i found a different species.../europe on line.
And they can't survive in Europe
While most of the elite in Brussels were attending the European Business Summit, which is one of Europe's biggest business events our newspaper was proud to partner with, I found myself at an event in Amsterdam called The Next Web. I've attended some of the world's largest events, with the biggest political and business personalities. The Next Web was nothing like I ever experienced before - and this was on account of the people that constituted this gathering:
3000 geeks.
They proudly call themselves geeks; more formally technologists, but are they people? Is the stereotype of square-eyed programmers who are anti-social and don't know how to live, wrong? Or perhaps they are an entirely different species all together? Their special powers are harnessing the power of ideas, and making them realities. They use their knowledge, networking, and teamwork to build projects which may turn into billion dollar businesses.
Startups, startups, startups. An idea, Angel investment, Series A funding, and boom, a baby is born. That means nothing to most people in Europe.
The concept behind startups is simple. People with a good idea, get together, build a proof of concept, and then go around selling a percentage in this newly formed company in several investment rounds until they have enough money and exposure to balloon it to a full-blown business. What differentiates these businesses from the more traditional models is that we are usually talking about projects which involve the internet (no tangible goods and stocking), and that these projects are extremely high risk. Facebook and Instagram are the most notable examples that have been making the news recently.
Sure these startups exist in Europe some will say, but once they grow to a significant size, they are all obliged to make the transatlantic Journey. Some talk about brain drain. Nations are losing their scientists, doctors, and creative minds to far away lands. Europe is not just experiencing brain drain, but something much worse, Europe is losing its innovators.
I wonder how many of you know Hermione Way? Hermione is a determined young woman with an amazing story and a charming British accent, and she has leapfrogged into the silicon valley jet set. "I finished university in the UK and realized that the curriculum was archaic. I should have been learning about blogging and new media and I was learning about traditional media." Hermione started a company called Newspepper, to train and get prospective journalists new media training, facilitating them with paid internships and eventually higher salaries on account of their skill-sets. Hermione realized that if she wanted to make her dreams come true, she needed to leave Europe. And so she did. She now works on several projects, is the Silicon Valley Video Director for The Next Web, founder of Newspepper.com and Techfluff.TV. She is also set to be one of the stars of a reality TV show called 'Silicon Valley' where she'll join Randi, the sister of Facebook founder Mark Zuckerberg, and others in a mansion where they will live together.
For the hundreds of millions that the European Union and member states are pumping to make innovation thrive, Europe still does not have a silicon valley. It's all about mega corporations and big government projects. The 'SMEs' of innovation cannot grow in an inhospitable environment, and if they do, they reach a glass ceiling.
I talked to James Gill, CEO of GoSquared, a real-time web analytics startup in the UK. He told me somewhere in North London, a few technology startups like his have rented office space in the same building (White Bear Yard), in what has been dubbed 'Silicon Roundabout'. "It's a terrible name, but it's all we have", he said in a disappointed yet hopeful tone.
The geeks are flocking to the USA to make their dreams come true. There is little to offer them in Europe in the long term - there is simply no silicon valley in the EU.
Is it about money? For some people perhaps. But there are many other motivations people tred the path. some to make their dream a reality, or to create the job they want for themselves. Johnny Diggz, founder of Geeks without Bounds and Tropo evangelist says, “Geeks have a natural passion for solving problems, sometimes that problem is how to make a better way to share pictures with your friends, and sometimes they’re solving problems like human trafficking.”
Geeks have evolved - or maybe the stereotype was wrong all along. They have formed a community, they've mastered the social skills needed to pitch business ideas and bring in investors, and certainly know how to have a good time. But what drives this synergy is their openness. They come together, exchange ideas and stories, and use these to innovate in a climate that accepts them and fosters their growth.
Below see the keynote speech by Reddit Cofounder Alexis Ohanian.
ABOUT THE AUTHOR
Director, New Europe
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