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  • user 3:35 pm on December 7, 2016 Permalink | Reply
    Tags: , Boost, , , , , , ,   

    European Commission Gives Boost To Startups In Europe 

    The &;s Start-up and Scale-up Initiative aims to give &8217;s many innovative entrepreneurs every opportunity to become world leading companies. It pulls together all the possibilities that the EU already offers and adds a new focus on venture capital investment,insolvency law and taxation

    There is no lack of innovative ideas and entrepreneurial spirit in Europe. But many new firms don&8217;t make it beyond the critical first few years, or they try their luck in a third country instead of tapping intothe EU&8217;s potential 500 million customer base. The European Commission is determined to change that and help start-ups deliver their full innovation and job creation potential.

    Via Pixabay

    Via Pixabay

    Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: &;Today&8217;s local start-ups could become tomorrow&8217;s global success stories. We want to help start-ups stay and grow in Europe. By helping them navigate the – often perceived – regulatory barriers to fully benefiting from the Single Market. By making it easier for them to have a second chance, without being stigmatised if their idea doesn&8217;t succeed the first time around. And by improving access to funding by boosting private venture capital investment.&;

    Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: “Today start-ups do not fully take advantage of the opportunities of the Single Market. Starting and scaling up a company across Europe has to become simpler. Europe needs to become the first choice place for great business ideas to grow into successful companies. This is about new jobs, innovation and competitiveness for Europe.&8221;

    The Initiative brings together a range of existing and new actions to create a more coherent framework to allow start-ups to grow and do business across Europe, in particular:

     

    cosmeImproved access to finance: The Commission and the European Investment Bank Group are launching a Pan-European Venture Capital Fund of Funds. The EU will provide cornerstone investments of up to a maximum budget of €400 million and the fund manager(s) must raise at least three times as much from private sources, triggering a minimum of €1.6bn in venture capital funding. It will be managed by one or more professional and experienced fund managers ensuring a real market approach. This complements existing EU funding instruments such as the European Fund for Strategic Investments (EFSI), Europe&8217;s programme for small and medium-sized enterprises COSME and the EU&8217;s research and innovation funding programme Horizon 2020.

     

    cosme 2

     

    Second chance for entrepreneurs: The Commission has tabled a legislative proposal on insolvency law. It will allow companies in financial difficulties to restructure early on so as to prevent bankruptcy and avoid laying off staff. It will also make it easier for honest entrepreneurs to benefit from a second chance without being penalised for not succeeding in previous business ventures, as they will be fully discharged of their debt after a maximum period of 3 years.

    Simpler tax filings: The Commission is also working on a range of taxation simplifications including the recent proposal for a Common Consolidated Corporate Tax Base (CCCTB), which proposes to support small and innovative companies that want to expand their business across borders. Other initiatives include plans for a simplification of the EU VAT system and broadening the forthcoming guidance on best practice in Member States tax regimes for venture capital.

    The Initiative also puts emphasis on helping navigate regulatory requirements, improving innovation support through reforms to Horizon 2020, and fostering ecosystems where start-ups can connect with potential partners such as investors, business partners, universities and research centres. Changes to Horizon 2020 will pave the way towards a European Innovation Council and include using €1.6bn over 2018-2020 to provide bottom-up support for breakthrough innovation projects by start-ups with potential to grow. The Startup Europe network will be reinforced to connect clusters and ecosystems across Europe.

    In 2017, the European Commission will put forward proposals for a Single Digital Gateway that provides easy online access to Single Market information, procedures, assistance and advice for citizens and businesses. The Enterprise Europe Network (EEN) provide specific advisory services &; through scale-up advisors &8211; for including on funding opportunities, partnering and how to access cross-border public procurement. The Commission will adopt a set of measures to support the use of Intellectual Property Rights by SMEs and take action to support access by start-ups to the €2 trillion European public procurement market.

    Background:

    Over recent years, the European Commission has proposed a number of policies, such as the Capital Markets Union, the Single Market Strategy, and the Digital Single Market to benefit start-ups in Europe. Together with Member States&8217; actions, this has led to the creation of a number of market leaders, such as Spotify, Klarna, Adyen, , Jobandtalent, N26, Algolia, Intercom, Cabify or Deliveroo.

    The Initiative addresses three main obstacles to starting up and scaling up in Europe identified in a recent public consultation:

    &8211; Access to finance is the biggest problem for entrepreneurs whether starting up or scaling up;

    &8211; Complying with regulatory and administrative requirements diverts too much energy from growing the business &8211; particularly cross border;

    &8211; Connecting to right business partners, markets and skilled workers, despite the availability of 500 million people European Single Market is still too difficult.

