Is Europe Just Not Good at Innovating? - Bert Hubert's writings

2 days ago

Europe is weak in high-tech innovation, partly due to cultural and social factors like undervaluing technology and risk-aversion.
US offers better incentives for innovation through higher salaries, startup culture, and risk-reduction via potential big payoffs.
European founders face obstacles from banks, tax agencies, and societal disapproval, making startups less attractive compared to stable jobs.
European companies often outsource technical work, reducing internal innovation and treating technology as a bought service rather than a core activity.
European marketing is understated, leading to underinvestment in sales and customer engagement, while US over-the-top marketing is more effective globally.
Europe struggles to attract ambitious immigrant talent due to cultural integration issues, unlike the US which benefits from diverse founders.
European investor culture is risk-averse, preferring costed plans over speculative ventures, and funding amounts are smaller than in the US.
Government innovation subsidies in Europe are bureaucratic, inflexible, and favor established firms over startups, stifling pivots and risk-taking.
Proposed solutions include de-risking startups, calibrating funding for real risks, leveraging cooperative instincts, and using public procurement to support European innovators.
Europe has strengths like high-quality education, cooperative ecosystems, and urgent problems to solve, which can be turned into innovation drivers.

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