The European Union’s top executives in Brussels are trying to rectify that with a long-term plan of reforms and incentives but face an uphill battle. The 28-nation bloc is, above all, lacking in the risk-taking culture and financial networks needed to grow Internet startups into globally dominant companies.
“In the U.S., especially in Silicon Valley, they are up for any crazy idea,” said Benoliel, 43. “Successful businesses often come from crazy ideas.”
Europe’s relatively cautious attitude to investment stands out as one of the biggest hurdles – and among the most difficult to change.
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