Latest news with #startup
Forbes
5 minutes ago
- Business
- Forbes
EU-Wide Plan AimsTo Nudge Researchers Towards Startup Life
Fderico Menna, CEO of EIT Digital says Europe's ecosystems are fragmented Europe has a commercialisation problem. The continent is home to a great many world-class universities, but their record on converting laboratory research into successful startup and scaleup businesses is relatively poor when compared to their counterparts in the United States. It's not an easy problem to solve, but a new initiative by EIT Digital is hoping to encourage more academic researchers to explore commercial pathways for the IP they create. Established in 2010 and part funded by the E.U., EIT Digital's mission is to drive digital innovation while also supporting entrepreneurship in Europe. Its latest initiative - dubbed SPIN: RISE - aims to address what it describes as the 'research-to-market' gap. It's a bold statement of intent given the deep-seated issues that are preventing Europe from matching the levels of innovation seen in the U.S.. So what can reasonably be achieved? To find out more, I spoke to EIT Digital's CEO, Federico Menna. Under Exploited Research There is certainly a problem to be addressed. Towards the end of last year, former European Central Bank President Mario Draghi published a report on European competitiveness. One of the observations in a generally downbeat document was that much of the research generated by Europe's researchers remained unexploited. Indeed, only about a third of the patents granted by Europe's issuing body found their way to the marketplace. In other words, there are a lot of wasted opportunities. So why is Europe underperforming? According to Menna, there are a number of reasons, not least an outflow of talent. As he sees it, the US, China and Europe are fairly evenly balanced when it comes to nurturing technology talent. However, around 60% of Europe's technologists and entrepreneurs have opted to live and work in the U.S.. 'These talents are the ones who are pushing the technology forward, bringing the technology to the market and creating global players,' he says. Regulation can have a dampening effect. The European Union - often for very good reasons - is rather fond of regulating, but Menna says this can be counterproductive when it comes to the development and rollout of new technologies. Capital is also a problem, with European VCs tending to be relatively risk-averse. Then there is the reality of fragmentation. There is a European Single Market, but within that, there are 27 ecosystems, each with its own regulations and IP protection mechanisms. 'The support structures are there, but they don't connect with each other,' adds Menna. There is perhaps even more diversity around technology transfer, with rules, attitudes and enthusiasm varying significantly between universities. Collectively, all these factors act as a deterrent to entrepreneurship. Encouraging Entrepreneurship EIT Digital's approach to solving the problem is to work with university Technology Transfer Offices (TTOs) to identify research with commercial potential while providing entrepreneurial education for researchers. Menna says the idea is to create a template for all of the EU. 'The value of SPIN: RISE is that it brings the activities of TTOs and of entrepreneurial training to a higher level. We are trying to unify the approach across Europe without entering into the fragmentation of each individual member state.' How does this play out in practice? Menna describes SPIN:RISE as a pre-incubation program. 'The outcome of this is not a startup yet. The outcome is an entrepreneur or a researcher who is not quite an entrepreneur yet, but who is ready to take the next step. From there, we connect to our other programs, like Venture Incubation. That moves on to creating the company and getting the first investment.' The initiative is divided into two parts. The first is online and is to some extent focused on awareness raising - for instance, helping researchers to identify possible commercial opportunities. Then there is an on-site component. 'We allow them to have hands-on experience - refining their innovation, discussing the value proposition, meeting industry partners. This is where they begin to get their hands dirty and start moving away from research and into business.' The aim this year is to have around people 150 taking part in the online component and similar number going on to the advanced stage. The programs are delivered in tandem with delivery partners such as Bocconi University in Milan and SIBB in Berlin. Menna stresses that the program is focused on market verticals, namely smart manufacturing, digital health and wellbeing, cyber resilient societies and trustworthy AI, and dual use technologies for civil and security applications. It is, he says, a question of priorities. 'The innovation gap is across the board, and we will not solve it across the board. There are technologies where Europe will not catch up. There are others where Europe can catch up. And in the case of some technologies, Europe is in the lead and we shouldn't allow others to take the lead. For example, Quantum.' The success of the program will be measured by conversion rates. In the longer-term, how do these conversion rates translate into companies created and MVPs? Later on, EIT digital will track first customers and first investors. There are different perspectives on this. Earlier this month, the European Commission announced that the trading bloc was doing well on innovation, particularly when viewed through the prism of progress made by member states. This reflects the fact that the countries making up the EU have their own programs, ambitions and priorities. In that respect, EIT Digital's initiative potentially represents another piece of the jigsaw with a program designed to encourage technology transfer across the continent.
