Tech leaders emphasize that Europe needs to invest more significantly in young entrepreneurs.

      Industry leaders today emphasized that Europe needs to take greater risks on young entrepreneurs to cultivate the technology giants of the future. At the TNW Conference, investors and CEOs urged for more robust support for entrepreneurial aspirations to prevent Europe's top ideas and talents from relocating elsewhere.

      Kieran Hill, General Partner at 20VC, a venture capital firm started by podcast host Harry Stebbings, called on European institutions to increase their risk tolerance. “We need to change how we promote ambition,” he stated. Hill is convinced that altering this perspective is crucial for nurturing Europe’s future business leaders. He cautioned that many talented founders now prefer the US, where the business icons that inspire them are located, and where entrepreneurial success is celebrated.

      “At a certain stage in Europe, there’s a natural tendency to gravitate towards Silicon Valley or New York because they’re perceived as the best opportunities,” he remarked.

      His sentiments were echoed by Nicola Ebmeyer, co-founder and CEO of Gain.pro, a private market intelligence and deal sourcing platform based in Amsterdam, which frequently ranks among Europe’s fastest-growing startups. Initially, however, her aspirations were met with skepticism at home.

      Having established a stable career at McKinsey, she faced criticism for deciding to launch a startup, with many deeming her plans excessively risky. “I have never heard so many times, ‘Nicola, you are probably making the worst decision of your life’,” she shared.

      Ebmeyer sees her experience as indicative of a broader cultural issue in Europe, relating it to the saying: “You can’t be what you can’t see.” Although typically associated with underrepresented groups, she believes this principle applies equally to entrepreneurial ventures. “You need people around you to illustrate what’s achievable; to raise the standards, to guide you, to demonstrate that you too can succeed,” she explained.

      Hill has devised his own strategy to cultivate these leaders. In March, 20VC supported Project Europe, an early-stage fund aimed at entrepreneurs under the age of 25. Over 120 European founders from companies such as Klarna, Mistral AI, and Shopify have united to offer investment and mentorship for the initiative.

      The aim is to retain ambitious and talented entrepreneurs within the continent and equip them with the necessary resources to prosper. Hill insists that there’s a pressing demand for this kind of support, noting that young founders in Europe hold ambitions comparable to their American peers but lack similar financial backing. “The infrastructure here is simply not inclined to take risks on young individuals,” he said.

      He urges other investors to take a cue from Project Europe. He criticized the existing European venture capital scene for being overly focused on business models rather than on founder motivation. “That’s symptomatic of Europe,” he noted. “It’s not my approach, but it’s how I perceive 95% of VCs. The risk appetite is just incredibly low.”

      Despite these critiques, Hill also pointed out the positive developments occurring. He mentioned that several of the fastest-growing startups today, such as Mistral, Synthesia, and Loveable, are based in Europe.

      To create more such success stories, he and Ebmeyer concur that Europe must adopt a mindset of greater risk-taking and invest more heavily in its young founders.