Case Studes in Entrepreneurship, Family Businesses, Social Entrepreneurship

Code :ENT0007

Year :2004

Industry : General Business

Region : Europe

Teaching Note:Not Available

Structured Assignment :Not Available

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Introduction: Since over twenty years, Europe had been lagging behind the US in terms of availability of venture capital and the growth in the number of new startups. A Eurobarometer survey conducted in 2002 showed that ‘Americanswere involved three timesmore in entrepreneurial ventures than Europeans’. European firms grew at a slower pace and, in the 1990s, only one in twenty SMEs could be qualified as a gazelle (swift-growth company) as against one in five in the US.

It is widely believed by the observers that though Europeans have developed several technological improvements and product inventions, they have often been commercialised elsewhere. For example, Fraunhofer Institute, a German research organisation, invented the technology behind MP3 music players, but companies like Sony Corp., turned it into commercial success. GuidoArnout, chairman ofCoWare Inc., a California-based technology firm said that European startups focused more on ‘developing technologies’, which must change to ‘developing solutions’

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