EC unveils accelerator to give tech start-ups helping hand

The European Commission has enlisted banks, telcos and universities for a new accelerator programme designed to help tech start-ups scale and take on the giants of Silicon Valley.

Frustrated by the inability of European technology companies to become true global players in the mould of Google and Facebook, the EC has established the Startup Europe Partnership.

The partnership will seek to build bridges between Europe's start-up, corporate and investment communities to help young firms raise funds, beat language barriers, and share best practice.

In addition to the accelerator, the EC has also unveiled plans for a new think tank, dubbed the European Digital Forum, designed to give the tech scene a stronger voice.

BBVA, European Investment Bank, Telefonica, Orange, Cambridge University, IE Business School, Humboldt University, the Lisbon Council, Nesta and Mind the Bridge Foundation have all joined the programme as founding partners.

EC vice president Neelie Kroes says: "Politicians don't create jobs, entrepreneurs do. We're going to support that mindset and push European start-ups beyond their comfort zone. And then we're going to get out of the way. Sometimes the best thing a political leader can do is get out of the way."

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Comments: (2)

A Finextra member 24 January, 2014, 09:57

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0 likes There are many factors that contribute to (global) success of startups that come from the Valley. Think about it: it's mostly the Valley - not the US - phenomenon... Overall entrepreneurial spirit with big ambitions being the norm, support ecosystem (including access leading-edge IT and microelectronics companies with global pedigree), enormous pool of HR with world-class skills, SINGLE uniform huge IT-savvy open-minded market, "help another startup" collaborative culture, VCs with well-oiled PR machine that can push the message through highly influential media with global reach, expensive properties in beautiful locations (figure out the logic yourself), relaxed positive attitude to failure, etc. The list of things EU won't be able to change can go on... To have a shot, that initiative should bring Ilja Laurs onboard. IMHO.

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A Finextra member 27 January, 2014, 14:15

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To add to the "differences" commented by Alexander... has anybody tried to track down and wade their way through the descriptions and paperwork required and associated with this European initiative?

Has anyone even managed to actually track down all of the details?

Unfortunately, most European initiatives seem to be weighed down by so much paperwork that it can become an excessive challenge to many start-up initiatives.