5 years, 2 months ago-
Hi everyone, how are you doing?
First of all, congrats to you all on maintaining the momentum.
So, since you started to talk about Brexit, let’s try to analyze this topic from a more entrepreneurial perspective than a purely political one.
What do you guys think will be the consequences on the EU startup ecosystem, considering that London is one of the big hot spots of the “European Valley” at the moment?
Let me know what do you think will happen, will startups remain? Will they choose a different European city to born and grow? What city would it be?
Remember, leave all the political comments out of the conversation, let’s go deep on your personal ideas about it.
Have a nice week,
Lucastill a question mark.
If a friendly agreement will not be found all the start up will go away. This because they will not lose the advantages and the facilitations and the contributes from the European commission.
All start up could go to Dublin, Vienna or Barcelona because today they are the most attractive cities for the new companies. I could say Berlin for reasons of appeal too.In Italy, in Autonomous Regions like the city of Trieste, Bolzano or Trento and italian’s Southern Regions.Naturally, it will depend on the offers that single countries will do.
What do you think about it?
Have a nice week,
Giorgio
Hi everyone!
About Brexit, since the beginning I’ve always tried to listen more to facts and less to people talking about it as if they perfectly knew its consequences: for the majority of those, Brexit would have been something in between an apocalypse and a disaster. As it turns out, many of Brexit’s detailed effects remain unclear even few months before the UK leaves the EU.
But something pretty certain is that Britain’s entrepreneurs won’t be able, or at least not as easily as before, to innovate, grow and expand as much as they did without barriers and most importantly with a single market of millions and millions consumers at their disposal, governed by the same regulation scheme. In fact, before the referendum, a poll of UK’s tech executives found that 70% wanted to stay, and only 15% said they wanted to leave, because of course they were concerned about the new policy and regulatory issues.
Many people and especially international companies would certainly prefer leaving the European Union with a “soft” Brexit, to minimise the disruption to trade, supply chains, and business in general, with Britain effectively staying in the single market and customs union, and so accepting the four freedoms of movement of goods, people, capital and services. And given the doomsday scenarios people were imagining in the June of 2016, I’d consider this solution the lesser evil. What are your thoughts about this?
Hi everyone,
In my opinion start up need to operate in a competitive system, so I think they have to move to other countries.
This topic is still a question mark, but in according with Giorgio’s thought I personally think that they could go to Dublin or Vienna.
Italy offers less solutions than other countries especially for the strict regulation in every field.
What do you think about that? Could regulation be a serious problem?
Let me know,
Matteo
Good evening!
This question makes me think a lot about the future not only of the United Kingdom but also of the whole European Union.First of all I tend to clarify that we could find ourselves in front of three different scenarios. The first, the case of no agreement reached between the British Government and the UE, would lead to a drop in the sterling exchange rate against all other trading partners and a decrease in growth that would lead the UK to recession.
Even if the deadline for reaching the agreement would certainly be prolonged, I don’t deny that the same consequences would be created for the UK.
The second case, could be defined as a soft Brexit, meaning that the UK continues to be part of the single market with less disruptive impact on trade.
Finally, the last case, named hard Brexit, this would imply that the UK isn’t part of the single market, which would mean that goods must be cleared before crossing the border, and this would weaken the GBP.
In an entrepreneurial prospective, UE would lose an important and big hot spots, but could find a new commercial power!
I don’t agree with @giorgiogalli when he says ‘italian’s Southern Regions’ because I don’t think they are developped as the Nothern! There is a lot of stuffs to do and this could be too expensive!
Maybe the solution is thinking about really developped country as Luxembourg, Ireland or Netherlands!
Let me know!!
SeleneHi everyone,
To be honest I don’t find Italy the best way to invest in new startup indeed it’s eleventh in the standings of innovation. It’s not so good.
But the best place to invest in Italy could be Milan surely, it’s a city with big potentiality but not developed as the other countries. Despite the efforts it isn’t albe to be competitive enough.
It would be a good idea for example head to Berlin or Paris because they generate an ecosystem that attracts ideas and investment all over the world. In this case help and support from the institutions is granted. Young entrepreneurs are financed in their projects. As a metter of fact they are placed at the second and third after United Kingdom. I agree that a new probable capital for all start up could be Dublin or even Stockholm.
Regarding London will be upset due to Brexit. If they thought to make a great decision for the UK, they got extremely wrong. It will become increasingly impossibile for startup of other countries avail of this financial source as well as complete the commercial exchanges and financial transactions. Due to customs restrictions, english startups will not be albe to exchange resources easily.
So how will it end?
Linda
Hello Guys!
I don’t agree that start-ups should be born abroad or invest outside of Italy. Yesterday’s meeting was illuminating for this topic. Innovation, in Italy, is lacking in many areas and this should make us understand that there are margins of profit and opportunities not to run away! As explained the start-ups are relevant to multinationals, the collaboration, the acquisition, the merger or the sale of their innovative product allows our large companies to stay on day 1 and not on day 2 of stasis! I know a fantastic Italian project that works on this, it’ called Smart & Start.
