Comments on: 2008: VCs and startups get real across Europe http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/ Tracking European web and mobile start-ups Tue, 24 Nov 2009 17:49:23 +0100 hourly 1 By: TechCrunch UK » Blog Archive » European VC down, but getting more focused http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-109953 TechCrunch UK » Blog Archive » European VC down, but getting more focused Wed, 06 Feb 2008 09:01:45 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-109953 [...] European venture capital firms are backing the fewest companies on record, according to VentureBeat. They invested in just 897 companies last year, the lowest number since 1999. However, more money is going into fewer startups, reaching €4.56 billion, a two percent rise from 2006, and the fourth year of consecutive increase. Obviously this is all VC (so Cleantech etc etc), not just Web or mobile companies. The reason is put down to the lackluster market for mergers and IPOs in Europe and the difficulty of bringing a company to a stage where it returns profits and can then attract VC or be sold. The number of European venture-backed companies going public dropped to 38 from 89, while M&A deals fell 38 percent to 136, the lowest figure this decade. In addition hedge funds rarely invest in start-ups in Europe like they do in the US. However, US VCs and European VCs are piling into Eastern Europe where there are a lot of hard core tech firms being created. See my analysis of what’s going on there. [...] [...] European venture capital firms are backing the fewest companies on record, according to VentureBeat. They invested in just 897 companies last year, the lowest number since 1999. However, more money is going into fewer startups, reaching €4.56 billion, a two percent rise from 2006, and the fourth year of consecutive increase. Obviously this is all VC (so Cleantech etc etc), not just Web or mobile companies. The reason is put down to the lackluster market for mergers and IPOs in Europe and the difficulty of bringing a company to a stage where it returns profits and can then attract VC or be sold. The number of European venture-backed companies going public dropped to 38 from 89, while M&A deals fell 38 percent to 136, the lowest figure this decade. In addition hedge funds rarely invest in start-ups in Europe like they do in the US. However, US VCs and European VCs are piling into Eastern Europe where there are a lot of hard core tech firms being created. See my analysis of what’s going on there. [...]

]]> By: TechCrunch UK » Blog Archive » Our contact in Eastern Europe? http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-85486 TechCrunch UK » Blog Archive » Our contact in Eastern Europe? Fri, 21 Dec 2007 12:39:09 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-85486 [...] realise now that it was remiss of me, mentioning that European startups might want to put out feelers in Silicon Valley, not to also re-emphasise the other point I made in that long post about connecting with the [...] [...] realise now that it was remiss of me, mentioning that European startups might want to put out feelers in Silicon Valley, not to also re-emphasise the other point I made in that long post about connecting with the [...]

]]> By: Glen Hopkinson http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-85456 Glen Hopkinson Fri, 21 Dec 2007 11:52:37 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-85456 A key difference between Europe and the USA is that here (Europe) the VCs don’t generally have a strong technology background and are more comfortable with the numbers and contracts. As Warren Buffet emphasises, if you can’t understand something, you shouldn’t be investing in it. Organisations like Connect (see www.connectorkshire.org) seek to act as a conduit linking the two and trying to help each understand the others language. Breaking down the barriers, misunderstandings and polarised views that can be deal breakers is all part of a days work. A key difference between Europe and the USA is that here (Europe) the VCs don’t generally have a strong technology background and are more comfortable with the numbers and contracts. As Warren Buffet emphasises, if you can’t understand something, you shouldn’t be investing in it. Organisations like Connect (see http://www.connectorkshire.org) seek to act as a conduit linking the two and trying to help each understand the others language. Breaking down the barriers, misunderstandings and polarised views that can be deal breakers is all part of a days work.

]]> By: Michael http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-85157 Michael Thu, 20 Dec 2007 19:56:53 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-85157 Being in the states, I can't comment on what VC groups are like in Europe, but here, we've always heard their praises for being in the Sun Microsystems' Startup Essentials Program -- I guess they like the fact that we're scalable right off the bat! Dig it: www.sun.com/startup Being in the states, I can’t comment on what VC groups are like in Europe, but here, we’ve always heard their praises for being in the Sun Microsystems’ Startup Essentials Program — I guess they like the fact that we’re scalable right off the bat! Dig it: http://www.sun.com/startup

]]> By: Fred Destin http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84947 Fred Destin Thu, 20 Dec 2007 12:27:28 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84947 <strong>2007: random review of a random year...</strong> ... 2007: random review of a random year…

