IPE Views: How to create Europe’s answer to Silicon Valley

first_imgThe interesting question is this: what does it take to be able to really emulate Silicon Valley as an innovation hub? Nils thinks there are five key factors that lie behind the global hubs, which include cities such as Beijing and Tokyo, both of which lie above any European city bar London.The first ingredient is that the hub has to be based in a large city. There needs to be a critical mass of people and exceptional talent available to make things happen.Second, there needs to be a culture that encourages creativity and risk taking. The Top 10 hubs worldwide all have that – as Moscow certainly has, which is, perhaps, to be expected, given recent political events.Third, Nils argues there needs to be some type of heavy government spending on research and infrastructure. This was certainly the case for Silicon Valley itself, where the US government supported such areas as IT, defence and space research. That is still continuing in new areas such as renewable energy. Support is critical, as venture capital cannot finance basic research but only comes in when applications are ready to be commercialised, so it is very important to have basic research support and a talent pool already there.Fourth, Nils sees the requirement for top-rated universities locally that can produce good ideas and act as a source of talent. It is not surprising Paris is doing so well given the huge concentration of top universities there.In the UK, the London-Cambridge corridor is well positioned to become Europe’s answer to Silicon Valley in the life sciences. Recent developments include AstraZeneca’s global HQ moving to Cambridge, and a £700m (€984m) investment in the Francis Crick Institute at Kings Cross. Overall, there are 37 world-class life sciences research institutes in the London-Stansted-Cambridge region and 1,400 life science businesses, accounting for 43,200 jobs and 19.6% of all UK employment in this sector, according to the London Stansted Cambridge Consortium. Last, Nils sees the need for a favourable political and regulatory tech environment, without hurdles preventing the creation of companies.Creating the right environment for venture capital investments in new, fast-growing companies may possibly be more useful for Europe’s long-term future than anything else politicians can do. This may be as true for the periphery as it is for the core European countries.Whilst Athens, for example, is never going to be in a position to compete with the likes of London, Berlin and Paris, developing the private sector in Greece through such initiatives as Corallia will ultimately be key to the long-term prosperity of the country and its position as an integral member of the EU.In the race to emulate Silicon Valley’s success, the UK is winning by a large margin. If venture capital does succeed in Europe, then I may move to Cambridge.Joseph Mariathasan is a contributing editor at IPE Creating the right environment for venture capital may be more useful for Europe’s long-term future than anything politicians could do, writes Joseph MariathasanIn Europe, since the collapse of the dotcom bubble, “venture capital” has almost become a dirty word. But the future is now looking more hopeful, and one reason for this may actually be that expectations are much lower than they were in the euphoric years of the dotcom boom. At one point back then, as Nils Rode at Adveq informed me, there were as many companies being created in Europe as in the US. Unfortunately, most of them failed to survive, leaving a very bad taste in the mouths of investors.Europe’s Top 10 centres of company creation are dominated by London, followed next by Paris and then by fast-rising Berlin. France has a very concentrated economy centred around Paris. In the UK, the equivalent would be the golden triangle of London, Oxford and Cambridge, and if the Oxbridge university towns were included, the UK dominance would become even more pronounced. Berlin, Rode tells me, has become something of a miracle in the way it has been transformed into an innovation hub, soon likely to overtake Paris. Beneath the Top 3 lies Moscow and then Barcelona, showing that the ideas behind innovation are spread across Europe. But it is not just the Top 10 that may make a difference to Europe. Greece has also set up an incubator, Corallia, for high-tech startups specialising in microelectronics, biotechnology, telecommunication networks and space, which has attracted interest from venture capitalists in Europe and the US.last_img read more

Barcelona receive Lautaro Martinez transfer ultimatum

first_imgBarcelona have been issued a strong message from Inter Milan as their pursuit of Lautaro Martinez hits a snag. The Catalan giants have made no secret of the fact they want to bring the forward to the Camp Nou this summer. Barcelona want Lautaro Martinez but may be forced to explore other transfer targets Lautaro has made a reputation for himself as one of Serie A’s most devastating forwards since arriving from Racing Club. Barcelona see him as the heir to Luis Suarez’s throne as the club’s star striker.Advertisement Loading… Martinez himself is thought to be keen on joining up with international team-mate Lionel Messi at Barcelona. However, last night, Inter sporting director Piero Ausilio made it clear that Martinez will only leave if his £97million release clause is activated. “As far as Martinez is concerned, there is only one way that he will leave Inter and that is by paying his clause,” Ausilio added. “A clause that everyone knows – there is no point in hiding – is demanding, because it has both deadlines and commitments that must be kept very precise.“It is a clause that expires in the early part of July so it won’t last for a long time.“And it is the only possibility that exists to take Lautaro away from Inter today.”Barcelona are said to be willing to offer a number of players as part of the deal.Those includes the likes of Nelson Semedo, Arturo Vidal and Ivan Rakitic.“Many clubs have contacted us to address the Lautaro theme,” Ausilio addded.“Among these, the most determined one, with whom we have a friendly and cordial relationship, is Barcelona. I don’t hide this.“And I know that Barcelona knows perfectly well what our intentions are. Inter have no intention of selling Lautaro Martinez. Then, I repeat there is a clause.”Should Barcelona be forced to lie down in the race for Martinez, it could spell danger for Liverpool.The Reds have reportedly pulled out of the race for Timo Werner this summer due to the current financial limitations imposed by the coronavirus crisis.Yet Barcelona have already held talks with Werner’s entourage and see him as a possible alternative.Barcelona could attentions to Liverpool transfer target Timo WernerRead Also: Messi expresses heartbreak over Copa America postponementGiven Suarez’s age and injury struggles, Barca feel as though they cannot afford to go another season without a striker.That could mean attentions turns to Werner, a player Inter are also tracking incase they lose Martinez.FacebookTwitterWhatsAppEmail分享 Promoted ContentThe Adorable Model For Simba In The Lion King Remake10 Risky Jobs Some Women Do7 Reasons Why You Might Want To Become A VegetarianThe 10 Best Secondary Education Systems In The WorldWho Is The Most Powerful Woman On Earth?A Hurricane Can Be As Powerful As 10 Atomic BombsThe Best Cars Of All TimeCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhat Is A Black Hole And Is It Dangerous For Us All?Birds Enjoy Living In A Gallery Space Created For Them8 Most Interesting Sylvester Stallone MoviesThe Very Last Bitcoin Will Be Mined Around 2140. Read Morelast_img read more