Have you already heard of it?
Good morning everyone,
Going deeply in what are my thoughts about the future of startuppers and start-ups after Brexit, I really don’t know where to look. I think it’s early to make statements about it, since UK still covers the first place in funds raising with 5.4 bn dollars raised in 2017 (also in the voting year).Of course in a “no deal” forecasted Brexit, London and UK will become less attractive for new European startups, who will probably choose another placement to bloom, according to the President of Mind the Bridge.
Referring to scaleups instead, he argues that they will not be affected by Brexit, since these are more complex and therefore it’s now “on cities” and not on countries anymore. Like Silicon Valley, a startupper doesn’t choose a Nation, he choose a pole, a city, to grow, since 7 UK scaleups on 10 are placed in London.
Even if the role of London is not changing a lot in the coming years, and even if the amount of funds raised last year represent the top of Europe, there’s a fastening in development of the “French London”. In fact, if the UK’s 5 and a half billion dollars are a primacy, France got a major number of few tens fundings referred to Great Britain.
So, even if the funds amount is not that high yet, it’s a positive signal for Europe. It is possible to assert, I believe, that this is a clear positive consequence brought by Brexit scenery, because as like as Paris every other European country could invest and laws-ease to attract startuppers and venture capital, as France did with a 10 billion euros investment plan in 4.0 Industry, Innovation and start-ups.
These facts known, if I should bet on a future “London Nemesis” I would therefore choose Paris, or maybe Berlin, or again a Scandinavian Capital. “The winner (will) takes it all”, therefore, is not applicable to the current situation, since I don’t think London will never be left behind. The position gained by Great Britain will guarantee to the City a leader role even after Brexit on my view.
The winner is the Country which will more invest on Innovation, which will more ease born and growth to startups, which goes further and faster than “competitors”.
What’s your opinion about these?
Stefano
Hi everyone! Hope everything is fine!
Luca, this is actually a good question. UK is the most startup friendly country in Europe: in five sectors – artificial intelligence, fintech, insurtech, industry 4.0 and digital construction – the data collected by the consulting firm and the innovation platform show how lot of startups are concentrated in UK (the most in London). Where, moreover, the largest share of capital was also collected.
With Brexit i think that these capacity to attract capital from Europe over London will decrease. And therefore these resources will be distributed to other European realities: i’m thinking about Spain, the second European reality for artificial intelligence (7.8%) and for capital raised in this sector (5.6%). Or Norway and Netherlands, able to attract 10.1% and 9% of investments in industry 4.0 but even France or Germany. Of course talking about these country i refer to the respective capitals.
Another example is Estonia which boasts more startups per person than any other place in Europe. The internal market is very small; this is why the country has developed a startup system that can help entrepreneurs reach the global market. The capital Tallinn is now home to a thriving reality of digital startups, which began in the early 2000s with the development of Skype. The ability to use English and digital skills are high, but the cost of living remains low and the spaces for co-working are expanding.
In conclusion, there are good cities to open a start-up in Europe, these cities must be good at exploiting this opportunity of Brexit to take advantage of it and attract new capitals.
Have a good day guys! See you 🙂
Luca
Hi guys! How are you? Sorry for the absence but I had some university’s stuff to do.
I agree with the beginning part of Selene’s post, in fact the possible scenarios of this situation are three, and I think that being part or not of the single market will have consequences, but It’s still hard to define exactly the situation. I also agree with Linda, if there’s a good ecosystem the support from the institutions is granted, and young entrepreneurs are financed in their projects.
Surely having a favorable regulation, which gives greater incentives to venture capitals investments could be a step forward, but I consider that also trading in a single European market with easier connections has its big advantages, both for European startuppers and companies in general. Maybe for the moment the number of start-ups in UK is still high, but as already mentioned, Paris is becoming a not insignificant city in which could born and grow a new startup. Also the French Government is joining the progress by offering license programs for French startups and funding initiatives for startups only, because there’s the willingness to make France a startup nation. Berlin and Stockholm are also excellent cities for starting a new project, this because there’s efficiency and a good business climate, thanks to a supportive Government and by a look to the future. All these mentioned cities are perfect for the nascent startups and international companies. There are a lot of young people, the quality of life is very good and education is excellent, so the system is attractive and creates a brilliant workforce (moreover it seems that even Denmark is one of the three happier countries in EU, together with Finland and Norway). It’s necessary a “fertile ground” to grow, and It’s created by a lot of factors in my opinion.
