EU & US for Growth, Investment Crowd-funding and Support

Invest in EUSpeech: EU & US for Growth, Investment Crowd-funding and Support
Neelie Kroes

Vice-President of the European Commission responsible for the Digital Agenda

EU & US for Growth, Investment Crowd-funding and Support

Beta Group event / Brussels

22 February 2013

This is a difficult time for Europe. As growth stays low, uncertainty is everywhere. Our people, particularly younger people, face horrific unemployment.

Lots of people in the EU are asking tough questions. Will those prospects get better? How can we make Europe more dynamic and prosperous? How can we stay in the race with fierce global competition? How can we offer a better future for everyone?

They are asking those questions profoundly and earnestly. But for me the answer is pretty easy; I don’t need to look much further than this room. We need to innovate our way out of the crisis. And for that, we need entrepreneurs: risk-takers, willing to break out on their own, try something new.

And you have a powerful tool to help you: digital technology, and the internet. A tool to help you plan, design and develop your ideas; make them real; then share them, spread them, sell them.

If you succeed, the rewards are rich. Not just for you: but for our whole continent. Start-ups create serious jobs, and the innovations you create can deliver a more energised economy, and a stronger society.

There’s three main ways we can support you. The three R’s.

First, rules. You need the legal and policy framework that lets you explore, experiment and profit from innovation. Whether it’s making copyright fit for the digital age – or providing easy ways to pay online – the framework of laws and practices matters. And particularly if those rules can give you European economies of scale, so you can easily spread your business idea to 500 million people.

Second, you need resources. The EU has significant research and innovation funding available – and I think that should be even more accessible to smaller businesses, even more focused on innovation, even better at getting products to market.

But the funding will often be private: things like venture capital and crowd-funding. I know those are very important, but sometimes they don’t work as well here in Europe as in the US. And I think there’s a lot we could do to change that. An EU-wide approach to venture capital could ensure more critical mass, and a better chance of success. And we can make crowd-funding more visible, and more accessible: so people are more aware of not just the funding itself, but also the vibrant start-up culture it supports.

And third, you need recognition. You need people to recognise and support the life of an entrepreneur—friends and family, professors and politicians. Because maybe they don’t understand what you do, or why it matters. They may think it’s not a proper job – or that the only valid career is one that’s totally secure and straightforward. Well, over in America, they have the American Dream, and they know that entrepreneurs are essential to their economy. So let’s have a European dream, too. The kind of culture that validates and nurtures the life of an innovator. Success united in diversity.

The fact is, from Skype to Spotify to Angry Birds, there are many European success stories. Sometimes we’re too shy to talk about them: let’s not be! Let’s promote European Entrepreneurs, celebrate them, and provide inspiration for the next generation.

Back in January, the Commission launched an action plan – showing our commitment to supporting entrepreneurs, including on the web. It followed a series of consultations to try to figure out where the EU could make a difference. I’ve already mentioned venture capital and crowd-funding: but there’s lots of other ideas in there too.

For example, I’d like to see a Web Entrepreneurs “Leaders Club” – featuring a few high profile role models. The guys who’ve made it, who can boost the profile of start-ups, and share tips and experiences.

I’d like to see a new partnership, “Start-up Europe”, linking up innovators established and new, companies large and small, mentors, accelerators and the media. So that whatever resources you need – whether it’s technology, expertise, services, logistics, or profile – you can find it more easily.

And I’d like to see a European network of accelerators. Helping all those different programmes to network and share their success stories.

Plus, we’ll continue to support awards that recognise the best start-up talent: like the “Europioneers Web Entrepreneurs” Award in Amsterdam in April; and the “Tech All Stars” competition in London in June.

And I want to take that further: in 2013 I’ll be going on tour, the “Start-up Europe” tour, around and across Europe. A tour to spread the message that Europe needs entrepreneurs – and needs a culture and environment to support them.

Of course, we can’t do the hard work. The ideas, inspirations, innovations won’t come from the European Commission – they come from you. But we can help make success a little easier to reach. What I am pledging to you today is that I can be your voice; the voice of web entrepreneurs in Brussels.

And all together this can make a difference. It’s the difference between a tech start-up actually happening, or staying an unrealised dream. It’s the difference between that start-up growing, or being killed off early by caution and red tape. The difference between the brightest talents keeping their base here in Europe, or jumping ship to the US.

I want those bright new ideas not just to start in Europe, but to stay in Europe. I want to help you do that. And I want to hear your ideas: what are we doing well, what could we do better, and how can we help you achieve your full potential?

Thank you.

22 February 2013

Source: invest in eu – Neelie Kroes

HEADLINE NEWS

ForbesThe Ultimate Pre-Launch Crowdfunding ChecklistForbesCrowdfunding is not limited to the platform where you launch your campaign. Instead, it has become a valuable way to transform your idea into a mainstream business. In order to head in that direction, you must execute a number [...]

The AustralianIgniteme heats up crowdfundingThe Australian“The only other comparable film that raised money through crowdfunding would be Crocodile Dundee, but not all funding came from the crowd.” Mr Morello said the idea behind the platform was relatively simple — giving new and bud [...]

DVS Gaming (registration) (blog)Crowdfunding: How Does it Help Indie Developers?DVS Gaming (registration) (blog)2012 is when crowdfunding really blew up, prior to 2012 the average amount of money devs would receive could range from 10k-100k. By today's standards, that's stil [...]

The MemoCrowdfunding has become a 'monster' argues its greatest criticThe MemoBrown has become a thorn in the side of this blossoming industry, even more so as it's clear his blog is now even read by regulators at the Financial Conduct Authority. The Memo sat down with [...]

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

LivemintFinding the right balance on crowdfundingLivemintSecurities market regulator Sebi (Securities and Exchange Board of India) has been trying to get a handle on digital platform-based crowdfunding since at least 2014, when it issued a cautiously positive consultation paper. It fl [...]

Crain's Cleveland Business'Smaller' gifts can go long way for Clinic's crowdfunding platformCrain's Cleveland BusinessFor an institution accustomed to securing multimillion-dollar donations, Cleveland Clinic's latest fundraising effort has some relatively [...]

Australian Brews NewsBrewery crowdfunding effective overall: PozibleAustralian Brews NewsEquity crowdfunding by breweries overseas has been effective overall, despite some high profile failures, according to Pozible. The largest reward-based crowdfunding platform in the Asia Pacific, [...]

FortuneUncensored Social Network Gab Raises $1 Million in Crowdfunding CampaignFortuneA crowdfunding campaign for Gab, a Twitter-like social network that touts its commitment to freedom of speech, surpassed $1 million yesterday. The company claims it is politically neutral and committ [...]

Crowdfund InsiderIsraeli Crowdfunding Platform ExitValley Self Crowdfunds, Plans UK ExpansionCrowdfund InsiderThe digital platform to book parking anywhere raised $2 million – a portion of that, $270,000, reportedly came from ExitValley. To date the self-crowdfunding offer has raised [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |