Global venture capital industry declined in 2003, and the EU VC investments have significantly underperformed US VCs over the last decade. One explanation may be an ongoing focus of European VCs on concept and idea development with the associated greater risks that follow from development and time-to-market uncertainties. Does this mean that the idea prevails to the management team on this side of the world? I remember one of my profs saying that if he were to choose between an A type of idea with a B type of management and a B type of idea with A class management, he'd always go for the latter. Problem is that (especially in Romania and CEE) it is always dificult to find qualified people for making things happen, as entrepreneuship is not really part of the European business DNA. I touched upon this in an earlier post also Loic had good comments on it at that time.
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