By the way it needs to distinguish, because a scale-up doesn’t need a headquarter, so it’s easier create its own international expansion and business, there’s a dematerialisation, and maybe for this type of business Brexit in its hard definition won’t be a big deal, and London probably will continue to be relevant for the world of tech and innovation (maybe not the first in long-term). Scale-ups are more focused on the city and the ideas, and they invest in something or someone they believe in. Anyhow the ecosystem makes always the difference, and Silicon Valley is the perfect example of it! A dynamic place with dynamic people will surely produce better results (and also for this I’m really really curious to see it personally, I wish to have the opportunity to learn and take inspiration from it).
Connecting to this I would like to add that I considered Max Brigonzi’s speech on Tuesday so instructive, he was full of energy, I learned some new things and I convinced myself even more about the importance for Italy to catch up. We have to believe in all of this, without too much brain drain. In our country we have a lot of potential in my opinion, but unfortunately there’s still too much fear to invest, in new ideas new projects new people and especially in young people! I mean, we don’t notice that University and education in particular have a big role on it, we students could have an importance for the evolution of our country, because we are more inclined to risk and venture capitals are at the base of startups. It needs to try if it worth it, and “if you never try you’ll never know”.
Finally, a very interesting thing I found is that ANGI (National Association Young Innovators) opened his first seat in Paris, in order to connect young Italian and French innovators, promoting intercultural exchange and investment, and also creating a possible dialogue with business, government and university institutions. But most important thing, this was possible thanks to the partnership with the french business incubator “Why Not Factory”. I think this is a great new opportunity for young people and for the innovation’s ecosystem in Italy and EU.
What do you think about it? (and sorry for the really long post ahaha)
Have a nice day!
Eunice
Hi guys!!!!
My name is Francesco, nice to meet you everybody
I’m attending 3th year of economy in Upo
I think this opportunity is so interesting because we’ll talk about digital development and social medias.
I read the post of last year wrote by
@StefaniaTibiletti.https://www.greenbiz.com/article/silicon-valleys-top-firms-are-embracing-diversity
About this post I agree for boot-camp because is so important for develop the tecnology skills and knowledge about digital.
Another part of discussion will focus on the problem of the black people and women if you can find a Job.
This barrier was break by Google and Facebook becouse this company now if you want to working with foreing people doesn’t matter when the people come but is important le capacita delle persone
Thank everybody for your attentionHi guys, sorry for the absence but I had a very stressful period.
With current laws, UK startups operate in a single European market with 500 million potential consumers in 28 different countries with a nearly identical system of rules. With Brexit there would be a regulatory chaos that would damage the commercial potential of UK companies in Europe. Furthermore, it is not to be underestimated the tariff theme that could be inserted in a second moment in case of negative escalation in the negotiations between UK and EU.
The abandonment of the EU would make very difficult for UK startups to hire talents from all over Europe.It is clear that people’s freedom of movement is one of the prerequisites for attracting the best resources and the best minds in a country. A restriction on the subject would undermine the quality of the assumptions.
What do you think?
Good afternoon guys! How are you?
Reading your comments I had many ideas, and reflecting about Brexit I think that startup, at first, could settle in UK, because considering the great investiment foreign and the large number of exports and imports that led to a great British growth, it would have been a good decision (thanks also to the depreciation of the pound). From the referendum (51,9% of the votes were in favor of Brexit), the GDP has fallen from 1,9% in 2016 to 1,8% in 2017 (source Ons – Office for National Statistics).
The exit of Britain from the EU can lead to have less investments: the British stock exchange of London is one of the most important in the world; many startup were going to UK because were very easy to receive foreign investments. Moreover, many investors use the stock exchange as an entrance door to European market ad now they could find this market less attractive, so their abandonment would bring less investment for startup.
Despite the immediate growth of Britain that had immediatly after the referendum, now the uncertainty is causing discomfort both in the economy and in the mood of people: 750K people in the square to ask a new referendum not on the exit of Britain, but to get the last word about the agreement between Uk and EU (what the government of Theresa May trying to do for some time).
I have a lot of friends in UK and neither do they know what their fate will be.
Sara
Hi guys,
Maybe @giovannilabate In the last interview Liam explained the possibility for hard close economic releta to bruxell is 60% but is not very good for English worker in Europe, because you’ll take a work licence.
The sterlin value down 16% from Euro value
About Pil the value fall for brexit of course but the another aspect I think suppose representing the Europe crisis.
Hammond declair the prevision of grow up is 1,5% against 2%, this effect representing Brexit and product crisis
Goodmorning!!!
In the event that an agreement isn’t reached in England, we would expect to see a sharp drop in the sterling exchange rate against all trading partners and a sharp decline in growth that could push the UK economy towards the recession, while inflation may increase due to higher import costs. The epicenter would be the UK, but there would also be negative economic repercussions for the EU and especially for the countries exposed through exports to the United Kingdom. There would also be some effect on global risk assets (stock under pressure) and a flight to safe ones (fall in global government bond yields).
Are you agree with me?
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