The Start-up and Scale-up Initiative aims to combine all the possibilities that already exist in the EU, but plans on including a new focus on venture capital investment, insolvency law, and taxation. However, while the EC notes that there isn’t a lack of new ideas in Europe, it highlights the fact that many firms fail to make it beyond the first few years. Especially important for fintech startups will be in 2017 where the Commission will put forward proposals for a Single Digital Gateway that provides easy online access to Single Market information, procedures, assistance and advice for citizens and businesses
Three key points are emphasized in the new initiative:
- To remove barriers for startups to scaleup in the Single Market.
- To create better opportunities for partnership, commercial opportunities and skills.
- To facilitate the access to finance.
Read more about the initiative in the European Commission press release: