It is now out the European Startup Monitor 2019/2020, research funded by the COSME Programme, aimed at improving the economic and regulatory framework for startups and scaleups. These firms are seen as future drivers of economic growth and job creation, and they act as pipelines for SMEs and High Growth Firms. The document provides insights to help policymakers design strategies that foster the development of these actors.
Startups are critical elements for the economic vitality of countries: among the findings of the report, it is interesting to discover that founding a startup is often a cooperative endeavor. Indeed 78% of startups have more than one founder, and a “right cofounding team” is indicated to be the most important factor for success by founders.
The study also highlights a gender gap, as the overwhelming majority (67%) of startups were founded by all-male teams, with just 8% of them founded by all-female teams. The report points out that founders often face problems and obstacles in establishing and grow a business, experience sluggishness of bureaucracy, deal with the slow pace of public sector and have difficulties in hiring tech talents from third countries. These problems should be addressed by policymakers as soon as possible, as Markus Rauning, managing director of Austrian Startups quotes: “We need to wake up and stop treating start-ups like zoo animals. This is a strong part of the future of Europe’s economy, and if we do not create better grounds for them, we will not be able to compete economically with America and Asia in 10 years.”
Here is the study.
The European Startup Network (ESN) is now collecting information to outline the European Startup Monitor 2021 research, if you are a start-up founder, please click here to fill the survey and help your country be adequately represented in the report.
Source: The International Network for SMEs - INSME
