Commission gives boost to start-ups in Europe

Today the College will adopt the Start-up and Scale-up Initiative, which aims to give Europe’s many innovative entrepreneurs every opportunity to become world leading companies. It pulls together all the possibilities that the EU already offers and adds a new focus on venture capital investment, insolvency law and taxation. There is no lack of innovative ideas and entrepreneurial spirit in Europe. But many new firms don’t make it beyond the critical first few years, or they try their luck in a third country instead of tapping into the EU’s potential 500 million customer base. The European Commission is determined to change that and help start-ups deliver their full innovation and job creation potential. The Initiative addresses the main obstacles to starting up and scaling up in Europe identified in a recent public consultation.