The European Commission has launched the EU Strategy for Startups and Scaling-ups. The roadmap starts from the reality that „too many companies still face difficulties in bringing their ideas from the lab to the market or scaling up across the EU,” as the European Commission itself admits.

„Since 2008, the year of the financial crisis, one-third of the EU’s so-called unicorns—new companies valued at over $1 billion—have relocated outside the Union, mainly to the US. Based on this, the Commission has identified the obstacles faced by new and expansion-hungry companies in the internal market. These are mainly access to finance, bureaucratic burdens, and access to markets and infrastructure.

The European Union has lost and continues to lose bright minds and promising businesses, especially in the field of new technologies. Let me give you an example: in the EU, these innovative start-ups have seven times less capital available for investment than in the US,” explains Mihai Tudose, Member of the European Parliament and member of the Group of Socialists and Democrats in the European Parliament.

„The strategy must be supported by European investment funds, with a substantial budget targeted at this type of company. The European Commission is now preparing a voluntary European Innovation Investment Pact for large institutional investors, as well as a European Fund for Scaleups.

This creates a context from which Romanian companies must benefit. If we want to be a force in the high-tech economy of the 21st century, we need to better link education to the labor market and make it a government policy priority to support and retain highly skilled specialists in the country,” said the president of the PSD National Council.

https://www.socialistsanddemocrats.eu