Doing business in the digital age: the impact of new ICT developments in the global business landscape Europe's vision
and action plan to foster digital entrepreneurship This report has been prepared for the European commission DG Enterprise and Industry April 2013 2 Content Content...
5 An economy in transition: from digital to digitally-driven...8 Vision and objectives...13 Vision...
and enhance investments...31 Access to finance...31 Use of alternative financing sources...32 Finance knowledge...
benchmark analysis of existing schemes and policies to boost digital entrepreneurship...38 The European policy background...
45 3 Entrepreneurship 2020 Action Plan...46 Small Business Act for Europe (SBA...47 European E-business Support Network for SMES...
and enhance investments...58 Pillar 5: Boost the digitally powered single market...61 Impacts...65 Conclusion...
77 Benchmarking analysis...78 4 Foreword Digital technologies are one of the most important sources of growth for national economies.
They enable economies to create more jobs, improve people's lives and build better and greener societies.
Citizens, enterprises, universities and governments become increasingly connected in the digital world. Digital is changing people's lives:
and transforms the business environment, from fashion to automotive, from transport and logistics to energy distribution.
and services are conceived, developed, produced and accessed. They are enabling businesses to faster develop and bring to market innovative products
and services that it was impossible to think about before. Digital technologies help to totally reshape value chains,
and accelerate smarter use of‘digital'technology in various sectors of the European economy. Michel Catinat Head of Unit Key Enabling Technologies and ICT Enterprise and Industry Directorate-General European commission 5 A business landscape in transition The European business landscape:
driven by SMES With a GDP of circa 13 trillion euros in 2011, the European economy is by far the leading economy worldwide.
With almost 74%of the EU GDP, the service sector dominates, compared to industry with around 25%and agriculture with only 2%of GDP.
Representing 99.8%of all enterprises, SMES1 are the backbone of this service-driven economy. From Table 1, it is clear that the typical EU enterprise is a SME,
or more specifically, a microenterprise with less than 10 employees. In employment terms, almost 67%of workers are employed by SMES
of which 45%are employed by micro-enterprises, 30%by small companies and the remaining 25%by mediumsized companies.
Additionally, according to a study analysing the role that SMES play in creating more and better jobs,
Table 1 Number of enterprises, SME employment and gross valued added in EU 27 (2010) Source:
Annual report on EU Small and Medium sized Enterprises 2010/2011 1 According to EU recommendation 2003/361, a small and medium-sized company or SME is defined as any company
micro enterprises with 1 to 10 employees and a turnover or a balance sheet total less than 2 million euros, small enterprises with 10-49 employees and a turnover or a balance sheet total between 2 and 10
million euros and medium-sized enterprises, having 50-249 employees and a turnover less than 50 million euros or a balance sheet total less than 43 million euros.
Micro Small Medium SME Large Enterprises Number 19 198 539 1 378 401 219 252 20 796 192 43 034
1 067 387 3 492 980 2 485 457%21.6%18.9%17.9%58.4%41.6%SMES are the backbone of the European economy,
both in terms of number of enterprises and employment 6 Table 2 illustrates the size of six different industry clusters2 in terms of the percentage of the total Member State workforce employed in a particular
i e. looking horizontally, most European citizens are employed in‘knowledge intensive business services'.'Nevertheless, differences between Member States are significant,
People employed in‘knowledge-intensive business services'can be found in Central europe, with Belgium, France and the UK taking a leading position.‘
Deloitte, based on Clusterobeservatory. eu (2011) Small and medium-sized enterprises are highly dependent on entrepreneurs, i e. individuals who have the ideas
According to the 2012 Eurobarometer Survey on Entrepreneurship, which examines the motivation, choices, experiences and obstacles linked to self employment
this gap in‘entrepreneurial perception'between the two economies has reduced surprisingly as the image of European citizens towards entrepreneurs slightly improved(+4)
and opening opportunities for new companies and industries it could be Creative and cultural industries Knowledgeintensive business services Labourintensive industries Life science Tourism & Hospitality Transport & distribution Other Austria
i e. looking horizontally, most European citizens are employed in‘knowledge intensive business services'.'When comparing the different clusters it is clear that in particular Member States some clusters are more significant in terms of employment SMES highly depend on entrepreneurs.
Nevertheless, in the EU a truly entrepreneurial climate is often lacking 8 said that an economy almost fully driven by (micro) SMES could be the ideal catalyst to make the most of the huge potential of digital technologies.
An economy in transition: from digital to digitally-driven There is no debate over whether digital innovation is a profound force in our economy.
The digital economy isn't just about speeding up communication across borders or changing the skills workers need;
it is about changing the very nature of consumption, competition and how markets operate. More profoundly, it is also driving a significant shift in the balance of power between organisations and individuals.
The explosion in connectivity and the availability of information is putting today's consumers, employees, citizens, patients and other individuals in a controlling position.
Tesco's virtual store As customers are living their lives differently, Tesco believes they have to be tuned into the technology they are using.
As a result, from August 2011, South-korean customers can shop at‘Tesco Homeplus'-Tesco's virtual grocery store.
and how a business can realise its potential across a spectrum of digital opportunities by building on the way it currently uses digital technologies
Customer insights combined with the ability to reach out to customers more effectively. Operating models-the way daily operations and processes are organised.
Business models-the way value is created, delivered and captured. Any single force has the potential to reshape an industry
as online retail and globalisation intensify competition. However supermarkets face fewer direct threats from overseas players, due to the perishable nature of grocery goods and the relatively low value of many items,
and develop products and services. The impact of digitisation on marketing, sales and services is more obvious than on other business functions,
though impact on other business functions cannot be neglected. Nevertheless it can be said that a huge digital potential is far from fully exploited.
in order to leverage the digital potential for Europe's SMEDRIVEN economy. 3 Definitions see Annex. Quenching customer insight:
facilitating Gatorade reaching out more proactively to influencers and customers. Initial results are impressive, with claims of a 250%increase in engagement and 65%reduction in early (web page exits.
sales and services is more obvious than on other business functions, though impact on other business functions cannot be neglected 12 Figure 3-Business function classification based on value chain framework of Michael Porter Phonak:
These innovations are changing economies and markets, and reinventing relationships between organisations, suppliers and customers thus becoming critical elements for growth, innovation and job creation.
It is estimated by Mckinsey that for every job destroyed by the adoption of digital technologies,
To foster a truly entrepreneurial culture to leverage the digital potential for Europe's SME-driven economy.
cover the transformation to a digitally driven economy, digital entrepreneurship5, high-tech skills and talent, access to finance
and leveraging the opportunities of the digital single market. 1. Increase industry digital transformation. Increase the take-up
and enhance investments. Improve access to finance for each stage of enterprise development and support the growth of digital entrepreneurial ventures. 5. Boost the digitally powered single market.
Improve the ease of doing digital business in and across Member States, by equally stimulating the demand
and supply of digital technologies and creating economies of scale. 5 Digital entrepreneurship embraces all new ventures
and the transformation of existing businesses that drive economic and/or social value by creating
Digital enterprises are characterised by a high intensity of utilisation of novel digital technologies (particularly social
invent new business models, sharpen business intelligence, and engage with customers and stakeholders. They create the jobs
and growth opportunities of the future. 15 Figure 4 Objectives The analysis in this paper is oriented around the above five pillars.
Over the following chapters it examines the challenges and barriers of each of the five pillars for digital entrepreneurship,
and provides recommendations for elevating the role of European public policy. 1. Increase industry digital transformation 2. Create a digital entrepreneurial culture 3. Attract,
and enhance investments 5. Boost digitally powered Single Market Increase the take-up and use of digital technologies by industries and SMES in order to transform existing business
technology and entrepreneurial skills Improve access to finance for each stage of enterprise development and support the growth of digital entrepreneurial ventures Improve the ease of doing digital business in and across Member States,
in order to equally stimulate demand and supply of digital technologies and creating opportunities for scale VISION Policy background 16 Barriers
and challenges It is an unusual, and perhaps even unique, time to have so many emerging forces,
opening the door to a new set of rules for operations, performance and competition. This is an opportunity for digital technologies to truly help elevate business performance.
Governments and policy makers are recognising the important role of digital in the economy and efforts are being made to foster digital entrepreneurship.
However, despite these efforts, there are still many barriers and challenges that can stand in the way of doing business in the digital age.
Understanding and anticipating these barriers and challenges is important when establishing the policy background for digital entrepreneurship.
Pillar 1 Increase industry digital transformation In order to increase the take-up of digital technologies and intensify the digitisation process in Europe's economy
one has to realise that the way of doing business in the digital age differs between industries
& Logistics Business & Administrative Services Utilities Basic Manufacturing Chemicals Trade & Retail Equipment & Machinery Automotive Media & Telecommunications Computers & Electronics Financial services & Insurance Leading
companies with different business models face very different questions as different business functions will find themselves more or less exposed to digital disruption.
0 1 2 3 Hotels & Restuarants 4 5 6 Computers & Electronics Real estate, Rental & Leasing Trade & Retail Business & Administrative Services Utilities Media
and services have moved forward more quickly in digitising their procurement processes, processing dimension, output contact with customers and infrastructure.
Based on all of the above, policy makers should take into account the differences at both industry and business function level
Players both old and new face real challenges in meeting the demand for new products and services in the age of digitisation,
In what was used to be a relatively stable business environment for the old-line ICT service providers,
new business models are emerging, as are new modes of innovation. Booz&co, 2012)- 6-7-6-10-7 1-4-3-5 555 17 14 3 Input 31.4 Hotels & Restuarants Construction
& Logistics Business & Administrative Services Utilities Basic Manufacturing Chemicals Trade & Retail Equipment & Machinery Automotive Media & Telecommunications Computers & Electronics Financial services & Insurance-15
cooperation between the demand and supply side is crucial to accelerate the transformation of Europe into a competitive place for doing business through the smart use of digital technologies.
However, the extent to which enterprises currently cooperate differs considerably across Member States and industries and will be an additional barrier policy makers will face
%whilst the remaining enterprises relied solely on internal resources (see Figure 9). Figure 9 Enterprises cooperating with suppliers of equipment, materials, components or software(%of total innovative enterprises) Source:
Deloitte analysis Pillar 2 Create a digital entrepreneurial culture Small and medium-sized enterprises depend highly on entrepreneurs-individuals who have the ideas
Nevertheless, the stigma attached to a failed entrepreneurial venture, the heavy administrative burdens, the social constraints and obligations and resulting difficulties in attracting investors make it challenging to develop a more entrepreneurial climate
and to encourage more people to start a business. 7 Defined by the European commission as enterprises with innovation activity,
The extent to which enterprises currently cooperate differs across Member States 21 According to the 2012 Eurobarometer Survey on Entrepreneurship,
and that they develop new products and services from which the whole of society benefits.
entrepreneurship is regarded very highly in Denmark, Ireland and Finland, with 74, %68%and 67%respectively of citizens questioned having a favourable image of entrepreneurs.
Entrepreneurship in the EU and beyond; Deloitte analysis Additionally, there is too often a stigma attached to failure in the EU. According to Figure 11,50%of the EU participants agreed that
Amongst its Member States, those in Ireland, the UK and Scandinavian countries countries which also have a positive image of entrepreneurship are more likely to start-up a business even
and positively changing the perception of digital entrepreneurship into a desirable and reasonable career choice.
This should encourage new, small and innovative digital entrepreneurs to offer new tools and services in the digital market.
and citizens to exploit the opportunities provided by digital technologies more intensively than is currently possible.
Entrepreneurship in the EU and beyond; Deloitte analysis However, it must be remembered that not all European citizens are born natural entrepreneurs.
Therefore, fostering an entrepreneurial mind-set‘along the way'and easing the process of creating an enterprise
not only to connect to other start-ups and stakeholders in that city, but to adjacent cities and to the entire country as well.
'i e. taking initiative and developing new ways of working, products and services within existing enterprises,
and innovation-driven economy will have a clear dependence on technology, high-tech skills and human capital are required arguably also for successfully doing business in the digital age.
Today most jobs already require some kind of computer related knowledge. Whilst ICT specialists8 accounted for around 3-4%of EU employment,
Doing business in the digital age will require enterprises to have access to a specific and scarce set of skills and talent
In its‘Communication on e-Skills for the 21st Century and the Digital Agenda for Europe',the Commission presented a long-term EU e-skills strategy.
New competences and jobs for a greener and smarter economy 10 IDC (2009. Post crisis: e-Skills are needed to drive Europe's Innovation Society 11 See:
The key to this is cooperation between enterprises and higher education in order to shape the curriculum and skills required for success
most cooperation between enterprises and higher education can be found in Finland with a cooperation degree of 28,
%Cooperation is less common in Southern and Eastern europe as in those Member States less than 10%of all enterprises with NACE activities related to innovation,
'and‘science and technology'closely followed by‘information and communication'.'This should come as no surprise,
'‘transportation and storage'and‘financial and insurance services',cooperating less with universities or other higher education bodies. 2 8 7 7 11 10 15 18 17 19 19 18 19 21 21 21 23
Austria Germany Romania Greece 21%of European workers believe that their ICT skills are currently insufficient for them to change job within 1 year 25 Table 3 Enterprise cooperation with universities or other
higher education bodies(%of innovative enterprises) Source: European commission (2011. Science, Technology and innovation in Europe; Deloitte analysis Column1 All NACE activities related to innovation Agriculture, forestry & fishing Mining & quarrying Manufacturing Utilities Water management Construction Business services
Wholesale trade Retail trade Transportatio n & storage Accommodation & food Information & communication Financial & insurance Real estate Science & technology Administration & support Finland 28
%31%51%36%13%12%22%Slovenia 23%20%10%30%Austria 20%19%21%48%23%14%7%11
an entrepreneurial mind-set is lacking in Europe as entrepreneurship is too often not fully embedded in education and training provision.
According to the 2012 Eurobarometer Survey on Entrepreneurship, illustrated in Figure 13,50%of EU respondents agreed that their school education helped them to develop a sense of initiative and some kind of entrepreneurial attitude.
entrepreneurship is too often not embedded in education and training provision. Entrepreneurial education: examples of best practices In Sweden, the region of Halland has managed to boost young people's interest in entrepreneurship in an exemplary way.
Primary and secondary schools offer entrepreneurship classes, students are given the chance to participate in businesslike projects
and numerous teachers are trained to pass on entrepreneurial skills. As a result, 44%of young people in the region aged 18-30 now want to become self-employed, a record across the whole of Sweden.
http://www. regionhalland. se/In Denmark, the Foundation for Entrepreneurship-Young Enterprise aims to strengthen Denmark's competitiveness
and to position the country as one of the most leading European countries with regard to intrapreneur-and entrepreneurship.
By influencing the interest in entrepreneurship, independence, and innovation at all levels of the Danish education system,
Despite this gain, too little action is being taken by Member States to promote entrepreneurship as a desirable career path upon graduation
Changing mindset and aspirations towards entrepreneurship are crucial to achieving this and can be supported by promoting internships
or apprenticeships with SMES or initiatives actively supporting the conversion of ideas into enterprises The Entrepreneur First initiative for example-a not-for-profit programme launched by the UK Prime minister in March 2011-is a two-year programme
which gives university graduates with promising business ideas the opportunity to start a business, supported by corporate mentoring,
it is important to note that supporting a change in mind-set towards entrepreneurship should not be limited to formal education
and support services targeted at the needs of adults too. 28 Figure 13 Entrepreneurship and the educational system:
Entrepreneurship in the EU and beyond; Deloitte analysis Statistics on the number of ICT graduates in the EU are showing that,
countries like Singapore and the UK have relaxed their visa requirements for highly skilled individuals willing to work in their national economies.
an investment of at least S$50k (equivalent to ca. € 30k) is required and a 10-page business plan must be submitted.
In the UK, the Entrepreneurs'Visa was introduced in April 2011 to attract foreign, high-qualified talent to start up their business.
the country has benefitted traditionally from large immigrant communities as in the US 24%of all enterprises are founded by immigrants.
"Moreover, the Entrepreneurship 2020 Action Plan14 proposes to consider initiatives which would remove barriers to entrepreneurship,
It also suggests to analyse the opportunity of giving qualified third-country entrepreneurs a permit to allow them to set up a business in Europe.
and more attractive for non-EU national students and researchers to stay in the EU and to identify job opportunities
with Member States and other stakeholders at its centre, however, needs to be strengthened further and further developed. 13 The Startup Visa Act does not allocate any new visa numbers
Entrepreneurship 2020 Action Plan: reigniting the entrepreneurial spirit in Europe 15 COM (2013) 151 final.
and enhance investments Finance is crucial to business success and an important factor for economic growth in Europe, especially in view of any past or future economic crisis.
through structural funds, the Competitiveness and Innovation Framework Programme, Progress Microfinance as well as lending from the European Investment Bank.
the‘High-tech Gründerfonds'in Germany, aiming to reduce the financing gap for hightech enterprises in their seed phase
the Seed Enterprise Investment Scheme (SEIS) was created in the UK. To be eligible, a business receiving the investment must be a UK resident unquoted company,
less than two years old, have fewer than 25 employees and have less than £20, 000 in gross assets.
the investor cannot be an employee of the company nor have more than a 30%interest. 16 After finding customers,
cited by 24%business managers. 17 European commission-DG Enterprise and Industry (2011). SMES'Access to Finance.
The legal and regulatory framework currently leaves too much opportunity for fragmentation and does not always take into account new and alternative financing sources like crowdsourcing. 31 Traditional financing sources such as bank loans
On the other hand, the growing importance of alternative financing channels like crowdfunding platforms cannot be neglected. Figure 14 shows that the amount raised globally by crowdfunding platforms in 2012 equals €2. 2 billion
almost twice the amount raised in 2011 (€1. 1 billion), and successfully funded more than 1 million campaigns.
In Europe, the amounts raised by crowdfunding platforms grew 65%to €0. 7 billion. For 2013, Massolution forecasts an increase in global crowdfunding volumes up to €3. 9 billion18.
Figure 14 Amount raised by crowdfunding platforms (€ billions) Source: World Economic Forum (2012), Crowdsourcing. org & Massolution;
Deloitte analysis Innovative and growth-oriented SMES and entrepreneurs often depend on capital from external sources as they do not have their own resources
or cannot access loans. However, many investors are reluctant to invest in start-ups and innovative firms because of the high risks and transaction costs,
crowdfunding might be one of the solutions for restoring capital to entrepreneurs and SMES. According to the 2012 Crowdfundingframework. eu report‘A framework for European crowdfunding'
crowdfunding can not only provide start-up capital for SMES and entrepreneurs, it includes several nonfinancial benefits:
validation of product features, market segmentation, price and demand, pre-sales and customer feedback as well as word-of-mouth marketing and a stable, committed shareholding structure.
Although the European commission issued an action plan to improve access to finance for SMES in 201119,
it did not include crowdfunding as an alternative, viable option for finance. As crowdfunding is continuing to boom,
Member States are taking different actions, resulting in a European legal and regulatory framework leaving too much opportunity for fragmentation and 18 Massolution (2013).
The crowdfunding industry report 19 European commission (2011. An action plan to improve access to finance for SMES 2012 2013 (est.)2. 2 2011 1. 1 2010 0. 7 2009 0. 4 3
. 9 The amounts raised by crowdfunding platforms are growing significantly 32 making it difficult to access finance across borders.
The Prospectus Directive20, for instance, offers freedom to Member States to implement a country-specific promotional regime for crowdfunding campaigns
and has resulted in many different national regimes ranging from full prospectus regimes to complete exemptions.
Moreover, an expert group for the Directorate-General Enterprise and Industry working on cross-border matching of innovative firms with suitable investors
argued that the fragmented European regulatory environment along national lines for cross border platforms are among the emerging challenges
To avoid a fragmented European regulatory environment the European commission is, amongst others, currently taking actions aimed at monitoring the various initiatives already been put in place by organising workshops with European stakeholders
and regulators and by networking with U s. counterparts in the realm of the TEC Council22.