…

]]> By: Yoni Leitersdorf http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84919 Yoni Leitersdorf Thu, 20 Dec 2007 11:12:54 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84919 Excellent post Mike! You've done a great job summarizing the past years and presenting future trends. I'm an analyst with YL Ventures and have been taking an active role in the fund's deal-flow management and company-review process in Europe. After looking into hundreds of companies, meeting people in over a dozen conferences all over Europe (France, UK, Spain, Croatia, Italy, Ireland, and more) and thoroughly investigating the current and future trends in Europe - we've come to the conclusion Europe is on the path to success. Like you said, the entrepreneurs' scene in many of the European countries is still young (which results, amongst other things, in partially-digested ideas for startups), but we honestly believe that there are many people actively taking part in aiding Europe become a leading power in terms of high-tech startups. This especially makes sense when one reviews Europe's achievement in other intellectually-intensive fields. Individuals, Government Agencies (such as Ireland's "Enterprise Ireland") and even EU-wide organizations are all doing their best to foster the growth of startups in the various parts of Europe (western, central, eastern), by fertilizing the ground with funds, shorter bureaucracies, training and more. There's still much to be done, but I'm very optimistic here. Another issue within Europe is a segmented market. Different cultures, regulations and other hurdles make it more difficult to treat Europe as a whole and require giving attention to different countries separately. I also believe this will slowly become easier to do, as the different countries within the EU are working on bringing the different segments of the market closer. We, at YL Ventures, are tieing our future with that of Europe by focusing a large amount of our attention here - expecting great things. We are one of the first true tech VCs on the ground, and plan on staying here for a long time to come. I am positive 2008 will see more mature entrepreneurship in Europe and as a result, more companies with the real potential to be added to the list of European success stories (such as Skype). Have a great year! See you around Europe! Excellent post Mike! You’ve done a great job summarizing the past years and presenting future trends. I’m an analyst with YL Ventures and have been taking an active role in the fund’s deal-flow management and company-review process in Europe.

After looking into hundreds of companies, meeting people in over a dozen conferences all over Europe (France, UK, Spain, Croatia, Italy, Ireland, and more) and thoroughly investigating the current and future trends in Europe – we’ve come to the conclusion Europe is on the path to success.

Like you said, the entrepreneurs’ scene in many of the European countries is still young (which results, amongst other things, in partially-digested ideas for startups), but we honestly believe that there are many people actively taking part in aiding Europe become a leading power in terms of high-tech startups. This especially makes sense when one reviews Europe’s achievement in other intellectually-intensive fields.

Individuals, Government Agencies (such as Ireland’s “Enterprise Ireland”) and even EU-wide organizations are all doing their best to foster the growth of startups in the various parts of Europe (western, central, eastern), by fertilizing the ground with funds, shorter bureaucracies, training and more. There’s still much to be done, but I’m very optimistic here.

Another issue within Europe is a segmented market. Different cultures, regulations and other hurdles make it more difficult to treat Europe as a whole and require giving attention to different countries separately. I also believe this will slowly become easier to do, as the different countries within the EU are working on bringing the different segments of the market closer.

We, at YL Ventures, are tieing our future with that of Europe by focusing a large amount of our attention here – expecting great things. We are one of the first true tech VCs on the ground, and plan on staying here for a long time to come.

I am positive 2008 will see more mature entrepreneurship in Europe and as a result, more companies with the real potential to be added to the list of European success stories (such as Skype).

Have a great year! See you around Europe!

]]> By: alan p http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84835 alan p Thu, 20 Dec 2007 08:35:20 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84835 Good post, Mike - look forward to the one on Angels. I've made quite a few some comments over on broadstuff (bit long to post here): http://broadstuff.com/archives/618-VC-or-not-VC....starting-up-in-London-2008.html I do think though that in 2008, any startup with a silly name, esp double-vowels in their name and no "e" before the obligatory "r" at the end should be shot on sight ;) Good post, Mike – look forward to the one on Angels. I’ve made quite a few some comments over on broadstuff (bit long to post here):

http://broadstuff.com/archives/618-VC-or-not-VC….starting-up-in-London-2008.html

I do think though that in 2008, any startup with a silly name, esp double-vowels in their name and no “e” before the obligatory “r” at the end should be shot on sight ;)

