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Conversation with PJ Pärson – On Role Models, Europe and all things venture
In a candid conversation with Forbes, PJ Pärson shared his insights on the state of European entrepreneurship and the challenges it faces. A seasoned entrepreneur himself, PJ spoke about the need for a mindset shift in the European ecosystem.
According to PJ, one of the primary hurdles is the lack of role models. “Europe doesn’t celebrate its entrepreneurs like they do in the US,” he said. “We have world-class founders who are changing industries and lives, but we don’t treat them as heroes.” He emphasized that it’s crucial to recognize and support these entrepreneurs instead of stigmatizing failure.
Another significant obstacle is Europe’s risk aversion. “The US has this culture of ‘failing forward,’ whereas in Europe, failure is still a taboo topic,” PJ highlighted. He believes that Europeans are starting to come around, but there’s still much work to be done.
Funding gaps also pose a significant challenge for European startups. While early-stage funding has improved, it’s the later-stage capital that’s scarce. This makes it difficult for companies to scale globally. “If you want to scale big in Europe, the chances are you’re getting a growth check from Insight, Sequoia, Tiger, or SoftBank – not a local fund,” PJ pointed out.
However, PJ believes there is hope on the horizon. He highlighted the abundance of talent, strengthening networks, and experienced founders recycling capital and advice into the ecosystem. “We’re seeing a flywheel effect take hold, where founders from companies like Skype, Revolut, Klarna, UIPath etc. are now backing the next generation – not only with capital but also sharing their playbook.”
When asked if Europe can create its own ‘Elon Musk,’ PJ responded that it’s not about copying the US model, but rather forging a unique path tailored to Europe’s strengths. He emphasized the importance of a mindset shift, encouraging entrepreneurs and investors to focus on building rather than talking.
Regarding the ongoing trade war between the US and EU, PJ surprisingly saw an opportunity for Europe. “This could be the kick in the pants we need to strengthen public markets and increase private capital allocation to innovation,” he said.
To overcome these challenges, PJ stressed the importance of talent retention, keeping founders in Europe instead of losing them to Silicon Valley or other hubs. He also emphasized the significance of celebrating success rather than vilifying entrepreneurs who have achieved significant milestones.
PJ concluded by stating that it’s not about replicating the US model but rather embracing an authentic European approach to entrepreneurship. It’s time for Europe to recognize its entrepreneurs as heroes and create a supportive ecosystem that fosters growth and innovation.
The full interview with PJ Pärson is available on Forbes, where he delves deeper into the complexities of the European startup scene.
Source: http://www.forbes.com