Entrepreneur
44 minutes ago
- Business
- Entrepreneur
The Side Hustle Generation: Why Nearly Half of UK Adults Are Eyeing Entrepreneurship in 2025
According to Enterprise Nation, nearly half of UK adults are considering launching a business or side hustle in 2025—signaling a nationwide shift toward passion-driven, purpose-led entrepreneurship. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. In kitchens, coffee shops, and co-working spaces across Britain, something is brewing—and it's not just flat whites. A quiet but powerful shift is taking place in the mindset of working adults, one that could redefine the UK's economic landscape. According to a new report from Enterprise Nation, nearly half of UK adults (47%) are now considering starting their own business or launching a side hustle in 2025. It's not just a trend—it's a movement. And it's being driven by a new generation of entrepreneurs who are rejecting outdated work models and rewriting what ambition looks like. The Rise of the Passion-Led Founder Unlike the traditional startup founder narrative—think high-stakes pitches, Silicon Valley dreams, and endless VC rounds—today's budding entrepreneurs are driven by purpose, creativity, and flexibility. Many are turning hobbies and personal interests into income streams, from homemade bakes and fashion styling to wellness coaching and digital art. According to Enterprise Nation's data, the majority of these aspiring founders cite reasons that go beyond money. Around 42% are seeking more fulfilment and meaning in their careers, while 38% are motivated by the desire to turn a passion or hobby into something tangible. Meanwhile, 36% want greater control over their time and income—reflecting a deeper shift in how people view work, purpose, and personal freedom. It's a deeply personal kind of entrepreneurship, often bootstrapped, digital-first, and community-oriented. Gen Z Leads the Charge Unsurprisingly, Gen Z—those aged 18 to 30—are leading the pack, with 62% saying they're likely to start something of their own this year. Many are choosing business ownership straight out of school or university, motivated by digital tools that lower the barrier to entry and the growing appeal of "freedom over formality." But it's not just the young. 51% of 31–40-year-olds also report they're actively considering a side hustle or full-blown venture. Even retirees and mid-career professionals are entering the game, often as consultants, makers, or online educators. Emma Jones, founder of Enterprise Nation, describes the shift as a "new wave of working," where entrepreneurial thinking is no longer reserved for a select few. "It's a movement grounded in optimism," she says. "People want more control over their future—and they're realizing that starting something small can be the most empowering way to get it." Digital Tools, Real Opportunities What's enabling this groundswell? Two things: technology and mindset. The explosion of e-commerce platforms, AI-powered productivity tools, and remote collaboration software has made starting a business from your bedroom more viable than ever. Social media, too, is playing a major role. Platforms like TikTok and Instagram aren't just marketing tools—they're launchpads. Many young entrepreneurs are building audiences before they even have a formal product, validating ideas in real-time and cultivating communities around their brand values. Meanwhile, digital marketplaces and low-cost SaaS solutions mean that selling, shipping, invoicing, and managing a business can now be done from a smartphone. Policy and Support Still Lagging Despite this enthusiasm, many new entrepreneurs are navigating the system without much formal support. Access to funding, business education, and mentorship remains uneven—particularly outside London and for those from underrepresented backgrounds. Enterprise Nation is calling on the government to streamline support for this new generation of small-scale entrepreneurs, particularly through better digital skills training, local community funding, and easier access to financial services for micro-businesses. The group is also encouraging large companies to create partnerships and procurement opportunities for side hustlers and solopreneurs—recognizing them not as fringe players, but as part of a vital and growing segment of the economy. From Side Hustle to Serious Business What begins as a creative outlet or weekend project can evolve into a thriving business. In fact, many of the UK's fastest-growing companies today started as side hustles—from skincare brands built on kitchen counters to tech consultancies launched during lockdown. And while the economic headlines may be dominated by inflation or funding slowdowns, this grassroots entrepreneurial surge suggests a more hopeful story—one of resilience, innovation, and self-determination. As 2025 unfolds, the real entrepreneurs to watch may not be those raising millions, but the ones raising the bar for what it means to work with purpose.