Additionally, the Entrepreneurship 2020 Action Plan on Entrepreneurship invites Member States to assess the need of amending current national financial legislation with the aim of facilitating new
alternative forms of financing for start-ups and SMES in general and crowdfunding platforms in particular. Furthermore, the Green Paper on long term investment23 has formulated a specific question on crowdfunding,
aimed at receiving different views on this topic and reviewing the impact on regulation. Also, the 2013 Commission Staff Working Document'Strengthening the environment for Web entrepreneurs in the EU'24 proposes an action with regard to venture capital
and crowdfunding, aiming at supporting a network of European crowdfunding platforms to support, provide visibility, transparency and interconnectivity among existing EU crowdfunding platforms.
Looking at access to equity financing the 2011 EU survey‘SMES'Access to Finance'states that equity finance was used by only 7%of SMES,
concluding that the main challenge to increasing this percentage is to overcome the lack of readiness to invest or financial knowledge.
and venture capital firms, compared to 63%when talking with banks. In this respect, the 2012 report‘A framework for European 20 Directive designed to improve the quality of information provided to investors by companies wishing to raise capital in the European union (2003/71/EC
amended by 2010/73/EC) 21 European commission (2012. Report of the Chairman of the expert group on the cross border matching of innovative firms with suitable investors 22 The TEC Council is a political body to oversee
Green paper on long-term financing of the European economy 24 European commission (2013. Strengthening the environment for Web entrepreneurs in the EU Lack of information
and financial knowledge is for some SMES and entrepreneurs a barrier to accessing finance. 33 crowdfunding'indicates that SMES often fail to attract venture capital finance as a result of information asymmetry between entrepreneurs and investors.
Pillar 5 Boost digitally powered single market As mentioned before, the European business landscape is fragmented,
Measuring Industry Digitisation-Leaders and Laggards in the Digital economy Generally, central and northern economies are more digitised
and those economies lead Eastern and Southern Europe in all but one industry(‘real estate, rental & leasing').
'The gaps between regions tend to be the largest in Europe's traditional, non-service oriented economies like‘chemicals'and‘basic manufacturing'.
Figure 15 illustrates clearly that it's not possible to speak about one digitally empowered single market in Europe as the European business landscape is a patchwork of national economies and Basic Manufacturing Utilities Business & Administrative Services Transportation & Logistics Consumer goods Real estate,
Figure 16 illustrates that the current level of cooperation between enterprises from different Member States (MS),
Additionally, the European commission states in its communication on clusters in the European Union25 that persistent market fragmentation,
and face global competition. In this respect the European's Commission statement26 that weaknesses in standard-setting
A Digital Agenda for Europe A non-harmonised regulatory and legislative framework prevents European businesses from working together as well as they should. 35 Figure 16 Enterprises engaged in any type of innovation co-operation with a partner
Germany Ireland Bulgaria Italy Spain Slovenia Estonia Belgium 35 28 33 30 26 Luxembourg The current level of cooperation between enterprises from different MS
In the previous chapters this report focused on the impact of ICT developments in the global business landscape taking into account the specifics of the European industry dominated by small and medium enterprises.
Small and medium-sized enterprises (SMES) that are intensive users of technology not only grow and export more than their peers,
Difficult access to finance and investments. Fragmented digital market. By not tackling these stumbling blocks, policymakers not only compromise the economic recovery but also impose limitations on the digital industrial development of Europe.
These objectives and policy options have been discussed extensively with stakeholders-industry, academics and European policy makers. The policy actions developed to overcome the challenges
benchmark analysis of existing schemes and policies to boost digital entrepreneurship To understand what actions can be initiated both by public and private sector in order to boost digital entrepreneurship, digital and entrepreneurial policies and schemes
regions or cities were assessed in a benchmark analysis27. According to this analysis digital entrepreneurship is in most cases determined by a combination of key factors illustrated in Figure 18
-which not always directly can be influenced by policy makers. Therefore, one should take into account that endowing European citizens with an entrepreneurial mind-set
In Sweden, for instance, for a long time entrepreneurship was not something‘admirable'.'However, by the end of the 1990s, the success of a number of start-ups had a profound effect on entrepreneurship
and helped break the stigma Swedish society associated with start-ups. As a result, entrepreneurship became‘hot'in Sweden with digital icons such as Niklas Zennström (Skype)
and Daniel Ek (Spotify) putting entrepreneurial success in the picture and promoting entrepreneurship as a desirable career choice.
At European level, however, limited action is taken currently to celebrate those success stories or to strengthen awareness campaigns more. 27 Deloitte (2013).
the impact of new ICT developments in the global business landscape-Benchmark analysis. See also annex. 38 Figure 18 Overview of key success factors boosting digital entrepreneurship Source:
Deloitte benchmarking analysis As there is no one single factor able to explain the success of digital entrepreneurship in a particular country, region or city,
in order to encourage entrepreneurship and create a successful start-up ecosystem. As illustrated in Figure 19, policy makers can approach digital entrepreneurship in three different ways, i e.:
a hands-on, hidden hand or hands-off approach. Figure 19 Potential role of policy makers Source:
Deloitte benchmarking analysis Market scalability Very high High Private sector role Mind-set and ambition Silicon valley United kingdom Sweden Berlin Government role Medium/Low Access to finance Ease of doing business Note:
Singapore & U k. Hidden hand Entrepreneurship and a start up culture have been accelerated by sometimes unintended nonmarket actions Examples:
defence research, military spending, world-class universities and technology investments Applicable to: Silicon valley & Sweden Hands-off Emerged organically Little active and direct government involvement Role of government might change rapidly,
with the government developing policies and regulations rapidly as start-up ecosystem continues to emerge Applicable to Berlin Role of policy makers 39 EXHIBIT KEY FINDINGS BENCHMARK ANALYSIS Silicon valley Silicon valley emerged organically as a start-up ecosystem
the U k. government commitment has articulated a strong vision for the U k. to emerge as a leading centre in the new high tech economy
and the start-up scene has been key to improve the entrepreneurial climate Singapore The Singapore government has always been eager to seek for new growth opportunities To capture the potential of (digital) technologies
and create a vibrant start-up ecosystem that provides opportunities for local and foreign start-ups, investors, venture capitalists and talent,
nowhere it is so easy to do business as in Singapore This is perhaps best illustrated by the Enterpriseone portal, bringing together a range of information, services and support from 30 different government ministries and public
and start-ups This direct and active government involvement has been key for Singapore's success Sweden Entrepreneurship
going together with infrastructure investments This has resulted in a tech savvy population (engineering background), eager to adopt new technologies
and Sweden being connected the most economy in the World Role models and big exits were and are a source of inspiration for (future) entrepreneurs Due to‘limited'internal market opportunities,
Sweden is considered often as an excellent test market Additionally, these internal scalability constraints make Swedish entrepreneurs to think international
and outward looking as from the very beginning Entrepreneurship is supported by several agencies; although direct involvement is limited rather Berlin Because of a low cost of living
and a lot of office space available, many young entrepreneurs (average age of 31.9 years) are attracted by Berlin's start-up ecosystem:
and less focusing on market scalability Direct and active government involvement both at federal and state level is limited rather
The Europe 2020 strategy is about delivering growth that is smart-through more effective investments in education
research and innovation-sustainable, thanks to a decisive move towards a low-carbon economy, and inclusive, with a strong emphasis on job creation and poverty reduction.
