Catalyzing Europe's Technology Innovation Ecosystem
Over the past three weeks, I’ve been visiting with technology entrepreneurs in London, Paris, Madrid, and Geneva. These conversations have confirmed my belief that the technology development on the right side of the Atlantic is absolutely world class.
In fact, despite the constant refrain that Europe is “behind the U.S.,” I find that European-developed technology is quite contemporary with – and often exceeds – U.S. innovation. In certain markets – such as mobile content and services – the U.S. lags considerably behind much of the world.
Still, there is this perception among American investors and customers – and even among Europeans -- that Europe is lagging.
The perception is fueled in large measure by the lack of strong, recognizable global technology players to come out of Europe in the last 20 years. Today, when you list the great European technology brands, you can count them on the fingers of one hand: ARM from the UK. Business Objects and Gemplus in France. Nokia and Ericsson in Scandinavia. SAP in Germany. And this despite some €73 billion being spent on technology R&D throughout the European Union
So why -- with innovative engineering, significant public investment, world-class universities, a growing venture capital industry – has Europe not produce more great global companies?
The answers are not easy – and they do vary among Europe’s geographical and technical markets. But one thread is consistent: European countries, individually and collectively, do not have a cohesive ecosystem to support entrepreneurship and to move great, innovative ideas from conception to product reality. The parts are in place, but they are not working together effectively.
European entrepreneurs, for example, are a growing but still rare breed. Culturally, Europeans are risk adverse in their careers. Why take a chance on a startup venture when a public service job will pay you, if not exceptionally well, at least for the rest of your life? Besides, new ventures tend to spin out of large, established companies controlled by wealthy families or state interests. How can a small startup compete with that?
Contrast this cultural mindset with the United States, a country built on risk taking by the earliest settlers, explorers and prospectors. And whereas a failed venture in the U.S. is an opportunity to learn from mistakes, failure in a European venture is an indelible blemish on the record of the entrepreneur. So while hundreds of initiatives from the European Commission through local government outreach outline marked increases in technology growth, the initiatives themselves are thwarted by a cultural proclivity toward safer research positions inside large companies and public and private universities.
The entrepreneurial mindset is changing, albeit slowly, fueled in part by an emerging venture capital industry. Yet it is a mistake to closely associate European venture capital with U.S. venture capital. As an asset class, technology venture capital is some 10 to 20 years the junior to its counterpart in the United States. And because European venture investments have relatively fewer and smaller exit strategies to exercise, European venture is considerably more conservative and more selective than U.S. venture funds.
In the United States, early-stage companies are also supported by a network of service organizations. Lawyers, accountants, market strategists, communications specialists, strategic consultants, and a raft of others have deep experience in the specific needs of
early-stage companies. Many of these firms work with startups in exchange for ownership share, dealing in the one currency most startups have in abundance – equity. In Europe, these service businesses have neither the depth of experience nor the flexibility to work with startups on an equity basis.
The fourth leg of the ecosystem is the early adopters of technology itself. In Europe, large customers tend to be conservative in their adoption of technology. They are hesitant to do business with all but the most established of companies. As the CEO of a French software company told me last week, “My customers are more likely to examine my P&L before they will look at my technology solution.”
U.S. companies, on the other hand, have adopted the practice of embracing technology as a competitive lever. And while they can be cautious about working with young companies, they will weigh the competitive reward against the risk an early-stage company may pose.
Without a robust ecosystem to support technology innovation, European innovation is a lot of great ideas – but not a lot of great products or great companies. Worse, Europe risks becoming a second world technology market after North America and China, as early stage ventures pass over Europe to do business with the larger markets to the East and West.
The good news, however, is that things are changing in Europe, and changing quickly! Where just a few years ago, I was told that an event such as Innovate!Europe could not happen because the market is too fractured, today, I am told that it has to happen because the market is so fractured.
Indeed, that is Guidewire Group’s goal with Innovate!Europe – to bring together the pieces of the European technology innovation ecosystem and to act as a catalyst to encourage a unified and productive European marketplace. Innovate!Europe is a dialog among the actors who together can build a pan-European infrastructure to accelerate European innovation and product commercialization, and to build the next great European – even global – technology companies.
The ambitious goal of Innovate!Europe is – in a few years’ time – to require more than one hand to count Europe’s great global technology companies. In ten years or less, we ought to be able to name a dozen or more global technology brands grown from European soil.
This is not a simple task, and it cannot be achieved by simple conversations. Europe must address challenging questions and build an agenda to move forward together to create a great European Technology Innovation Ecosystem.
