The Mission: Start-up Europe
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What is the challenge?
- Innovation and cutting-edge business practices will become vital if Europe is to stay competitive with the US and East Asia, but the business world is concentrated in certain areas and limited to a “business” class rather than researchers.
- In addition, to date, EU start-ups have had to rely too heavily on US risk capital.
What is the solution?
The mission is set to “start-up” the EU economy by:
- Creating an extensive network of business and “spin-off” centres at universities to encourage the transformation of university research into commercial product and process innovations.
- Including practical business know-how in the education curriculum.
- Establishing a network of innovation hubs and business support structures in regions outside the usual business centres. These would help launch any type of start-up, including craft, industrial, agricultural or cultural businesses, as well as social, non-profit enterprises.
- Improving access to start-up finance through tax incentives and EU funding.
How would this mission benefit Europeans?
- Start-up Europe would equip anyone with an idea to become a potential business creator.
- It would provide the basis for the creation of new opportunities, especially in remote regions and rural areas where start-ups could create jobs, tax revenues and local wealth.