]]> By: Paul Smith http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84518 Paul Smith Wed, 19 Dec 2007 17:54:01 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84518 It seems every 12 months someone in the UK writes this article. The ra-ra post telling UK entrepreneurs that it should be ok starting in Europe next year, even though everything tells them that it is easier to raise [larger] sums of money, for less equity in the valley. Why wait for the next generation of Angels? Fred is right 2008 will be very hard and I predict it will be a year of M&A. Many startups will run out of cash and the VC's won't support the same business. VC's will try and merge similar startups, if they are to further fund them. Nestoria, Zoomf, Popperazi, Dothome Qype, TrustedPlaces Reevoo, Crowdstorm I think the time the UK/Europe will come into its own is late 2008 when Google android hits the streets and the mobile web becomes a reality. It seems every 12 months someone in the UK writes this article. The ra-ra post telling UK entrepreneurs that it should be ok starting in Europe next year, even though everything tells them that it is easier to raise [larger] sums of money, for less equity in the valley. Why wait for the next generation of Angels?

Fred is right 2008 will be very hard and I predict it will be a year of M&A. Many startups will run out of cash and the VC’s won’t support the same business. VC’s will try and merge similar startups, if they are to further fund them.

Nestoria, Zoomf, Popperazi, Dothome
Qype, TrustedPlaces
Reevoo, Crowdstorm

I think the time the UK/Europe will come into its own is late 2008 when Google android hits the streets and the mobile web becomes a reality.

]]> By: Nicholas http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84459 Nicholas Wed, 19 Dec 2007 15:50:38 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84459 If you are talking about globalisation, then I think we are the pinnacle of the idea. Our start-up (www.twidox.com) is registered in the UK (because it is easy to setup), our offices are in Hamburg (media city of Germany) our developers are in Buenos Aires (great coders) and members of our 'Advisory Board' are in, inter alias, Singapore and Zurich. So, the only think we are missing is a connection to the Valley. If you are talking about globalisation, then I think we are the pinnacle of the idea. Our start-up (www.twidox.com) is registered in the UK (because it is easy to setup), our offices are in Hamburg (media city of Germany) our developers are in Buenos Aires (great coders) and members of our ‘Advisory Board’ are in, inter alias, Singapore and Zurich. So, the only think we are missing is a connection to the Valley.

]]> By: Nicole Simon http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84363 Nicole Simon Wed, 19 Dec 2007 12:01:51 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84363 I disagree with that the UK may be the most flexible to work with employers - of course you can have shorter contracts in other countries, you just need to do your homework. And I disagree with "everybody goes through London eventually". The US side, yes, because they consider the UK to be the entry point to Europe, when in fact it is the entry point to the UK, but that's about it. If an entrepreneur from continental goes international, they go to the valley directly. There is no need to make the pit stop at London except for going through LHR. The reason many continental companies don't think big but in local terms are simple: The local market is more than enough in most cases. But if you stay local you have to deal with local. [The clever way of course would be to take advantage of global and play local.] But in fact there is an increase of interest for the continental / pan european market which always is good. :)) I disagree with that the UK may be the most flexible to work with employers – of course you can have shorter contracts in other countries, you just need to do your homework.

And I disagree with “everybody goes through London eventually”. The US side, yes, because they consider the UK to be the entry point to Europe, when in fact it is the entry point to the UK, but that’s about it. If an entrepreneur from continental goes international, they go to the valley directly. There is no need to make the pit stop at London except for going through LHR.

The reason many continental companies don’t think big but in local terms are simple: The local market is more than enough in most cases. But if you stay local you have to deal with local. [The clever way of course would be to take advantage of global and play local.]

But in fact there is an increase of interest for the continental / pan european market which always is good. :) )

]]> By: Nic Brisbourne http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84355 Nic Brisbourne Wed, 19 Dec 2007 11:32:57 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84355 Hey Mike - good post. It's definitely getting easier and easier to build startups here so there is less and less excuse for people to go to the Valley! I think there will be more VC investment next year though, not less. VCs have raised funds and they will want to invest them. Hey Mike – good post. It’s definitely getting easier and easier to build startups here so there is less and less excuse for people to go to the Valley!

I think there will be more VC investment next year though, not less. VCs have raised funds and they will want to invest them.

