Without Silicon Valley’s startupculture, major companies like Google, Facebook, Twitter and Snapchat would likely never have existed, nor would they have changed the advertising industry and billions of lives in the process. Being disruptive provides space for innovation and new technologies today and in the future. This year’s VivaTechshowed how the future could look: artificial intelligence, virtual reality and the Internet of Things are hot topics within the startupecosystem. These trends will undoubtedly change our daily lives and provide new ways of advertising.
Compared to the US, the European startup scene is still underfunded and as a result, innovative startups need to move to Silicon Valley to get relevant funding. It’s up to our EU leaders to change this discrepancy and provide an entrepreneurial-friendly environment in Europe. As announced by President Macron at this year’s VivaTech, France will launch a technology visa which aims to attract international talent. Macron said: “I want France to be a startup nation. A nation that thinks and moves like a startup. Entrepreneur is the new France. I want France to attract new entrepreneurs, new researchers, and be the nation for innovation and startups.” Macron announced he would set up a new European venture fund with over €10 billion to support Europeans developing the startup scene here.
Corporations have long recognized the importance of startups and have supported them with their own accelerator programs. This year, companies such as AccorHotels, SANOFI, Orange, La Poste, and many more were represented with their own pitch panels and presentations. The way startups think can bring new ideas and innovations into an existing business. In turn, major companies have the chance to assist the startups with mentoring, knowledge, financial resources and infrastructure.
If France does indeed reach its goal of becoming a startup nation, it will truly be an exciting time for European businesses. The flourishing startup scenes in Berlin and London demonstrate that there is a future for startups in Europe, and if Macron’s plan works out, Paris could be next. France and the EU could soon be giving Silicon Valley a run for its money.
Author: Matthäus Michalik, Senior Consultant, Performics Germany