Providing more opportunities for students to gain additional skills through study or training abroad, and to encourage cross-border cooperation to boost higher education performance;
This communication gives particular attention to combatting youth unemployment, covering four areas which are defined as essential to be addressed
and communication technology (ICT) offers to boost growth, increase productivity and improve the welfare of citizens and consumers.
The Digital Agenda proposes 101 specific policy actions across 7 domains to stimulate a virtuous circle of investment in and usage of digital technologies:
the Commission adopted the communication on e-commerce and other online services in January 2012, containing 16 actions aimed at identifying the main obstacles to the Digital Single Market an doubling the volume of ecommerce in Europe by 201530.30 COM (2011) 942 final.
Integrating technological developments such as cloud computing, communication on radio spectrum sharing, guidelines on state aids on broadband, etc.
In order to respond to the fast pace of change in ICT and the appearance of new challenges and opportunities,
and wholesale pricing to promote investments in high-speed networks and strengthen competition across all networks. 4. For cloud computing,
the Commission will launch pilot actions in the European Cloud Partnership, harnessing public buying power to help create the world's largest cloudenabled ICT market,
the Commission will propose a Directive on network and information security. 6. For Entrepreneurship, Digital jobs and Skills,
to increase Europe's attractiveness for investment in design and production as well as growing its global market share. and online services 31 European commission (2013).
with 1. 2 million jobs expected to be created in infrastructure construction in the short term, rising to 3. 8 million jobs throughout the economy in the long term.
energy and communication infrastructure and services to serve European industry. 6. A new strategy on raw materials creating the right framework conditions for sustainable supply and management of domestic primary raw materials. 7
1. Investment in innovation-providing the right framework conditions for investment. 45 2. Better market conditions improvements in the functioning of the Internal Market
and opening up international markets. 3. Access to finance and capital to improve lending to the real economy by better mobilising
and targeting public resources. 4. Human capital and skills equipping the labour force for industrial transformations,
The Entrepreneurship Action Plan is a blueprint for decisive action to unleash Europe's entrepreneurial potential,
and to foster the culture of entrepreneurship in Europe. The Entrepreneurship Action Plan proposes three areas for immediate intervention:
1. Entrepreneurial education and training to support growth and business creation. 2. Strengthening framework conditions for entrepreneurs by taking actions in six areas:
and growth Unleashing new business opportunities in the digital age Transfers of businesses Bankruptcy procedures
and second chances for honest entrepreneurs Regulatory burden reduction. 3. Making the culture of entrepreneurship in Europe more dynamic by nurturing the new generation of entrepreneurs.
Digital technologies create new business opportunities for entrepreneurs. As indicated in the Commission Industrial Policy Communication,
"entrepreneurs need to exploit the full potential of the digital single market in the EU that is expected to grow by 10%a year up to 2016".32 In this respect,
both in terms of supply of new digital products and services and in terms of demand and smart use of these technologies by a o. launching the Digital Agenda and the Industrial policy flagship initiatives.
In addition to those initiatives, a number of specific actions are taken within the Entrepreneurship 2020 Action Plan to enhance trust towards online trade, i e.:
Foster the knowledge base on major market trends and innovative business models. Raise awareness through a Europe-wide information campaign for entrepreneurs and SMES on the benefits from the new digital evolutions. 32 European commission (2012.
Industrial Policy Communication Update 46 Facilitate networking to spark and support new business ideas. Launch specific actions for web entrepreneurs.
the Small Business Act for Europe reflects the European commission's political will to recognise the central role of SMES in the EU economy.
and to improve the overall approach to entrepreneurship: 1. Create an environment in which entrepreneurs and family businesses can thrive
and entrepreneurship is rewarded. 2. Ensure that honest entrepreneurs who have faced bankruptcy quickly get a second chance. 3. Anchor the'Think Small First'principle in policy making,
i e. listening to SMES before introducing new laws and examining the effect legislation will have on small businesses;
and business environment supportive to timely payments in commercial transactions. 7. Help SMES to benefit more from the opportunities offered by the single market. 8. Promote the upgrading of skills in SMES
and all forms of innovation. 9. Enable SMES to turn environmental challenges into opportunities. 10.
Between 2008 and 2010, Member States achieved good results in boosting entrepreneurship and promoting SMES as shown by the following examples relating to the first principle‘promoting entrepreneurship':
'Entrepreneurship programmes were introduced to foster the entrepreneurial attitudes and skills of young people and to make them aware of the possibility of starting an enterprise.
In Member States such as Denmark, The netherlands, Sweden and the UK, entrepreneurship education became the object of a coherent national strategy.
Some Member States are involved in national or European programmes encouraging female entrepreneurship. To encourage Member States to step up their efforts to promote
and support entrepreneurship and SMES, a review of the SBA was initiated in February 2011. In order to reflect current economic developments,
bring the SBA into alignment with the priorities of the Europe 2020 47 strategy and continuously improve the business environment for SMES,
the review proposes further action in four priority areas: 1. Improve access to finance to invest
and grow. 2. Smart regulation to enable SMES to concentrate on core business. 3. Making full use of the single market. 4. Helping SMES face the challenges of globalisation and climate change.
wherever possible, exempting micro-enterprises from EU legislation or introducing special regimes so as to minimise the regulatory burden.
The European E-business Support Network for SMES (ebsn) was established in response to high-level political focus on the important role of ICT in boosting the competitiveness of the overall EU economy.
e-business policies for SMES have evolved as they have tried to adapt to the changing needs of enterprises.
Starting from raising general ICT awareness and financing basic ICT investments and internet connectivity, e-business policies have matured towards personalised ebusiness coaching,
to help SMES connect better to larger enterprises and become fully integrated international business partners.
with the objective of catalysing the creation of interoperable e-business frameworks that would help link SMES to larger enterprises in an efficient way.
While the focus of these actions is on smaller enterprises, the ultimate beneficiary is the entire European economy.
The first results are remarkable. The business benefits of digital supply chains lie in significant gains in efficiency
speedier and affordable integration of SMES, cost savings, better time 48 management, error-free communication and demand-driven production,
but also in better services to customers, new market opportunities and better time to market. In the actions completed already,
This communication outlines a policy framework for better complementarities and synergies between the different policy levels with a view to supporting the development of more worldclass clusters in the EU. It includes a number of measures to improve synergies between the different policy levels that affect further strengthening of clusters:
which target digital entrepreneurship and aim to contribute to the realisation of EU's ambition to accelerate the transformation of the European business landscape through the use of digital technologies.
