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EU Startups should want (according to TechCrunch)

December 28, 2012

VaultPad

There is a post on TechCrunch that caught my eye.

Its a reasonable article Here are my comments (in caps next to each).

1. Inspiration THERE IS A LOT OF THIS

2. Great local capital (ACTUALLY THERE IS SOME). ITS JUST A LOT HARDER TO GET. ONE THING THAT THE USA COMMENTATORS (E.G.TECH CRUNCH) DON’T GET THAT THE EU BASED INVESTORS ARE MORE CONVENTIONAL AND VALUE ORIENTED. SO THE IRRATIONAL EXUBERANCE DOESN’T APPLY. THIS IS BOTH A GOOD THING AND A BAD THING. BUT IF YOU ARE GOING TO SPEAK TO EU BASED ANGELS PE OR VC – JUST REMEMBER THAT.

3. Events that don’t cost the earth to attend AMEN!

4. Universities that think about startups – THIS OBSESSION WITH IP HURTS EVERYONE. BUT DON’T THINK ITS JUST A EU BASED PHOENOM. JUST ASK MARVELL!

5. Local champions – AMEN – WE ARE DOING ALL WE CAN. PLEASE SUPPORT VAULTPAD AND TRAVEL MASSIVE ACROSS EUROPE.

6. Mainstream media that gets tech – A TOUGH ONE. EU MEDIA IS NOT US MEDIA. AGAIN GOOD AND BAD. LOOK TO INFLUENCE YOUR LOCAL MEDIA DIRECTLY. DONT UNDERESTIMATE THE POWER OF PR

7. Alumni that give back to their home towns – THERE ARE SO FEW THIS IS HARD.

8. Exits – ZOMBIE STARTUPS ABOUND. DEFINE NOT JUST AN EXIT BUT ALSO A SUCCESSFUL EVENT. THE VAULTPAD STARTUP ALUMS ARE JUST STARTING TO MAKE THEMSELVES KNOWN IN THE MARKET. OUR GOAL IS TO HAVE A HIGH “QUALITY” PERCENTAGE. OUR MODEL THEREFORE IS NOT ABOUT QUANTITY AS IN THE USA. WE HATE TO SEE GOOD PEOPLE FAIL.

9. Serial entrepreneurs who now invest – WE NEED MORE INFRASTRUCTURE SO GETTING COMMUNITIES TOGETHER ANGELS, GOVERNMENT, INSTIGATORS AND GROUPS LIKE VAULTPAD ARE CRITICAL TO THIS EFFORT.

11. Talent and Engineers that can move around – BE PREPARED TO SHARE TALENT. WHILE THERE IS A LOT OF TALENT MUCH OF IT IS MORE RISK AVERSE THAN IN THE USA. VAULTPAD BRINGS KEY EXPERIENCE AND WE ARE NOT AFRAID TO SHARE THE RESOURCES.

12. Clusters – YUP SEE 9 ABOVE

13. For us to use Europe’s diversity to our advantage –DIVERSITY COSTS MONEY BUT IT CAN WORK. AMERICANS FORGET THAT POLAND IS NOT THE SAME AS THE UK.

14. Customers and traction – THE CONCEPT OF CUSTOMER ACQUISITION IS STILL ALIEN TO MANY. ITS IMPORTANT TO RECOGNIZE THIS.

15. Investors who have to fight – INVESTORS ARE STILL VERY CONSERVATIVE BUT NOT ALL. AND IT IS NOT THE ONLY SOURCE. THERE IS A LOT OF EC AND LOCAL GOVERNMENT FUNDING AVAILABLE.

16. Bonus point: Sustainable business models SEE #2 ABOVE.

 

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