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<\/p>\nEurope must take bigger bets on young founders to build tomorrow\u2019s tech giants, industry leaders urged today.<\/p>\n
Speaking at TNW Conference<\/a>, investors and CEOs called for stronger support for entrepreneurial ambition \u2014 before Europe\u2019s best ideas and brightest minds head elsewhere.<\/p>\n Kieran Hill, General<\/a> Partner at 20VC \u2014 a venture capital firm founded by podcast host Harry Stebbings \u2014 urged the continent\u2019s institutions to expand their app<\/a>etite for risk. \u201cWe need to change how we sell ambition,\u201d he said.<\/p>\n Hill believes changing this mindset is key to producing Europe\u2019s next business leaders. He warned that today\u2019s talented founders often want to be in the US, where the business leaders who inspire them are based. It\u2019s also, he added, a country that truly celebrates entrepreneurial success.<\/p>\n \u201cWhen you get to a certain phase in Europe, you\u2019re naturally drawn to go to Silicon Valley or you\u2019re drawn to go to New York \u2014 because that\u2019s believed to be where the best opportunity lies,\u201d he said.<\/p>\n His words were echoed by Nicola Ebmeyer, co-founder and CEO of Gain.pro, a private market intelligence and deal sourcing platform. The Amsterdam-based business regularly<\/a> ranks<\/a>\u00a0among Europe\u2019s fastest-growing startups. At first, however, Ebmeyer\u2019s ambitions attracted cynicism at home.<\/p>\n She already had a stable career at McKinsey when she decided to found a startup. Her plan was often derided as dangerously risky.<\/p>\n \u201cI have never heard so many times in my life, \u2018Nicola, you are probably making the worst decision in your life\u2019,\u201d she said.<\/p>\n Ebmeyer believes her experience reflects a broader cultural problem in Europe. She relates it to a common expression: \u201cYou can\u2019t be what you can\u2019t see.\u201d The phrase is normally applied to underrepresented groups, but she argues it \u201cholds equally true for the entrepreneurial journey.\u201d<\/p>\n \u201cYou need people around you to show you what\u2019s possible; to lift the bar, to take you by the hand, to show you can also do [it],\u201d she said.<\/p>\n Hill has his own plan to create more of these leaders. In March, 20VC backed Project Europe, an early-stage fund for entrepreneurs under 25. More than 120 European founders \u2014 from companies including Klarna, Mistral AI, and Shopify \u2014 have joined forces to provide investment and mentorship for the project.<\/p>\n The goal is to keep ambitious, talented entrepreneurs on the continent \u2014 and give them the support they need to thrive.<\/p>\n Hill argues there\u2019s an urgent need for such backing. He notes that young founders in Europe have the same ambitions as their counterparts in the US, but nowhere near the same level of financial support. \u201cThe infrastructure here is just so unwilling to take risks on young people,\u201d he said.<\/p>\n He wants other investors to follow Project Europe\u2019s lead. He criticised the continent\u2019s current crop of VCs for focusing too much on business models and too little on founder motivation. \u201cThat\u2019s a symptom of Europe,\u201d he said. \u201cIt\u2019s not how I operate, but it\u2019s how I see 95% of VCs. And the risk appetite is just so f*cking minimal.\u201d<\/p>\n Amid these criticisms, Hill also highlighted the positive momentum. He noted that several of today\u2019s fastest-growing startups \u2014 including Mistral, Synthesia, and Loveable \u2014 are now based in Europe.<\/p>\n To build more of them, he and Ebmeyer agree, the continent must embrace greater risk \u2014 and bet bigger on its young founders.<\/p>\n<\/p><\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n