Posted by Guidewire Group at April 25, 2005 11:08 PM
Trackback Pings
TrackBack URL for this entry:
http://www.guidewiregroup.com/mt/mt-tb.cgi/43
Listed below are links to weblogs that reference Catalyzing Europe's Technology Innovation Ecosystem:
» maturepost.com from maturepost.com
maturepost.com [Read More]
Tracked on April 28, 2007 06:06 AM
» asian legends from asian legends
asian legends [Read More]
Tracked on May 10, 2007 10:04 AM
» old man teen from old man teen
old man teen [Read More]
Tracked on May 11, 2007 03:52 PM
» free hairy pussy thumbnail galleries from free hairy pussy thumbnail galleries
free hairy pussy thumbnail galleries [Read More]
Tracked on April 11, 2008 10:20 AM
» quick ways for teens to make money from ideas for teens to make money
make money with google how much money does an auto body technician make how much money does an archaeologist make [Read More]
Tracked on November 18, 2009 04:41 PM
» chat video es from videos chat
aim video chats video chats google video chats [Read More]
Tracked on November 19, 2009 10:40 AM
» domestic discount cigarettes from cheap online cigarettes
cheap cigarettes online merit discount marlboro cigarettes electronic cigarette reviews [Read More]
Tracked on November 19, 2009 02:39 PM
» free ringtones downloads for boost mobile from free real music ringtones
free music ringtones for boost mobile free ringtones for lg dare free downloadable polyphonic ringtones [Read More]
Tracked on December 1, 2009 01:06 AM
» creative ways to make extra money from make money online for free
how to make money flowers how kids make money how to make easy money [Read More]
Tracked on December 1, 2009 02:08 AM
» free mobile ringtones from mobile ringtone sites
indian mobile ringtones free mobile downloads ringtones via text message download free real ringtone for tmobile [Read More]
Tracked on December 4, 2009 12:48 PM
» 24/7 Kid's City Snowboard from 24/7 Kid's City Snowboard
For snowboarders that demand it all, the 24/7 Kid's City Snowboard Snowboard delivers the ultimate co-mixture of...$234az3 [Read More]
Tracked on December 16, 2009 10:40 PM
» make money online from make money online
Making money online by info products. [Read More]
Tracked on October 16, 2010 07:44 AM
» Self help for gambling. from Baccarat gambling system www.zumma.com.
Gambling hawaiian camp shirts. Baccarat gambling system www.zumma.com. [Read More]
Tracked on December 28, 2010 07:06 PM
» Gambling system www.zumma.com. from Football gambling.
Online gambling resource for online gambling. Texas gambling law. Gambling bestgirl info main page sections. Gambling. Baccarat gambling system www.zumma.com. [Read More]
Tracked on December 29, 2010 02:15 PM
» Start earning money now. from Start earning money now.
Start earning money now. [Read More]
Tracked on December 30, 2010 04:56 PM
» Buy xanax. from Buy xanax.
Buy xanax. Buy xanax without prescription. Buy xanax online without a prescription. Xanax. Xanax 2mg no prescription. [Read More]
Tracked on December 30, 2010 11:50 PM
» Gambling. from Best online casino gambling.
Online gambling offers. Best online casino gambling. Gambling http. Gambling online guide. [Read More]
Tracked on January 1, 2011 05:39 PM
» Gambling. from Online gambling getting started.
Gambling bonuses. History of gambling among blacks. [Read More]
Tracked on January 2, 2011 03:49 PM
» Sex. from Sex.
Sex. [Read More]
Tracked on January 4, 2011 03:18 PM
» Autos. from Autos.
Autos seminuevos mexico. Autos for sale. [Read More]
Tracked on January 5, 2011 03:07 PM
» Adult. from Adult.
Adult. [Read More]
Tracked on January 5, 2011 10:48 PM
» Adult dating. from Adult dating.
Adult dating. [Read More]
Tracked on January 6, 2011 02:51 PM
» Furnuture store. from Furnuture store.
Furnuture store. [Read More]
Tracked on January 6, 2011 10:46 PM
» Free online dating. from Free online dating.
Dating free online. Free online dating. [Read More]
Tracked on January 7, 2011 10:13 PM
» Gambling. from Gambling.
Gambling. [Read More]
Tracked on January 8, 2011 01:56 AM
» Furnuture stores az. from Atlanta furnuture stores.
Furnuture stores in ct. Furnuture stores az. Ashley furnuture store. [Read More]
Tracked on January 9, 2011 05:45 PM
» Furnuture store. from Furnuture store.
Furnuture store. [Read More]
Tracked on January 10, 2011 12:55 AM
» Cheap viagra. from Viagra.
Cheap viagra. Low cost viagra. Viagra. [Read More]
Tracked on January 13, 2011 11:12 PM
» Gambling. from Best online casino gambling.
