Challenge description

Roughly the same number of companies are born in the EU and other regions, including the US. However more start-ups do not automatically lead to more companies that grow. Yet, it is those start-ups who make the pivot to become bigger firms that create a disproportionate number of new jobs, increase innovation and competitiveness. Europe already has several Silicon Valleys – albeit less known and unconnected.

We need targeted measures to identify tomorrows’ business leaders, help them survive the initial years and see them grow and create jobs. We need a linked up European ecosystem which supports starting, scaling and efficient allocation of resources towards the most promising European companies.

Workshop results

We need to move available resources from the start-up to the scale up phase and to understand the start up ecosystem, especially by exploring how national eco-systems could connect. The Erasmus for entrepreneurs could be used not only to start-up but also to scale-up SMEs.

Next steps

The action was further re-framed after the event. We will plan a lab session centered on eliminating roadblocks for scale-up in a systematic way. Special attention will be given to areas where small companies can make significant contributions to addressing major societal challenges.