Innovation: A Good Idea Is Not Enough

Four leading experts from Policy-Makers, Industry, Financiers, Academia  and StartUp community will address how a digital revolution empowered youth innovation ecosystem that can boost Europe’s competitivity and sustainability can be created that allows new and innovative digital solutions to be developed and scale big to have a significant impact on the European economy.

Speakers:

Moderator:  Kumardev Chatterjee, Founder & President, EYIF

What will they discuss about?

Facing competitiveness (Public-Private Partnerships)

Europe excels in generating scientific knowledge, but lacks sensitively in transferring this knowledge into its own European manifactures. Moreover fragmentation implies a basic lack of collaboration, not only between the Member States, but also between public research and the private sector. Since the European industry is also facing competitiveness problems, the innovation chain needs to incorporate a greater added value in products to address market needs. To boost this process, Public-Private Partnerships (PPP) needs to be promoted in particular key areas of development.

Where are the capitals?

The first issue affecting a startup ecosystem is the access to capitals. How many of a city’s leading startups have been funded by public fundings?How easily they could get access to them? Every startup cycle could not even begin if young companies cannot dispose of cash. Policy-makers could intervene by  strengthening both the availability of private and public capitals. Public capital should  particularly concentrate on companies’ initial phases and not just to assist young companies from their formation until their market exposure.

New infrastructures for new startups

Startups space demands are concentrated on offices located centrally and that can be rented flexibly. Reliable and fast high speed Internet is also part of a city’s infrastructure that covers the needs of this emerging business realities. Cities needs to invest in the set up of equipped offices within their tech centers, allowing people to rent spaces also for daily small amount.

Facilitating networks of contact

The density of a city network could be quantified by the number of events exclusively dedicated to startups or of already consolidated hubs located close to startups. If it is true that any startup will need venture capitalists and  appropriate infrastructures, they also require other networks proximity in order to grow. Networks ensure access to more other capitals, infrastructures and talents, starting from shared  public broker platforms connecting European entrepreneurs to civil servants and corporations in the United States, China, Russia, Japan or India.

Investing on reputation

Starting from the fact that a considerable reputation attracts both talents and capital, policy-makers should build a great reputation for a startup ecosystem when strengthening capital, infrastructure and talent availability as well as network density in a city. Since reputation follows commitment, public leaders should tackle the core issues of a vibrant startup ecosystem in order to positively effect  the city’s young companies.

Read about European Youth Event and other EYIF sessions here.