Casino gambling http. [Read More]
Tracked on January 14, 2011 01:22 PM
» Free sex site. from Adult sex stories.
Free sex chat. Free sex video clip. Oral sex. Amateur sex. Anal sex. Online sex games. [Read More]
Tracked on January 14, 2011 11:23 PM
» Adult cartoons. from Adult fanfiction.
Adult movies. Adult flash. Adult halloween costumes. Free online adult games. Adult vacations. Adult content. Adult emoticons. [Read More]
Tracked on January 15, 2011 04:17 PM
» Buy viagra. from Buy viagra.
Buy viagra. [Read More]
Tracked on January 16, 2011 12:05 AM
» Gambling. from Gambling.
Gambling. [Read More]
Tracked on January 16, 2011 02:54 PM
» Viagra side effects. from Viagra.
Generic viagra. Viagra cheap. Viagra prescription. Cialis vs viagra. Viagra. [Read More]
Tracked on January 17, 2011 12:10 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 17, 2011 08:15 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 17, 2011 08:19 AM
» Sex. from Sex.
Sex. [Read More]
Tracked on January 17, 2011 04:17 PM
» Gambling terms. from Casino gambling http.
Best online casino gambling. [Read More]
Tracked on January 18, 2011 08:09 AM
» Order viagra. from Viagra free trial.
Generic viagra. Buy viagra. Cialis viagra. Viagra. [Read More]
Tracked on January 18, 2011 03:57 PM
» Viagra. from Buy viagra online.
Female viagra. Generic viagra india. Viagra mexico. Buy viagra. Viagra on line. Side effects of viagra. Viagra. [Read More]
Tracked on January 18, 2011 11:58 PM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 19, 2011 09:45 PM
» Free sex game. from Free sex video.
Free sex stories. [Read More]
Tracked on January 20, 2011 10:17 AM
» Cheap viagra. from Female viagra.
Free viagra. Viagra uk. Viagra. [Read More]
Tracked on January 20, 2011 09:13 PM
» Sex. from Sex.
Sex. [Read More]
Tracked on January 21, 2011 06:07 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 21, 2011 06:37 PM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 22, 2011 05:15 AM
» Viagra prices. from Buy cheap viagra.
Viagra for sale. Viagra. [Read More]
Tracked on January 23, 2011 10:54 PM
» Perfect russian women. from Perfect russian women.
Perfect russian women. [Read More]
Tracked on January 24, 2011 07:13 AM
» Buy viagra. from Buy viagra online.
Buy cheap viagra online uk. Buy viagra. Buy viagra cheap. Viagra cialis levitra buy viagra. [Read More]
Tracked on January 25, 2011 06:20 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 25, 2011 02:26 PM
» Perfect russian women. from Perfect russian women.
Perfect russian women. [Read More]
Tracked on January 26, 2011 05:20 PM
» Xanax. from Xanax.
Xanax. [Read More]
Tracked on January 27, 2011 01:30 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 27, 2011 05:14 PM
» Adult dating service. from Adult dating.
Adult sex dating. Adult dating. 100 free adult dating. Adult dating sites. [Read More]
Tracked on January 28, 2011 02:21 AM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 28, 2011 06:45 PM
» Vicodin by mail. from Prescribing vicodin by doctors.
Keyword byy vicodin. Suicide by vicodin. What happens 3 vicodin by mistake. Prescribing vicodin by doctors. Vicodin by mail. By mail vicodin addiction help. [Read More]
Tracked on January 29, 2011 12:19 AM
» Viagra. from Viagra.
Viagra uk. Female viagra. Generic viagra. Viagra online stores. Cheap viagra. Viagra blood pressure. [Read More]
Tracked on January 29, 2011 04:15 PM
» Viagra. from Viagra.
Viagra. [Read More]
Tracked on January 30, 2011 12:15 AM
» Vicodin erowid. from No prescription vicodin.
Effects of vicodin. [Read More]
Tracked on January 30, 2011 04:18 PM
» Dating. from Dating.
Dating. [Read More]
Tracked on January 31, 2011 01:15 AM
» Viagra. from Free viagra.
Viagra soft tabs. Generic viagra. Viagra side effects. Viagra sale. Buy viagra cheap. Buy viagra now. Viagra. [Read More]
Tracked on January 31, 2011 08:17 AM
» Viagra. from Viagra.
What does viagra do to females. [Read More]
Tracked on January 31, 2011 04:48 PM
» Dating. from Dating.
