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YES European Confederation of Young Entrepreneurs
The European Startup Revolution
YES European Confederation of Young Entrepreneurs
Turning Europe Young Again: The “Startup Revolution”
Ignite AthensThursday September 20th 2012
Dimitris TsigosPresident
YES – European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
Youth of Europe
• Unemployment– It’s not the problem, it’s a symptom of the
problem– The recovery of the global economy has been
proven fragile
• The youth of Europe has to make a decision on their future– Shall we change things?
YES European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
Though in a completely irrelevant context, in a course proven already wrong & unfair by
history,
Secretary Rumsfeld got it right:
Europe is old.
YES European Confederation of Young Entrepreneurs
If Europe was a person
• Would probably be a very conservative person
• Also, a rather old person
• Old persons – usually – have lower dynamism, don’t like risk-taking, go the safe way
• Do we really like this Old Europe?
YES European Confederation of Young Entrepreneurs
Young European Entrepreneurs are turning Europe
YOUNG AGAIN!
YES European Confederation of Young Entrepreneurs
EU GDP >> USA GDP
We lack economic dynamism
Who is gonna create the necessary economic dynamism?
The Youth of Europe!
YES European Confederation of Young Entrepreneurs
How?
YES European Confederation of Young Entrepreneurs
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/
YES European Confederation of Young Entrepreneurs
We all need to start-up!
• We need to inspire CREATIVITY – In the educational system– In life-long learning– In the whole society
• It’s not fancy only to consume any more, it’s even fancier to produce!
YES European Confederation of Young Entrepreneurs
Has the World realized the necessity to start-up?
YES European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
YES European Confederation of Young Entrepreneurs
What about the StartupEurope initiative?
We all look forward to it!
Let’s do it!
YES European Confederation of Young Entrepreneurs
Are we really trying to start-up?
• VC Spending per capita– US: $100– EU: $10– Euro-zone: $5
– Israel: $250
• Israel alone invests more in VC than Germany, France & UK together
YES European Confederation of Young Entrepreneurs
Can we really start-up in Europe?
• According to EBAN – European Business Angels Network, the volume of early-stage investments in 2009 has been …– US: $18B– EU: 4B
• While EU27 GDP has been considerably higher than the US GDP
• Entrepreneurship can turn ‘Old Europe’ young again!
YES European Confederation of Young Entrepreneurs
Why to Start-up?
“The mission of a company is to maximize shareholders value”
…as well as to get very high bonuses!
YES European Confederation of Young Entrepreneurs
Sorry, not any more.
This model (thank God!) collapsed together with Lehman Brothers
Not sure that everybody has realized this fact.
YES European Confederation of Young Entrepreneurs
So, what is it all about?
• Entrepreneurship was supposed to be just about making money
• Now it’s about materializing creativity!– It’s actually about happiness
• It’s about building a new kind of relationship with labor, based on the joy of creating!
YES European Confederation of Young Entrepreneurs
What’s the new key-word?
Sustainability!
We need to push for the “ecosystem approach” in European start-ups
YES European Confederation of Young Entrepreneurs
Entrepreneurship & Education
• There is a missing link in the European educational & research system– R&D – Startups– Failure stories in the subsidized R&D projects
• We need to boost creativity in the educational system– Result orientation– Culture of failure!
YES European Confederation of Young Entrepreneurs
If you’re afraid of failing…
…then you simply don’t try!
YES European Confederation of Young Entrepreneurs
Creating opportunities
• Short-term– Access to capital– Special focus to increased availability of risk financing
• Beware of the death valley!
• Mid-term– Access to market– Materialize the “Single European Market” concept for
enterprises• Long-term
– Entrepreneurial culture– Promotion of new development models based on the
regional competitive advantages & culture• The end of Fordism
YES European Confederation of Young Entrepreneurs
So, is there a crisis after all?
Yes, but it’s not financial.
The crisis is political.
The solution can only be political!
YES European Confederation of Young Entrepreneurs
What about Europe?
No, the end of the world is not coming.
YES European Confederation of Young Entrepreneurs
We must be optimistic!
• Europe is far more sustainable both from the US and from China– No over-debt, no over-consumption– Reasonable conditions in the labor market
• Mid-term we need to address the issue of political integration
YES European Confederation of Young Entrepreneurs
The triangle of European success
• Symbolic Capital
• Human Capital
• Financial Capital
• Europe doubtlessly leads the World in all of those three axis.
YES European Confederation of Young Entrepreneurs
The time to get Europe truly united is coming!
A Federal Europe is not a dream for tomorrow, it’s a necessity of
today.
YES European Confederation of Young Entrepreneurs
Thank you