This section looks into options for policy action in all industries and sectors of the economy as there is potential
and enhance investments. 5. Pillar 5 Boost digitally powered single market. This list of policy actions is the result of in depth research
and workshops with key stakeholders from both private and public sectors. Some options for policy action build further upon
however, when looking into specific sectors of the economy, some differences are observed in the degree of digital transformation among traditional businesses and SMES or start-ups.
Receiving input about innovative ideas for the promotion of the digitisation of industrial sectors is important for the increase of actual entrepreneurship related to digital applications.
This type of platform should bring together stakeholders with hands-on experience in their field of specialisation as well as entrepreneurs with specific ideas about opportunities fostering digital applications into sectors less digitally transformed.
Description Build further on the Commission's communication entitled‘Towards world-class clusters in the European union:
They provide a fertile business environment for companies, especially SMES, to collaborate with research institutions, suppliers,
customers and competitors located in the same geographical area. The EU does not lack clusters, but needs more world-class excellence.
enterprises to the digital market (e g. for tourism, automotive, construction, healthcare, etc. and the development and distribution of smart applications and digital solutions for specific industries.
It is supposed that private partners are to be key stakeholders. Take into account issues concerning market distortion and competition.
Organise digital contests for the development of apps in specific sectors. Owner: European commission Member States Private partners In order to foster collaboration and the exchange of information between different sectors, setting up platforms promoting industry-specific digital solutions will be beneficial.
and promote business models, best practices and information about specific know-how on applications that can be developed
MEDIUM HIGH 52 ACTION 4 Awareness campaign on digital entrepreneurship Launch an awareness campaign on digital entrepreneurship to identify
and promote European digital icons, serial entrepreneurs, intrapreneurs and success stories. Share industry specific success stories and innovative development.
Description Identification of digital icons, serial entrepreneurs, intrapreneurs and success stories throughout the European union. Organisation of yearly events on entrepreneurship targeting digital entrepreneurship.
Promotion of awareness campaigns through: -An EU-wide portal with information on entrepreneurial events across Member States.
launch supportive programs and schemes or celebrate success stories in the field of digital entrepreneurship.
ACTION 5 Mentoring and networking platforms Create industry specific digital entrepreneurship mentoring and networking platforms to
Identification of key responsibilities at Member State level, for the implementation of the action and the creation of awareness involving local stakeholders.
and specialised knowledge amongst entrepreneurs is essential for fostering a more entrepreneurial environment. Sharing information about new technologies, success stories of fostering digital entrepreneurship, available skills and experts in the market 2 Impact:
MEDIUM Effort: LOW-MEDIUM 2 Impact: MEDIUM Effort: MEDIUM 53 are all very important. However, in addition, guidance and mentoring provided by experienced people in the area is also very crucial.
and‘new business ventures'between young and digitally-minded entrepreneurs and existing enterprises in any other sector Description Leverage the existing‘Erasmus for Young Entrepreneurs'exchange programme to encourage exchanges and new business
ventures between young and digitallyminded entrepreneurs and existing enterprises in any other sector. Encourage the applications for exchanges of young entrepreneurs
The programme can be used to boost the concept of digitally embedded exchanges of digitally minded entrepreneurs and more traditional enterprises and sectors.
in order to stimulate the use of open public data for the creation of new business opportunities and services.
Europe's biggest open data competition Encourage European entrepreneurs to access and use this data to transform raw data into apps, websites or other products.
and transform it into innovative products or services. Feature best practices in order to attract more data, both from public authorities and the private sector.
open standards and open licences, has the potential to create enormous business opportunities. However, companies and entrepreneurs using open data need to be nurtured
ACTION 8 Embedding entrepreneurship in education Strengthen the development of the European reference framework on embedding entrepreneurship in education (especially in the fields of science, technology,
Description Strengthen the ongoing development of policy guidance on entrepreneurship education, announced in the Rethinking Education Communication and providing rationale,
advice and practical examples to policy makers on why and how to effectively embed entrepreneurship education across education and training systems.
Supporting schools to incorporate entrepreneurship in their curriculum e g. distribution of teaching materials funding of pilots, promotion of best practices through various channels and promotion of partnerships with businesses.
Introduction of specific topics on entrepreneurship in the curricula of universities and colleges e g. enhance business games
or competitions where scholars are encouraged to start a mini-business. Provision of training and awareness sessions for teachers on entrepreneurship.
Build awareness amongst heads of schools, through targeted information sessions, to ensure that time and resources are freed up to follow these sessions.
Owner: European commission Member States Private partners Europe is known for its academic excellence. However, a European paradox is mentioned often,
referring to lagging-behind other economies (primarily the US) in applying science into marketable technological applications.
and colleges up-to-date in a fast-growing technological environment is a prerequisite for graduates with a good‘match'to the evolving needs of the labour market.
The EC could foster this through the development of a European reference framework that will embed entrepreneurship into education.
This can involve the introduction of entrepreneurship subjects in the curriculum not only of universities and colleges but also of schools,
at the same time, updating the knowledge of teachers with respect to entrepreneurship and the educational approach to entrepreneurship in secondary education.
) Description Promoting entrepreneurship as a desirable career path in the EU by offering students and graduates alternatives to the classic route (i e. working at‘traditional'companies Encourage higher education to invite start-ups and entrepreneurs to career fairs.
or young potential entrepreneurs can boost entrepreneurship. The role of universities and colleges, on the one hand, and that of existing companies, on the other hand, are both crucial.
entrepreneurially-minded people can prove key in promoting entrepreneurship. 3 Impact: LOW Effort: LOW 56 ACTION 10 Europe Entrepreneurs'Visa Act Initiate‘Europe Entrepreneurs'Visa Act'towards Member States in order to attract talent outside the European union
Support Member States in defining eligibility criteria for potential entrepreneurs (startup capital, type of business, controlling interest, business plan requirements, etc.
European commission Member States Private partners A future'Europe Entrepreneurs'Visa Act'should target entrepreneurs founding an enterprise and willing to hire non-European highly skilled employees and non-European
or make them more targeted for digital entrepreneurship. ACTION 13 Promote use of existing financial instruments Promote the use of existing European financial instruments and initiatives such as Horizon2020, the European Investment Fund,
JEREMIE (Joint European Resources for Micro to medium Enterprises) and JASMINE (Joint Action to Support Micro-finance Institutions in Europe) regional funds and the EU programme for the Competitiveness
of enterprises and SMES (COSME) Description Strengthen the Your Europe-finance and support-web portal as single point of information on existing financial instruments for entrepreneurs Actively promote these financial instruments through:
-Events and promotional activities via industry associations and national bodies. -Campaigning. -Promotion via funding programmes/schemes (regional development, FP7.