]]> By: WebAppropriate | Keeping up with the VC’s (and angels) in 2008 http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84331 WebAppropriate | Keeping up with the VC’s (and angels) in 2008 Wed, 19 Dec 2007 10:50:04 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84331 [...] Butcher, of TechCrunch UK (it’s great to have it back!), has a great post covering not only the European/London VC scene for 2008, but the tricky topic (and one that has [...] [...] Butcher, of TechCrunch UK (it’s great to have it back!), has a great post covering not only the European/London VC scene for 2008, but the tricky topic (and one that has [...]

]]> By: Kwiqq Blog » Go Europe! Go Europe! http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84297 Kwiqq Blog » Go Europe! Go Europe! Wed, 19 Dec 2007 10:07:35 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84297 [...] I’ll quickly cover this. Mike at Techcrunch UK has an excellent post about European Startups and VCs. If you are planning to read it make sure you get a cup of tea [...] [...] I’ll quickly cover this. Mike at Techcrunch UK has an excellent post about European Startups and VCs. If you are planning to read it make sure you get a cup of tea [...]

]]> By: Jack http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84282 Jack Wed, 19 Dec 2007 09:54:28 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84282 Great article Mike, really thought provoking. Great article Mike, really thought provoking.

]]> By: TechCrunch UK » Blog Archive » Our man in Silicon Valley? http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84277 TechCrunch UK » Blog Archive » Our man in Silicon Valley? Wed, 19 Dec 2007 09:47:05 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84277 [...] TC40 « Previous episode [...] [...] TC40 « Previous episode [...]

]]> By: Ben Metcalfe http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84165 Ben Metcalfe Wed, 19 Dec 2007 06:18:06 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84165 As one of those Brits who has lept across the pond I have to agree London is still not the same fertile start-up ground that San Franciscio is. I'm honoured to be involved in Seesmic myself, and it's just a great text-book example. <blockquote>"But it is also smart thinking to put down feelers in Silicon Valley, that’s all I’m saying. I doubt anyone would disagree with that point."</blockquote> I couldn't agree more. And on that note, I'm really interested in reaching out to British start-ups that would like a 'feeler' in San Francisco/Silicon Valley. At this point I'm really keen to see if I can help the Brits get a leg up over here rather than thinking about business angles at the moment. So if you're interested please contact me via the contact page on my blog. As one of those Brits who has lept across the pond I have to agree London is still not the same fertile start-up ground that San Franciscio is. I’m honoured to be involved in Seesmic myself, and it’s just a great text-book example.

“But it is also smart thinking to put down feelers in Silicon Valley, that’s all I’m saying. I doubt anyone would disagree with that point.”

I couldn’t agree more. And on that note, I’m really interested in reaching out to British start-ups that would like a ‘feeler’ in San Francisco/Silicon Valley. At this point I’m really keen to see if I can help the Brits get a leg up over here rather than thinking about business angles at the moment. So if you’re interested please contact me via the contact page on my blog.

]]> By: Raj Anand http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84087 Raj Anand Tue, 18 Dec 2007 23:37:18 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84087 Excellent article Mike. Really looking forward to 2008. I think its the year of UK Startups ! Excellent article Mike. Really looking forward to 2008. I think its the year of UK Startups !

]]> By: Europe’s Internet Business Challenge | .:|randgaenge|:. http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84071 Europe’s Internet Business Challenge | .:|randgaenge|:. Tue, 18 Dec 2007 22:29:40 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84071 [...] Challenge December 18th, 2007 Please read the rest of that rant. It’s worth it! 2008: VCs and startups get real across Europe: […]”Chatting to some frustrated startups in Barcelona and Berlin recently, one still [...] [...] Challenge December 18th, 2007 Please read the rest of that rant. It’s worth it! 2008: VCs and startups get real across Europe: […]”Chatting to some frustrated startups in Barcelona and Berlin recently, one still [...]

]]> By: paulpod http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84052 paulpod Tue, 18 Dec 2007 21:33:59 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84052 Great post. It's really buzzing at the moment, I think you can feel it especially round parts of London. Thankfully, a few of the really weak ideas have been weeded out and there are some really strong ideas getting turned into solid sites during these 'dark months'. Should be an exciting 2008! Great post. It’s really buzzing at the moment, I think you can feel it especially round parts of London. Thankfully, a few of the really weak ideas have been weeded out and there are some really strong ideas getting turned into solid sites during these ‘dark months’. Should be an exciting 2008!

]]> By: Paul J http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84042 Paul J Tue, 18 Dec 2007 21:17:10 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84042 Quality article Mike, certainly food for thought. The European market is a hugely rich untapped vein of both customers and talent that's waiting to be exploited fully. It's true we're currently behind our US brethren in terms of the maturity of the market but I believe this represents opportunity in spades for us. Quality article Mike, certainly food for thought.

