European nations possess significant human capital but are falling behind Asian and U.S. competitors in the race to develop new and game-changing technology companies.
Today’s leaders in the high-tech sector — Google, Apple, Facebook, etc. — and rising disruptors such as Uber and Airbnb all draw on a Silicon Valley ecosystem that supports research, innovation and commercialization.
Young European entrepreneurs flock to the Valley in hopes of adopting the Valley’s open, nimble style. But their homelands generally lag behind in creating a business climate that’s hospitable for startup companies.
Can Europe replicate the Silicon Valley formula? Should it? Doing so will mean addressing a number of factors — including, most fundamentally, cultural attitudes toward risk and failure.
The Wilson Quarterly has more.