Bloomberg
3 hours ago
- Business
- Bloomberg
Pritzker Lures Another Startup for His Chicago Quantum Campus
Illinois Governor JB Pritzker has sealed a deal to bring another company to his Chicago quantum computing campus after investments from PsiQuantum Corp. and International Business Machines Corp. Infleqtion, a Colorado-based startup which recently raised $100 million, said it will build a utility-scale quantum computer as part of a $50 million, four-year public-private partnership with Illinois, according to a statement on Wednesday. The project will be developed at the state's new quantum and microelectronics park in Chicago's South Side.
Yahoo
4 hours ago
- Business
- Yahoo
Former Y Combinator, a16z experts hold invite-only summit for founders
On August 9, the people who previously ran startup incubator Y Combinator's events and PR, along with a former Andreessen Horowitz social media manager, are holding a small, invitation-only event, TechCrunch has learned. The To Do List Summit will cap off at 80 early-stage founders and will teach them how to work with the press and run their own social media, the organizers promise. The fee for the event is $600. YC laid off most of the folks putting on this event between a small layoff about a year ago and a larger one in 2023. These layoffs were surprising at the time because Y Combinator's events have always been highly popular and were a major force in making San Francisco the hub for the burgeoning AI startup community. (Of course, the center of that universe is YC-affiliated OpenAI, also headquartered in San Francisco and run by former YC president Sam Altman). The people putting on this event are doing it because they are appalled at how often early-stage startups are led to believe they must pay tens of thousands of dollars to hire PR and social media agencies, one person involved told TechCrunch. Still, in the wake of startups that routinely go viral, like Cluely, founders feel pressured to do the same. It's also true that a single social media post can make an early-stage startup go viral these days. The founders of app vibe coding startup Rork were almost broke when a viral tweet led them to raise $2.8 million and nab a spot in a16z's Speedrun program. Defense tech startup Theseus landed a contract with the U.S. Special Forces, $4.3 million in funding, and a spot in YC from a viral X post. If the folks behind the new event could help YC founders, they believe they can help founders who aren't part of the famed program — and on the cheap without giving up equity. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
4 hours ago
- Business
- TechCrunch
Former Y Combinator, a16z experts hold invite-only summit for founders
On August 9, the people who previously ran startup incubator Y Combinator's events and PR, along with a former Andreessen Horowitz social media manager, are holding a small, invitation-only event, TechCrunch has learned. The To Do List Summit will cap off at 80 early-stage founders and will teach them how to work with the press and run their own social media, the organizers promise. The fee for the event is $600. YC laid off most of the folks putting on this event between a small layoff about a year ago and a larger one in 2023. These layoffs were surprising at the time because Y Combinator's events have always been highly popular and were a major force in making San Francisco the hub for the burgeoning AI startup community. (Of course, the center of that universe is YC-affiliated OpenAI, also headquartered in San Francisco and run by former YC president Sam Altman). The people putting on this event are doing it because they are appalled at how often early-stage startups are led to believe they must pay tens of thousands of dollars to hire PR and social media agencies, one person involved told TechCrunch. Still, in the wake of startups that routinely go viral, like Cluely, founders feel pressured to do the same. It's also true that a single social media post can make an early-stage startup go viral these days. The founders of app vibe coding startup Rork were almost broke when a viral tweet led them to raise $2.8 million and nab a spot in a16z's Speedrun program. Defense tech startup Theseus landed a contract with the U.S. Special Forces, $4.3 million in funding, and a spot in YC from a viral X post. If the folks behind the new event could help YC founders, they believe they can help founders who aren't part of the famed program — and on the cheap without giving up equity.