The European market is a hugely rich untapped vein of both customers and talent that’s waiting to be exploited fully. It’s true we’re currently behind our US brethren in terms of the maturity of the market but I believe this represents opportunity in spades for us.

]]> By: Sean http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84031 Sean Tue, 18 Dec 2007 20:31:05 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84031 Mike, I think this is an interesting post, partiularly because I'm an American entrepreneur moving to London for my new startup (seems backwards right?)... We're backed by First Round Capital, and I wouldn't be coming to London if I didn't think there was great opportunity there. I was at the second chance tuesday event ~2 weeks ago and got the sense there is a vibrant community. Anyways, would love to chat with you about it from the perspective of an American entrepreneur coming to the UK so shoot me an email. Sean Mike,
I think this is an interesting post, partiularly because I’m an American entrepreneur moving to London for my new startup (seems backwards right?)… We’re backed by First Round Capital, and I wouldn’t be coming to London if I didn’t think there was great opportunity there. I was at the second chance tuesday event ~2 weeks ago and got the sense there is a vibrant community. Anyways, would love to chat with you about it from the perspective of an American entrepreneur coming to the UK so shoot me an email.

Sean

]]> By: xenios http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-84017 xenios Tue, 18 Dec 2007 19:59:30 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-84017 A few god points in the article, to which i would add the following 1) I think aside of the VC's apetite, there is another equally, if not more important, driver that will come into play in 2008. Entrepreneurs in the UK are traditionally (and lets face it - the Brits loooove tradition) accustomed to funding their startup predominantly by re-mortaging their home. Little chances of that happening in 2008 !! 2) Agree on "thinking Europe" , opening up to a more integrated space, and i think there are increasingly more avenues one can pursue to make that reality (including our own startup peopleperhour.com ). However, i still think Europe is a bit of a way away from being one market even for the cyber space. Unlike the US, there are still many cultural, language and legislative barriers between the different parts of Europe that make the scale-up process tougher. And alas here lies the opportunity - for those who can pull it off. A few god points in the article, to which i would add the following

1) I think aside of the VC’s apetite, there is another equally, if not more important, driver that will come into play in 2008. Entrepreneurs in the UK are traditionally (and lets face it – the Brits loooove tradition) accustomed to funding their startup predominantly by re-mortaging their home. Little chances of that happening in 2008 !!

2) Agree on “thinking Europe” , opening up to a more integrated space, and i think there are increasingly more avenues one can pursue to make that reality (including our own startup peopleperhour.com ). However, i still think Europe is a bit of a way away from being one market even for the cyber space. Unlike the US, there are still many cultural, language and legislative barriers between the different parts of Europe that make the scale-up process tougher. And alas here lies the opportunity – for those who can pull it off.

]]> By: Simos http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-83988 Simos Tue, 18 Dec 2007 19:08:48 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-83988 Very interesting reading Mike - I agree on the point of staying in Europe to do your startup (and with Ryan and Saul's point of view) and being involved in a startup myself I can see the advantages of being based in the UK for example (if you are trying to penetrate the UK market of course); unfortunately I can also see that the startup culture in the UK is not there yet and live the flipside of not being based in the Valley on a daily basis.. I personally believe that while it's possible to create a successful web startup in the UK (and rest of Europe) while not having connections to the other side of the atlantic, it can save you a LOT of effort and make things easier if the right connections are there. Very interesting reading Mike – I agree on the point of staying in Europe to do your startup (and with Ryan and Saul’s point of view) and being involved in a startup myself I can see the advantages of being based in the UK for example (if you are trying to penetrate the UK market of course); unfortunately I can also see that the startup culture in the UK is not there yet and live the flipside of not being based in the Valley on a daily basis..

I personally believe that while it’s possible to create a successful web startup in the UK (and rest of Europe) while not having connections to the other side of the atlantic, it can save you a LOT of effort and make things easier if the right connections are there.

]]> By: Johnti http://eu.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/comment-page-1/#comment-83986 Johnti Tue, 18 Dec 2007 19:07:22 +0000 http://uk.techcrunch.com/2007/12/18/2008-vcs-and-startups-get-real-across-europe/#comment-83986 Nice article Mike, as usual well thought out and informative.. Nice article Mike, as usual well thought out and informative..

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