    Featured Image: via Pixabay

    Original Press-Release here

    The post European Commission Gives Boost To Startups In Europe appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
  • user 3:35 pm on November 28, 2016 Permalink | Reply
    Tags: , Boost, , , , , , ,   

    European Commission Gives Boost To Startups In Europe 

    The &;s Start-up and Scale-up Initiative aims to give &8217;s many innovative entrepreneurs every opportunity to become world leading companies. It pulls together all the possibilities that the EU already offers and adds a new focus on venture capital investment,insolvency law and taxation

    There is no lack of innovative ideas and entrepreneurial spirit in Europe. But many new firms don&8217;t make it beyond the critical first few years, or they try their luck in a third country instead of tapping intothe EU&8217;s potential 500 million customer base. The European Commission is determined to change that and help start-ups deliver their full innovation and job creation potential.

    Via Pixabay

    Via Pixabay

    Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: &;Today&8217;s local start-ups could become tomorrow&8217;s global success stories. We want to help start-ups stay and grow in Europe. By helping them navigate the – often perceived – regulatory barriers to fully benefiting from the Single Market. By making it easier for them to have a second chance, without being stigmatised if their idea doesn&8217;t succeed the first time around. And by improving access to funding by boosting private venture capital investment.&;

    Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: “Today start-ups do not fully take advantage of the opportunities of the Single Market. Starting and scaling up a company across Europe has to become simpler. Europe needs to become the first choice place for great business ideas to grow into successful companies. This is about new jobs, innovation and competitiveness for Europe.&8221;

    The Initiative brings together a range of existing and new actions to create a more coherent framework to allow start-ups to grow and do business across Europe, in particular:

     

    cosmeImproved access to finance: The Commission and the European Investment Bank Group are launching a Pan-European Venture Capital Fund of Funds. The EU will provide cornerstone investments of up to a maximum budget of €400 million and the fund manager(s) must raise at least three times as much from private sources, triggering a minimum of €1.6bn in venture capital funding. It will be managed by one or more professional and experienced fund managers ensuring a real market approach. This complements existing EU funding instruments such as the European Fund for Strategic Investments (EFSI), Europe&8217;s programme for small and medium-sized enterprises COSME and the EU&8217;s research and innovation funding programme Horizon 2020.

     

    cosme 2

     

    Second chance for entrepreneurs: The Commission has tabled a legislative proposal on insolvency law. It will allow companies in financial difficulties to restructure early on so as to prevent bankruptcy and avoid laying off staff. It will also make it easier for honest entrepreneurs to benefit from a second chance without being penalised for not succeeding in previous business ventures, as they will be fully discharged of their debt after a maximum period of 3 years.

    Simpler tax filings: The Commission is also working on a range of taxation simplifications including the recent proposal for a Common Consolidated Corporate Tax Base (CCCTB), which proposes to support small and innovative companies that want to expand their business across borders. Other initiatives include plans for a simplification of the EU VAT system and broadening the forthcoming guidance on best practice in Member States tax regimes for venture capital.

    The Initiative also puts emphasis on helping navigate regulatory requirements, improving innovation support through reforms to Horizon 2020, and fostering ecosystems where start-ups can connect with potential partners such as investors, business partners, universities and research centres. Changes to Horizon 2020 will pave the way towards a European Innovation Council and include using €1.6bn over 2018-2020 to provide bottom-up support for breakthrough innovation projects by start-ups with potential to grow. The Startup Europe network will be reinforced to connect clusters and ecosystems across Europe.

    In 2017, the European Commission will put forward proposals for a Single Digital Gateway that provides easy online access to Single Market information, procedures, assistance and advice for citizens and businesses. The Enterprise Europe Network (EEN) provide specific advisory services &; through scale-up advisors &8211; for including on funding opportunities, partnering and how to access cross-border public procurement. The Commission will adopt a set of measures to support the use of Intellectual Property Rights by SMEs and take action to support access by start-ups to the €2 trillion European public procurement market.

    Background:

    Over recent years, the European Commission has proposed a number of policies, such as the Capital Markets Union, the Single Market Strategy, and the Digital Single Market to benefit start-ups in Europe. Together with Member States&8217; actions, this has led to the creation of a number of market leaders, such as Spotify, Klarna, Adyen, , Jobandtalent, N26, Algolia, Intercom, Cabify or Deliveroo.

    The Initiative addresses three main obstacles to starting up and scaling up in Europe identified in a recent public consultation:

    &8211; Access to finance is the biggest problem for entrepreneurs whether starting up or scaling up;

    &8211; Complying with regulatory and administrative requirements diverts too much energy from growing the business &8211; particularly cross border;

    &8211; Connecting to right business partners, markets and skilled workers, despite the availability of 500 million people European Single Market is still too difficult.

    Featured Image: via Pixabay

    Original Press-Release here

    The post European Commission Gives Boost To Startups In Europe appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
  • user 12:18 am on November 26, 2016 Permalink | Reply
    Tags: , , Boost, , , OnlineOnly,   

    Will Online-Only Black Friday Deals Provide a Boost for Apple Pay ? 