The organisation of events that promote existing financial instruments is crucial especially in the environment of potential entrepreneurs
promote and support best practices on tax incentives for digital entrepreneurship to encourage more people to reinvest their gains in the digital business (cfr.
SEIS the Seed Enterprise Investment Scheme in UK). ) Description Consider the case for a capital gains tax rollover relief for shares
in order to facilitate cross border investments in digital businesses. Tax relief systems can combine income tax relief for individuals who subscribe for qualifying shares in a company which meets the‘digital'requirements
and who have tax liability in a European country, with a capital gains re-investment relief system in which an asset
Organise a communication and dissemination campaign promoting the new initiatives for a single market for intellectual property rights.
ACTION 16 Harmonisation of crowdfunding policies Harmonisation of the single market with regards to crowdfunding by listing various national crowdfunding policy frameworks and providing an overarching European policy structure
Description Carry out a study on the various crowdfunding policy frameworks in the Member States. Develop an overarching European policy structure in order to harmonise national regulations and policies.
Reduce the administrative burden for crowdfunding platforms, simplifying the licensing requirements for these platforms. Develop awareness campaigns among stakeholders and decision makers for the opportunities of crowdfunding.
Support research on the impact of new forms of funding for entrepreneurs. Use the success of crowdfunding as an example of how digital technologies can impact business models. 4 Impact:
LOW Effort: MEDIUM 4 Impact: LOW Effort: MEDIUM 60 Owner: European commission Member States Private partners Getting access to early-stage growth capital remains one of the challenges facing young entrepreneurs.
Crowdfunding provides a response to this challenge. Crowdfunding is offered in different Member States, but different rules and conditions apply in the different Member States making it difficult to provide a harmonised environment in this respect for all digital entrepreneurs independently of the Member State in which they operate.
Taking action to harmonise the different rules and conditions among the Member States will also provide an environment promoting cross-border collaboration.
The digital industry should be able to benefit from the EU single market environment. However
there are a number of challenges and barriers hindering this, such as language barriers, barriers for doing business across Member State borders,
a protectionist mind-set etc. The following policy options seek to overcome these barriers and are aimed at optimising the opportunities of the single market.
ACTION 17 Monitor the evolution of digital entrepreneurship Establish a digital entrepreneurship scorecard and monitor the evolution of digital entrepreneurship across Member States:
perceptions and aspirations towards digital entrepreneurship, the quantity and quality of digital and e-leadership skills, entrepreneurial talent, access to finance, etc.
Description Develop a monitoring mechanism to follow-up and measure in a systematic way the evolution of key trends in digital entrepreneurship, including:
-Emerging technological trends and their potential impact on business and new business opportunities. -The evolution of the digital entrepreneurial culture, the perception of and expectations from digital entrepreneurship.
-The take-up of digitisation across industries and the evolution of digital skills, eleadership skills and talent across Europe.
-Emerging market needs, new business paradigms and their impact on the European economy. Develop a scorecard with indicators for monitoring the key aspects across Europe.
Create a digital interactive platform in order to publish the results. Use the platform as a knowledge sharing instrument between digital entrepreneurs, industries, science and politics.
European commission Member States Private partners Digital entrepreneurship is developing fast and will continue to do so in the decades to come.
and evolutions in the digital entrepreneurship landscape is going to be crucial. This need for monitoring will be important
Leverage the Service Directive to extend the scope of PSCS to other sectors (currently covers the services sector only.
or transform their business. 33 The Services Directive aims to improve the ease of doing business in the European union.
or perform temporary services in the EU/EEA area. The Directive obliges Member States to eliminate unnecessary bureaucracy,
Member States and in the private sector to foster digital entrepreneurship and do business in the digital age.
in order to coordinate and leverage the different programmes and policies aimed at fostering digital entrepreneurship, comprising DG Enterprise,
DG Connect, DG Market, DG EAC, DG RTD, different NGO's, the Member States and private sector organisations.
Combine the collective monitoring of results and impacts of existing programmes with the preparation and implementation of new initiatives across domains and services.
and the private sector and which are focusing on fostering digital entrepreneurship and doing business in the digital age.
Description Explore possibilities of support programmes for translation services for SMES (tax incentives, grants. Support multilingualism in campaigns, information sharing and platforms for (digital) entrepreneurs.
Support the development of standards for services and products for digital entrepreneurs in order to facilitate and strengthen the digital single market.
or obtain language services at low cost. The existent language barriers can be significant for small companies that need to hire people 5 Impact:
and Public Procurement of Innovation (PPI) initiated by DG Enterprise and Industry. Community development raising of awareness, capability development and mutual learning amongst all relevant parties to procurement of innovation, contracting authorities, organisations and SMES in order to show how contracting authorities
and does not take into account items such as investment and maintenance costs. Here, in order to estimate effort to implement policy actions, in a qualitative way,
related to the promotion of an entrepreneurship culture, have, in general, a relatively high estimated impact. Potential Impact Pillar 1:
and enhance investments Pillar 5: Boost digitally powered Single Market Low Medium High low Medium High Strategic Quick Wins investment projects Options for policy action 1 European Digital Innovation
campaigns 2 Reinforcing existing industry clusters 3 Encouraging industry-specific digital solutions distribution platforms 4 Awareness campaign on digital entrepreneurship 5 Mentoring
and networking platforms 6 Erasmus for young entrepreneurs 7 Open data initiatives 8 Embedding entrepreneurship in education 9 Encourage students
and graduates to start a digital start-up 10 Europe Entrepreneurial Visa Act 11 Relax the visa requirements applied to highly skilled individuals 12 Online courses to close knowledge gaps 13 Promote use of existing financial
instruments 14 Tax incentives for a capital gains tax rollover relief for shares 15 Implementation of the European Intellectual Property framework 16 Harmonisation of crowdfunding policies 17
Monitor the evolution of digital entrepreneurship 18 Leverage the national‘Points of Single Contact'19 Monitoring,
7 8 9 10 11 13 14 18 20 Implementation effort 5 17 19 12 15 16 21 Tactical investment
'and are described in Table 4. Table 4 Quick Wins projects The policy actions that are located in the top-right area of the matrix are typically strategic investment projects
but are expected to have a high impact on the economy. These projects are described in Table 5. Table 5 Strategic investment projects Objective Action Description Pillar 1:
Increase industry digital transformation (2) Reinforcing existing industry clusters Reinforcing existing industry clusters in the EU by integrating more ICT dynamics
Create a digital entrepreneurial culture (4) Awareness campaign on digital entrepreneurship Launch an awareness campaign on digital entrepreneurship to identify
and promote European digital icons, serial entrepreneurs, intrapreneurs and success stories. Share industry specific success stories and innovative development.
in order to stimulate the use of open public data for the creation of new business opportunities and services.
and enhance investments (13) Promote use of existing financial instruments Promote the use of existing European financial instruments and initiatives such as Horizon2020, the European Investment Fund, JEREMIE (Joint European Resources
for Micro to medium Enterprises) and JASMINE (Joint Action to Support Micro-finance Institutions in Europe) regional funds and the EU programme for the Competitiveness of enterprises and SMES (COSME) Pillar 5:
and networking platforms Create industry specific digital entrepreneurship mentoring and networking platforms to which experts from various industries can subscribe as a mentor (cfr.
