Europe’s Silicon Valley problem

Why doesn’t Europe have its own Silicon Valley? After all, the old world has plenty going for it: good universities, a large talent pool and lots of startups. Many important innovations – including Linux, the MP3 format and Skype – were invented in Europe. However, they have almost all invariably been commercialized on a larger scale in the United States. And when it comes to genuine giants of the digital world – the Googles, the Facebooks or the Amazons – there is simply no competition.

As European economies struggle to generate solid growth and employment, the digital economy has come to the forefront of policy discussions in Brussels and European capitals. So far, the most tangible outcome is the digital single market strategy, unveiled by the European Commission and the European Parliament in 2015. The strategy proposes 16 reform initiatives aimed at boosting the growth potential of Europe’s digital industries and creating an integrated, competitive digital market throughout the European Union.

 
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Europe’s Silicon Valley problem

Πηγή: American Enterprise Institute