    Remember how joined the growing number of merchants refusing to offer last year? Well, the deals are back, but not in a way you’d expect. The company announced yesterday, on a special section on its website, that it will offer a one-day, online-only sales event this Friday.Read More
    Bank Innovation

     
  • user 6:40 pm on September 7, 2016 Permalink | Reply
    Tags: , Boost, , ,   

    BNP Paribas Opens Lab to Boost Productivity With Blockchain 

    BNP has unveiled a new Innovation Lab with a focus.
    CoinDesk

     
  • user 12:18 am on June 26, 2016 Permalink | Reply
    Tags: , , , Boost, , ,   

    Ally Adds Android Pay and Samsung Pay to Boost Mobile Payments 

    Bank belongs to the &;open-wallet camp,&; for now. The online bank introduced Pay and Pay integration for its debit cards, in addition to the existing Apple Pay option, Ally announced yesterday. The addition of these two payment services, according to CEO Diane Morais, expands the optionRead More
    Bank Innovation

     
  • user 3:07 pm on June 15, 2016 Permalink | Reply
    Tags: , , , Boost, , , , Trades   

    Allianz Tests Blockchain to Boost Catastrophe Bond Trades 

    Germany-based insurance giant has tested how -based smart contracts could be used to handle swaps and bonds.
    fintech techcrunch

     
  • user 3:35 pm on May 27, 2016 Permalink | Reply
    Tags: Boost, , , , ,   

    Recommendations to Boost Entrepreneurship in Switzerland 

    While might be one of the best locations in the world to set up a business, the country&;s own ecosystem has not yet reached its full potential, according to the Start-up Monitor foundation.

    In a new report, the Start-up Monitor foundation provides an in-depth analysis of entrepreneurial activities in Switzerland. Founded in 2012 by ETH Zurich, University and St.Gallen and University of Basel, the Start-up Monitor foundation is an organization aimed at monitoring and helping develop the startup ecosystem in Switzerland.

    The Swiss Entrepreneurship Ecosystem report 2015 2016The document, entitled &;The Swiss Entrepreneurship Ecosystem Report 2015/2016,&8217; addresses the strengths and weaknesses of Switzerland&8217;s entrepreneurial scene and suggests that although the country is one of the most competitive and innovative in the world, there are still many challenges to overcome in order to become an internationally recognized &;Start-up Nation.&;

    Switzerland is globally recognized for its stable, transparent and effective institutions, but also its healthy finances, attractive taxes, excellent infrastructure, exceptional capacity for innovation, and world-class education system, and yet, the country does not rank among the most entrepreneurial countries in the world, the report says.

    It notes that due to the lack of growth-stage funding, many startups leave Switzerland at this stage to countries with more favorable conditions. &8220;Switzerland needs to ensure funding opportunities not only for seed-stage, but also for the start-up and growth-stages of a venture,&8221; the report says.

    It advises for more entrepreneurship education programs on primary and secondary level, and notes that there is a strong need to strengthen a supportive entrepreneurial culture, notably among young people, in order for them to consider entrepreneurship as a desirable, feasible and viable career opportunity.

    The document also claims that there is a strong need to focus on ageing workforces, increasing entrepreneurship intentions to prolong working lives and reduce older-age unemployment.

    Moreover, the fact that Switzerland is a relatively small market can cause significant scalability challenges for new ventures.

    Swiss Innovation Park Dübendorf

    The report lists a number of initiatives that have been undertaken to foster the Swiss entrepreneurial spirit, among which the new innovation center set to launch later this year in Dubendorf. The Swiss Innovation Park is a project of the federal government, cantons, science and economy, which will be dedicated to industrial research.

    Another initiative is Digital Zurich 2025, which focuses on turning the greater Zurich area into a leading European center for digital innovation. It aims at being a platform where academics and experts in information and communication would meet and collaborate. Digital Zurich 2025 is also planning an annual congress and a Swiss Investor Summit where startups would have the opportunity to meet with international investors and business leaders.

    Balgrist Campus on the other hand, has recently established a research and development center for medicine located between the lake of Zurich and Balgrist University Hospital.

    Finally, the Swiss Investment Fund (SIF) initiative of the Swiss Private Equity and Corporate Finance Association aims at closing the financing gap and foster innovation entrepreneurship in the Swiss innovation ecosystem. SIF acts as a &8220;fund of funds,&8221; which means that it invests in a number of smaller funds, which in turn, can provide equity capital to a number of young Swiss tech companies.

    That said, Switzerland has got many advantages for businesses as well. In addition to its high innovation capability, Switzerland has a very supportive government, as well as regulations in favor of entrepreneurship.

    Additionally, its geographical location provides young companies with an easy access to the European market and stronger trade links.

     

    Swiss Entrepreneurship Report 2015 2016

     

    Featured image: Zurich pinned on a map of Europe by Dmitry Kaminsky, via Shutterstock.com.

    The post Recommendations to Boost Entrepreneurship in Switzerland appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
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