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Building momentum and fostering
innovation-driven entrepreneurship
in Europe
Nicholas Davis
03.2014/46327d 2
Valerie Casey
Founder and
Executive Director,
The Designers
Accord, USA
Discussions in Davos indicate serious, high-level support
for fostering scalable, innovation-driven entrepreneurship
Rajeeb Dey
Chief Executive Officer,
Enternships.com,
United Kingdom
Neelie Kroes
Vice-President and Commissioner
for the Digital Agenda, European
Commission, Brussels
Antony Jenkins
Group Chief Executive,
Barclays, United Kingdom
Clayton Christensen
Professor of Business
Administration, Harvard
Graduate School of Busi-
ness Administration, USA
Jyrki Katainen
Prime Minister of
Finland
Toomas Hendrik Ilves
President of Estonia
Karl-Ludwig Kley
Chairman of the
Executive Board,
Merck, Germany
Alexander Ljung
Co-Founder and
Chief Executive
Officer, SoundCloud,
Germany
Overview on speakers and topics of project session in Davos
Source: Project team

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Making sense of fragmented approaches and myriad
ideas is helped by a lifecycle model of entrepreneurship
Source: Project team
A lifecycle model of entrepreneurship
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A survey of 1200 entrepreneurs indicates significant
regional differences in how difficult each phase is
Source: Project team
Perception of conditions per lifecycle phase and region
(% of somewhat favorable or very favorable answers) Scale upStart upStand up
Southern Europe
Central and Eastern Europe
Western Europe
Northern Europe
Germany, Austria, Switzerland
Stand up
Start upScale up

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Overall conditions are perceived best for the stand up
phase, and most critically for the scale up phase
21 20
13
31 31
28
15 18
20
20 22
26
11 9 11
53 51
41
Scale up
2
Startup
1
Stand up
1
Source: Project team
Perception of conditions per phase of the entrepreneurial lifecycle (%)
Very favorable
Somewhat
favorable
Neutral
Somewhat
unfavorable
Very unfavorable
No opinion
Scale upStart upStand up
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These differences may be influenced by regional
differences in sources of funds for entrepreneurs
Source: EVCA; Project team
18 18
23
31
36
40
10
5
24 7
7
30
28
15
31
24
8
25
6
7
11
9
15
10
23
7
13
13
16 5
18
13
446
4
Benelux
and France
UK and Ireland CEE
1
3
Southern
Europe
13
3
1 3
1
DACH
3
1
3 23
NE
1
Fund of funds and other
asset managers
Sovereing wealth funds
Government agencies
Corporate investors
Pension funds
Insurance companies
Capital markets
Family offices and private
individuals
Banks
Academic institutions,
endowments and
foundations
Scale upStart up
Sources of funds – European venture funds by region (% of total incremental fundraising
2007-2012)

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Idea/projectInnovation
Funnel
The sweet spot for scaling in Europe seems to be around
more and better collaboration between large and small
10 Levers and challenges to improve collaboration
Entrepreneur
perspective
1. The partner could also be an intermediary
Source: Project team
Assess needs and capability
gaps, define search fields
Clear definition of objectives to
collaborate, leadership support
Large corporate
perspective
1
Corporate
Strategy
2
Prepare organization to
collaborate
Openness across the
organization to collaborate, clear
alignments of tasks and benefit 3
4
Identify long-list of potential partners
Transparency on available partners
Develop clear USP and brand to
attract high potential partners
Provide transparency on needs, create
attractive offering for partners
Negotiate and fix
contract with partner1
Adaptability of processes
Operate and develop collaboration
Develop and strengthen permanent win-win
situation, link collaboration to business value
10
5
Entrepreneur
Strategy
6
7
8
Assess needs and capacityto
collaborate
Clear definition of objectives
to collaborate
Steer and monitor degree of
openness
Opening up where appropriate;
communicating proactively
Make systematic use of networks to attract
partners
Continuous networking effort; systematic use
of references for signalling
Scout potential partners
Identify relevant large corporates and
champion inside the company to
support the project
9
Scale up
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Respondents see great potential in a network of initiatives
and important potential in improved collaboration of actors
Partner: Potential to improve collaboration
between entrepreneurs, universities, large
companies and academic institutions within your
country (%)
Connect: Importance of setting-up and
developing a visible, inclusive network of public
and private initiatives designed to support
entrepreneurship across Europe (%)
Source: Project team
59
30
7
12
89
1
Not very importantNot at all importantNo opinion Very importantSomewhat importantNeutral
35
44
10
6
80
3 1
Agenda to foster innovation-driven entrepreneurship: connect and develop

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There is strong willingness of entrepreneurs to support
the ecosystem which needs to be translated into action
Improving access to tools and training on howto partner
between large businesses and entrepreneurial ventures 28
Creating more transparency about what newventures and
established businesses are looking for in term of potential partners 28
Creating more opportunities for entrepreneurs
and large businesses to network 45
Helping private investors "unlock"capital in Europe
and direct it towards venture markets 28
Supporting entrepreneurs to access skilled
employees to join their ventures 32
Providing mentoring to newfounders 54
Providing more opportunities for potential entrepreneurs to
obtain practical experience in an innovative business or start-up 46
Tailoring the education curricula in schools and universities
to focus on the skills thatentrepreneurs require 50
Raising awareness of entrepreneurial success stories
that potential entrepreneurs can relate to and be inspired by 53
Personally, in order to foster entrepreneurship I would be willing to engage in the following
action this year (%)
Source: Project team
Start
up
Scale
up
Stand
up
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Share best practices among
entrepreneurs, academic
institutions and market
leaders on how to collaborate
Experiment with and track
emerging models of
cooperation between large
corporations and start-ups,
creating success stories and
spreading them in a “race to
the top”
Partner
Three approaches can help build momentum and foster
innovation-driven entrepreneurship
Develop a transparent,
inclusive Europe-wide
database and network of
initiatives for
entrepreneurship
Make corporate investors
aware of the portfolios of
Venture Capital investors and
innovative companies therein
Encourage sharing of
ideas and approaches
across organisations
promoting entrepreneurship
Connect
Ensure that the voice of
entrepreneurs is heard by
policy makers: showcase
needs and opportunities.
Set explicit criteria for
identifying momentum-
building initiatives and
promoting them in ways that
increase the transparency of
entrepreneurship-supporting
activities across the region
Highlight less-known
entrepreneurial success
stories and peer-level role
models
Focus
Overview
Source: Project team

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