Building the Next Facebook a Tough Task in Europe: Interesting analysis on why big Internet companies tend to come from the U.S., and – in particular – not from Europe.
Why has Europe not managed to create a Facebook or a Google? The reasons are complicated, according to entrepreneurs, investors and analysts. Some say European start-ups have been too focused on copying Silicon Valley ideas. Others say Europe lacks the necessary entrepreneurial get-go. Still others say the fragmentation of European markets, with dozens of languages and legal systems, stymies even the most energetic.
Researchers at Bruegel, a think tank based in Brussels, have identified one overriding problem: a shortage of financing, especially private capital, for the risky business of starting and growing high-technology companies.