ul><li>Mid-term we need to address the issue of political integration </li></ul>
  23. 27. The time to get Europe truly united is coming!
  24. 28. Thank you 