A coalition of European startups has called for action following the D9+ declaration urging the simplification of EU regulations. The S9+ Coalition highlights that excessive regulation is a barrier for startups, which are vital for economic growth in Europe. Despite producing significant economic value, European startups have struggled to scale compared to their US counterparts. The D9+ ministers emphasized a need for a digital rulebook that's deregulated and free of red tape, but the S9+ insists that tangible steps must follow the declaration to improve the entrepreneurial landscape.
"If this declaration is to matter, the next step is clear: D9+ countries must push their colleagues in the [European] Council to simplify, harmonise, and reduce the burden of EU digital regulation - and to make Europe more attractive for investment in innovation," said Peter Kofler, chairman of S9+ member Danish Entrepreneurs.
The S9+ argues that startups are the foundation of Europe's next tech champions... 0.01% of companies create 34% of all economic value - and they all start as startups.
Europe, however, has struggled to turn promising companies into big businesses... Not a single EU company started from scratch in the last 50 years has a market capitalisation over €100 billion.
In recent years, Europe has fallen further behind the US in productivity and suffered from a declining share of global tech revenue. The continent's leading startups now...
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