Why is Europe the finest place in the world to establish a new technology company?



. 5 min read


Start-up companies in Europe have made significant progress during the past ten to fifteen years. When many of the world's top internet businesses were founded in the 1990s and 2000s, such as Amazon, Google, and Facebook, Europe was not even a part of the global digital landscape at all. But now is the time for family offices to get involved, since European businesspeople are beginning to make their imprint on the global stage.

The following are some of the reasons why Europe is the ideal location for the establishment of technology startups:

1.Affordable Skill: To be successful, a start-up company has to have bright technological brains that are always pushing the boundaries of what is possible. Not only must the initial idea of the company's creator be realized, but the company itself must also consistently evolve and disrupt the industry. The CEE (Central and Eastern Europe) region is home to a sizable population that is relatively young and has a high level of education. In addition to this, the costs of labor are quite low. This indicates that start-up companies reap the benefits of low employee turnover, low payroll costs, and tremendous value for the wages that they pay. In addition, the local CEE talent pool frequently has experience working in hubs such as Paris, Berlin, or London, in addition to locally with multinational corporations such as ABB, Cisco, Luxoft, and Motorola - all of whom are key employers of IT specialists in Poland.

2. A Global Perspective: The domestic markets of the CEE countries are typically very small. These new businesses are conceived from the outset with the intention of satisfying the requirements imposed by the entirety of the European region. This provides them with a global focus, which can be a stumbling block for other start-up ecosystems around the world that are myopically focused on their own local markets.

3. Funding: The Central and Eastern European region is in a good position to become a thriving environment for start-up businesses since it is becoming more prosperous, its Western European neighbors are becoming more prosperous, and there is a culture of corporate investment. Despite this, seed stage investment is still far lower in Canada than it is in Western Europe or the United States. This creates potential for investors to become associated with Central and Eastern European start-ups at an early stage.

4. Unburdening Business: The governments of the countries that make up Central and Eastern Europe are working towards the goal of creating the optimal conditions for the expansion of new businesses. Estonia is the country that gave birth to Skype and TransferWise. It also has the largest free Wi-Fi network in the world, teaches coding in schools, and has an electronic residency programme to attract enterprises from other countries.

Innovation is encouraged in other Central and Eastern European countries through the use of accelerator programmes, incubators, co-working spaces, and angel investor funds. They are frequently places that, as a result of having low rates of corporation taxation, are appealing to people from other countries as well as international investment.

5. Mega Market: With 112 million people residing in the territory of Central and Eastern Europe, entrepreneurs in the early stages of their businesses have early access to a substantial market. This means that monetization will occur more quickly, and there will be more opportunities to make mistakes and learn from them.

In addition, the proximity of their location to Western Europe gives them a significant advantage in terms of market access. CEE start-ups gain a significant competitive advantage from their locations due to the young and technologically savvy populations in those regions.

The best country in the world for new businesses to launch is Germany.

Germany is consistently ranked among the top ten most inventive countries in the globe, and the nation places a significant priority on utilizing scientific advancements to advance economic growth. The nation has a strong track record of successfully turning research findings into applications that can be used in the real world. This practical focus has been a driver of employment development and a means of uniting German scientific research in a way that benefits society as a whole, and it can be seen in anything from software to medications.

The German government shows its deep dedication to applied research by providing financial support to research institutes, encouraging the launch of new businesses, and licensing intellectual property in order to make it possible for researchers to transition from the academic world to other fields of work.

Why Germany? An Influential and Thriving Economy

When it comes to choosing a site for your company, Germany is an excellent option because of the country's tremendous purchasing power, inventive mentality, position at the center of Europe's extensive transportation network, and highly qualified labor force.

You will also find it simpler to launch your own company because to Germany's well-developed infrastructure. You, your ideas, and your products will all be transported to their final destination over about 8,300,000 kilometers of roads, 38,000 kilometers of railways, and a cutting-edge network of communications technology.

An Excellent Repository for All of Your Thoughts

As the owner of a company in Germany, you have the right to anticipate a politically and economically stable environment in which to cultivate ideas that are legally protected.

Ideas, innovations, and even corporate logos and mascots are all protected forms of intellectual property in Germany. The Copyright Act, the Patent Law, and the Trademark Law are all laws that are designed to protect your name, which is likely your most important asset.

Economic policies also protect excellent ideas: Legislation pertaining to competition, for instance, forbids your competitors from making dishonest representations about your items in an effort to win people over.

An understanding of other cultures and an open mind

You are not only highly knowledgeable in your profession, but you are also well-versed in the customs and traditions of your own country. That is something that is unquestionably beneficial.

The country of Germany is one that welcomes immigrants. By the year 2020, there will have been nearly 1.2 million people who were born in a country other than Germany living there permanently. In most circumstances, immigrants have specific needs and desires, which you may be more familiar with than other Germans because you are more likely to have interacted with immigrants.

Aid from Qualified Individuals in Addition to Financial Support

After you have thought of a concept for a company, you may use that concept as the basis for your very own business. There are a great number of information centers that provide extensive assistance on how to start a business, the most effective approach, and how to get money.

Free assistance in starting a business is available in every one of Germany's federal states via officially sanctioned information centers. There are also additional new business ventures from which to choose. These will help you locate relevant networks as well as enquire about funding and other issues that may be of interest to you. There is also the possibility that funding will be granted by various government assistance programmes.

Convincing evidence suggests that throughout the course of the next ten years, the titans of technology will not be present on platforms such as Google and Facebook. They are going to be based on cutting-edge technology, the likes of which Europe has a good chance of developing.

There are a number of semi-governmental financial organizations in Europe, such as Bpi France, KFW, and the British Business Bank, which have, historically speaking, offered various forms of aid to businesses that are involved in the technology sector. Because of this, it was exceptionally simple for European nations to respond quickly to the coronavirus epidemic. As a result, European governments pooled their resources and donated approximately 9 billion euros to assist, strengthen, and promote creative firms.

The United States of America and China cannot be compared to Europe. Even if this may not appear to be a significant accomplishment on its own, the fact that it is taking place at a time when tensions are growing between the two countries may prove to be a structural advantage.

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