Startup Britain's Local Champions)( 8) Embedding entrepreneurship in education Strengthen the development of the European reference framework on embedding entrepreneurship in education (especially in the fields of science, technology,
and enhance investments (14) Tax incentives for a capital gains tax rollover relief for shares Share, promote and support best practices on tax incentives for digital entrepreneurship to encourage more people to reinvest their gains in the digital business (cfr.
SEIS the Seed Enterprise Investment Scheme in UK). ) Pillar 5: Boost digitally powered Single Market (21) Facilitation of public procurement of digital innovations developed by SMES Set up actions to facilitate the public procurement of digital innovations developed by SMES. 66 The bulk of proposed
policy actions have a medium or low impact and can be implemented relatively easily (medium effort).
Table 6 Tactical investment projects As a final remark, it is important to note that the true impact will only be realised
the connection of smaller enterprises to the digital market (e g. for tourism, automotive, construction, healthcare, etc.
Create a digital entrepreneurial culture (6) Erasmus for young entrepreneurs Promote an initiative to encourage exchanges and‘new business ventures'between young and digitally-minded entrepreneurs and existing enterprises in any other sector.
and enhance investments (15) Implementation of the European Intellectual Property framework Accelerate the implementation of the European Intellectual Property framework,
16) Harmonisation of crowdfunding policies Harmonisation of the single market with regards to crowdfunding by listing various national crowdfunding policy frameworks and providing an overarching European policy structure in order to harmonise
Boost digitally powered Single Market (17) Monitor the evolution of digital entrepreneurship Establish a digital entrepreneurship scorecard and monitor the evolution of digital entrepreneurship across Member States:
perceptions and aspirations towards digital entrepreneurship, the quantity and quality of digital and e-leadership skills, entrepreneurial talent, access to finance, etc.
Member States and in the private sector to foster digital entrepreneurship and do business in the digital age.
but also open up opportunities for new companies in new industries. With a European economy, consisting of more than 60%of traditional, service-orientated companies
there is a huge potential to be leveraged. The future of doing business in the digital age will mainly depend on the outlook of both digital progress and the European business climate.
This study focused on the impact of ICT developments in the global business landscape taking into account the specifics of European industry dominated by small and medium enterprises.
Governments and policy makers are beginning to recognise the important role of digital in the economy
and efforts are being made to foster digital entrepreneurship. However, despite these efforts, there are still many barriers
when establishing the policy background for digital entrepreneurship. These barriers have been identified according to five different pillars:
Difficult access to finance and investments; Fragmented digital market. 68 To turn ambitions from vision to reality,
and a business environment designed for the analogue era. In this study, for each of the problem areas, objectives have been defined and a list of potential policy options developed.
'‘strategic investment and‘tactical investments'projects were identified. Embedding digital innovators in existing industry clusters launching awareness campaigns on digital entrepreneurship, the use of open data, promotion of existing financial instruments and leveraging the national Points of Single Contact are classified as‘quick win'projects.
It is important to take into account that the real impact will only be realised when delivering a set of all projects together.
In general, policy actions related to the promotion of an entrepreneurship culture have estimated the highest impact. As the process of digitisation evolves and matures,
69 Contacts Vincent Fosty Deloitte Consulting Partner vfosty@deloitte. com Dana Eleftheriadou DG Enterprise and Industry Policy Officer iordana.
Entrepreneurship 2020 Action Plan: reigniting the entrepreneurial spirit in Europe-COM (2012) 750. Annual Growth Survey 2013-COM (2012) 669.
A Framework for European Crowdfunding-Empirica Gmbh & IDC Government Insights (2013. e-Skills for Competitiveness and Innovation:
Entrepreneurship 2020 Action Plan. Reigniting the entrepreneurial spirit in Europe-European commission (2013. European Semester 2013 Thematic Fiche-Digital Agenda:
Green paper on long-term financing of the European economy-European commission (2013. Strengthening the environment for Web entrepreneurs in the EU-European commission (2012.
A Stronger European Industry for Growth and Economic Recovery. Industrial Policy Communication Update-European commission (2012.
Exploiting the employment potential of ICTS-European commission (2012. Jobs for Europe: The Employment policy Conference-Sectors with high job creation potential-European commission (2011.
Adapting EU regulation to the needs of micro-enterprises-European commission (2011. Science, technology and innovation in Europe-European commission-DG Enterprise and Industry (2011.
e-Skills for the 21st Century-European commission-DG Enterprise and Industry (2011. SMES'Access to Finance.
Survey 2011-European commission (2010. Entrepreneurship in the EU and beyond-European commission (2010. A Digital Agenda for Europe-European commission (2010.
Europe 2020. A strategy for smart, sustainable and inclusive growth-European commission (2010. An Integrated Industrial Policy for the Globalisation Era.
The crowdfunding industry report-Research and Markets (2011. Gatorade Case study: Using Consumer Segmentation and Social media to Drive Market Growth-Tesco PLC (2012.
New competences and jobs for a greener and smarter economy-OECD (2010. ICT Skills and employment 72 Annex Industry clusters Table 7-Industry clusters in Europe(%of total Member State workforce employed in particular cluster) Source:
. 2%3. 8%2. 1%Knowledge-intensive business services 23.1%35.3%16.8%20.8%16.3%29.4%14.2%24 8%36.4%29.7
%17.7%25.9%24.2 18%18.7%22.1%9. 3%27.4%10.0%30.6%22.5%13.9%11.6%12.9%22.5%19.8%26.4%37.8%Business services
. 5%1. 4%1. 1%0. 1%0. 5%Building fixtures, equipment and services 2. 8%2. 4%2. 7%2
activities required to get the finished product to the customers: warehousing, order fulfilment, transportation and distribution management.
including customer support, repair services, spare parts management, etc. Firm infrastructure: includes general management, legal, finance,
and production and services management. External integration comprises such activities as electronic data interchange, including the electronic transmission of data with business partners, public authorities,
Services Transportation & Logistics Consumer goods Real estate Rental & Leasing Construction Hotel & Restaurants 10 15 20 25 30 35 40 45 50 55 60 Eastern europe Southern Europe Central/Northern europe Benchmarking analysis Please double click on the Figure
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