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Startup coalition publishes open letter urging



A coalition of investors and entrepreneurs are increasingly worried that Europe's startup momentum could have been derailed by a lack of talent to fill jobs. 30 CEOs calling on Europe's political leaders to address the shortage.

"Europe could be the world's most entrepreneurial continent but ecosystem is a serious bottleneck to growth, "the letter says.

The Signees include CEOs of Farfetch, Stripe, Delivery Hero, BlaBlaCar, and Criteo. 100,000 employees over the next year. And that does not include the startups that have been created yet.

Currently, the rules are set by each country, rather than at the European Union level.

[194559002] A study by Index Ventures is slated to be released at the upcoming Slush Conference in Helsinki.

In an interview, Index partner Martin Mignot said in past years, lobbying efforts by the tech sector have focused on the need to inject more capital into the European system

"The talent part is where Europe is Badly lagging, badly behind, "Mignot said. "Even though there are a lot of great companies getting built up, if you want to get that next stage, the top startups need to attract the talent they need. Both in Europe, but abroad as well. "

Mignot said, because of this they have become the most commonly accepted form of compensation in places like Silicon Valley, and European startups need to be able to match those offers. The study notes, for instance, the European employees own around 1

0 percent of their companies compared to the 20 percent in U.S. startups.

As part of the study, the index suggests that governments put in place clear regulatory approvals and offer better tax treatment and more favorable valuation rules.

"There are bits and pieces that are getting better," Mignot said. "We can not say there's a tidal wave of every country realizing this is a big issue. We believe that now is the time. A few years ago, the value had not even been created. So the question of how you split the value is not really on the agenda. But if you would like to start your business, you have to make it easier for the start-up companies to make their own business. "


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