The workshop in brief - PRO INNO Europe

In Europe business failure is viewed as an embarrassment. In Germany the director
of a failed company is struck off for 7 years, in Italy 7 years, in UK 3 years. In Japan a
high number of directors of failed businesses commit even suicide.
Differences between USA and Europe exist also with view of investor activities: Most
of US investment in early stage market is through Business Angels - only one per
1000 is backed by a VC. For example in UK angel investment in early stage
businesses is at nearly £1B compared to over £22B early stage VC funds.
Government support may help to reduce risk-taking, therefore UK government
provides direct support to angel investors to promote investment and recognise the
risk taking through tax incentives. Other European countries like France have
introduced tax incentives, too, some EU countries like Finland, Portugal or Spain now
seriously consider such schemes.
Activities like the EASY Project funded under EU Pro-Inno seek to address the
current risks identified for investors and entrepreneurs in cross-border investment by
promoting risk-taking in an area where many investors are “out of their comfort zone”
and by creating conditions for successful access of cross border investment by
innovating early stage SMEs. The project is a new cross-border meeting point for
early stage investors and innovating businesses seeking risk capital. It includes
supply side and demand side actions and provides a toolkit for investment readiness,
valuation and due diligence. Main element is the creation of an environment offering
confidence and trust in cross-border investment forums.
Paul Webber (Europe Unlimited) focused on Entrepreneurial Networking Events at
European level. Such events can be used as platform to promote entrepreneurship,
but also as platforms for entrepreneurs themselves.
Entrepreneurial networking events identify, award and honour world-class innovative
ventures ready to revolutionise their industry, to accelerate their growth by creating
access to top level international partners and to show to the wider audience that it is
rewarding to start up and grow innovative companies in Europe.
Pan-European regional pitching sessions where entrepreneurs compete to be
selected for events such as the 'European Venture Contest' have been well accepted
by entrepreneurs and investors. This contest follows a highly selective admissions
process carried out by a jury of professional investors who select the winners based
on clear performance criteria. The feedback from these professionals is invaluable in
their quest to secure to receive funding and to maximise the potential of their offering.
To summarise, Entrepreneurial Networking Events may be used to:
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