We had the chance to chat to Peter Jungen, the President of the SME Union and Chairman of Economic Policy council of EPP at the European Parliament. He shared with us his view on European innovation and entrepreneurship.
According to Peter, innovation should be a “bottom up” process driven by people and not a “top down” process driven by governments. It cannot be legislated for as such, though we in Europe should be aiming to help reduce bureaucracy for entrepreneurs and small businesses. In order to succeed in Europe, Peter states that a dynamic environment is needed where different aspects of the ecosystem are connected: academic with commerce, innovation and invention, research and application.
Watch the 3-min interview with Peter Jungen, with his insight on how we can facilitate entrepreneurship in Europe. Hear about how stronger bridges between academia and business are essential to change the current situation – where average venture capitalist investment/capita in Europe is only 7€ (10$), compared to 72€ (100$) in the US and 178€ (250$) in Israel.