Dating. [Read More]
Tracked on February 1, 2011 01:37 AM
» missouri dwi from missouri dwi
missouri dwi [Read More]
Tracked on March 22, 2011 08:06 AM
» Mortgage St. Louis from Mortgage St. Louis
Mortgage St. Louis [Read More]
Tracked on April 1, 2011 08:36 PM
» taylor swift tickets from taylor swift tickets
taylor swift tickets [Read More]
Tracked on April 6, 2011 08:41 AM
» Massage St. Louis from Massage St. Louis
Massage St. Louis [Read More]
Tracked on April 7, 2011 05:51 PM
» Free Printable Coupons from Rewards Free Printable Coupons
Free grocery store coupons for local super markets. [Read More]
Tracked on April 19, 2011 09:21 AM
» Free Easy Credit Card Debt Relief from Free Credit Card Debt Relief
Free Easy Debt Relief provides professional Debt Settlement, Debt Management and Credit Counseling services designed to help you avoid bankruptcy while... [Read More]
Tracked on April 20, 2011 07:51 AM
» Solar Power San Diego from San Diego Solar Power Installations
San Diego's leading provider of solar panel installations. [Read More]
Tracked on April 21, 2011 07:05 AM
» Solar Power San Diego from San Diego Solar Installation
San Diego's premier solar panel installation specialists. [Read More]
Tracked on April 21, 2011 01:55 PM
» Fast Debt Relief from Fast
Receive a free credit consultation and eliminate your credit card debt today. We specialize in credit repair, improving your credit rating and cleaning up [Read More]
Tracked on April 23, 2011 05:54 AM
» Debt Consolidation Alternative Solutions from Tips for Those with Too Much Credit Card Debt
Tips [Read More]
Tracked on April 24, 2011 01:20 AM
» Tee Times Discounts - Save 80% on Golf Tee Times from Tee Times Discounts
Save up to 80% or more on Golfing Tee Times. [Read More]
Tracked on April 28, 2011 12:27 PM
» Xbox Slim 360 from Xbox Slim 360
Find Xbox Slim 360 Information, Specs and Prices. [Read More]
Tracked on April 29, 2011 12:26 PM
» Correction Vision LASIK from Correction Vision
Correction Vision - LASIK Eye evaluations and information. [Read More]
Tracked on April 29, 2011 05:13 PM
» Free Credit Score for Free from free credit score for free
Free Credit Score for Free [Read More]
Tracked on May 4, 2011 10:14 AM
» Firepits St Louis from Firepits St Louis
Your posting is informative and incredibly helpful. Many people will assert that everything in your site is useful. [Read More]
Tracked on July 16, 2011 06:45 AM
» Man what an interesting post. from Computer Repair St Louis
I saw this really great post today and I wanted to link to it. [Read More]
Tracked on August 1, 2011 11:45 AM
» Man what an interesting post. from IT Support St Louis
I saw this really great post today and I wanted to link to it. [Read More]
Tracked on August 1, 2011 12:28 PM
» Easy Forex Trading from Easy Forex Trading
Easy Forex Trading [Read More]
Tracked on August 4, 2011 05:58 PM
» Easy Anniversary Gifts from Easy Anniversary Gifts
Easy Anniversary Gifts [Read More]
Tracked on August 5, 2011 06:32 AM
» SEO Software from SEO Software
SEO Software [Read More]
Tracked on August 5, 2011 08:13 AM
» easy forex trading from easy forex trading
easy forex trading [Read More]
Tracked on August 6, 2011 10:05 AM
» Zoloft Birth Defects from Zoloft Causes Birth Defects
Zoloft has been linked to birth defects. [Read More]
Tracked on August 6, 2011 05:48 PM
» easy anniversary gifts from easy anniversary gifts
easy anniversary gifts [Read More]
Tracked on August 9, 2011 05:44 PM
» Facebook Profile Page Pictures and Avatars from Facebook Profile Page Pictures and Avatars
Facebook Profile Page Pictures and Avatars [Read More]
Tracked on August 18, 2011 08:56 AM
» Man what an interesting post. from Refinance St Louis
I saw this really great post today and I wanted to link to it. [Read More]
Tracked on September 2, 2011 02:19 PM
» Another Title from Kitchen Remodel St Louis
I saw this really great post today. [Read More]
Tracked on September 28, 2011 01:27 PM
» Excellent thread from Custom Home Builders St Louis
I saw this really great thread today and I wanted to link to it. Thanks again for taking the time to post. [Read More]
Tracked on October 10, 2011 06:32 PM
» Beauty Salons St. Louis from Beauty Salons St. Louis
Excellent thread, I saw this really great thread today and I wanted to link to it. Thanks again for taking the time to post. [Read More]
Tracked on November 21, 2011 08:41 PM