I am about to launch a project based in the Ethereum ecosystem which I believe has big (shouldn’t say unicorn, right? :-) ) potential. I have been recently involved in debates about what's missing in my home country (Italy) in order to create a more vibrant startup scene. My answer was: just have a look at how they do it in France!
On top of a well-developed VC/Angel ecosystem, France has a unique, well functioning governmental support system for startups, based on:
- A 3-layer (local, regional, national) project evaluation network which can provide quickly credible entrepreneurs with sizeable funding, even at the pre-seed stage,
- An R&D Tax Credit system which, unlike the Italian one, is RELEVANT to startups, as tax credits are paid in cash to R&D-performing startups which have not yet taxable profits…
- A government-funded, thematic “innovation cluster” system, which offers companies valuable networking opportunities with potential partners and investors (at negligible cost),
- Additional (substantial) support measures for companies willing to open subsidiaries abroad and test new markets.
In 2012 I cofounded a company in France (www.terabee.com ) which greatly benefitted from the above system, so I am talking out of personal experience.
Creating a favourable ecosystem for startups in Italy (or anywhere else in Europe) is not about black magic…Just identify best practices (see e.g. above) and lobby politicians into putting them in their agenda.