Saturday, April 25, 2015

The ultimate master list of revenue models used by Web and Mobile companies

Abhash Kumar

Think of internet companies. Now think of the number of these companies and their services that you use on a daily basis. Google, Facebook, Twitter, LinkedIn, Quora, Wikipedia would generally pop up in your head. There is a treasure trove of information available to us, almost instantly these days. Apart from access to this information, one can set up a website for free on WordPress or blogger, download free mobile apps on iTunes and Google Play Store, watch videos for free on YouTube, and post free classified ads on sites like Quikr and Craigslist.
Can you answer? Read through and you'll be able to.
Can you answer? Read through and you’ll be able to.
While some of these services come for free, it is no secret that most of them are turning huge profits. But where does this money come from? Advertising comes to the mind immediately when you think of revenue models. And yes, advertising is the major revenue source for many of them. But there are several other models as well. Here we have compiled a comprehensive list of all these revenue models just for you.
1. Advertising
One of the oldest money-making sources, this model is under constant evolution. With the general internet population having access to ad-blocking tools, the industry has gone on to employ complex and creative methods to stay relevant.
  • Display Ads – e.g. Yahoo!
  • Search Ads – e.g. Google
  • Text Ads – e.g. Google, Facebook
  • Video Ads – e.g.  YouTube
  • Audio Ads – e.g. Saavn
  • Promoted Content – e.g.  Twitter, Facebook
  • Paid content promotion
  • Recruitment Ads – e.g.  LinkedIn
  • Classifieds – e.g.  JustDial, Quikr
  • Featured listings – e.g. Zomato, CommonFloor
  • Email Ads – e.g. Yahoo!, Google
  • Location-based offers – e.g.  Foursquare

2. Freemium model
Perhaps the most common model used by Web services. The idea here is to sell a basic free product to as many customers as possible, but keep the premium features exclusively for paying customers. A large number of SaaS products use this model.  For instance, Dropbox offers 2GB of free cloud data storage. But if one wants more space, one has to pay up.
Dropbox_Freemium_Screenshot_YS
Dropbox’s purchase plans
Other examples include Adobe Flash, Evernote, Google Docs/Drive, LinkedIn, Prezi, Slideshare, Skype, WordPress, and many mobile games like Farmville, Angry Birds etc.

3. E-commerce
The traditional world of retail comprising of malls and high street stores changed forever in the 90s when companies like Amazon emerged. Because they could save on expensive real estate costs, the prices offered on these stores were significantly lower.
ecommerce
Selling through e-commerce can include:
  • Retailing – e.g. Myntra
  • Marketplace – e.g. Snapdeal
  • Sharing Economy – AirBnB
  • Aggregators – e.g Taxi for Sure
  • Group buying – e.g. Groupon
  • Digital goods / downloads – e.g. iTunes
  • Virtual goods – e.g. Zynga
  • Training – e.g. Coursera, SimpliLearn
  • Pay what you want – e.g. Instamojo (optional)
  • Auction commerce – e.g. eBay
  • Crowdsourced Services – e.g. Elance, oDesk

4. Affiliate Marketing
Mostly followed by high-traffic blogs, this is a model wherein the publisher signs up for affiliate programs related to their service/content and convert their users to customers of their affiliates/advertisers.
In most cases this involves a publisher earning a commission when a user follows a link on their blog to another site and this converts into the user buying something at the affiliate site.
A recent example is several well-known bloggers pushing out MotoG reviews and then linking to the Flipkart exclusive sale site for commissions.
5. Subscription Model
Newspapers, Gym, Magazines – yes, all of them use a subscription model. So, it has been existent since long.
In the digital domain, software, which was once dominated by the licensing model, is slowly moving towards a subscription model. Generally, unlimited usage is offered, but a few have a specified cap above which they charge a higher rate.
NYtimes_Subscription
The different sub-models are:
  • Software as a Service (SaaS) – e.g. Freshdesk
  • Service as a Service – e.g. PayU
  • Content as a Service
  • Infrastructure/Platform as a service – e.g. AWS, Azure
  • Membership Services – e.g. Amazon Prime
  • Support and Maintenance – e.g. Red Hat
  • Paywall – e.g. ft.com, NYtimes
6. Licensing
Very common among software companies, this model is however losing its sheen due to the emerging trend of SaaS subscription models.
Licensing could be for usage, which is the model for Intellectual Property (patents, copyrights, trademarks). This type of license is usually limited by time, territory, types of products, volume, etc. The other kind is for certification, like the McAfee SECURE trustmarks used for Internet websites.
  • Per Device/Server License – e.g. Microsoft products
  • Per Application instance – e.g. Adobe Photoshop
  • Per Site License – e.g. Private cloud on internal infrastructure
  • Patent Licensing – e.g. Qualcomm
7. Selling Data
Have you heard the phrase, ‘If you are not paying for the product, you are not the customer, you are the product being sold.’
High-quality, exclusive data is very valuable in the digital age. Many companies specialize in lead generation of potential customers and sell them to third parties.
You don’t pay for services like Google, Twitter and Facebook. But they aggregate high quantities of data about you and several millions like you and show you contextual advertisements based on this data. Which is why ‘you are not the customer, you are the product being sold.’
  • User data – e.g. LinkedIn
  • Search Data – e.g. Google
  • Benchmarking services – e.g. Comscore
  • Market research – e.g. MarketsandMarkets
    wikipedia-donation_YS
    The famous annual appeal from Jimmy Wales
8. Sponsorship/Donations
Many services are sponsored by government organizations and major funds if it directly helps them or the world at large, for example, Khan Academy is funded by the Gates Foundation and Google.
Then there is the Wikipedia model where the users are asked to willingly donate small to large amounts of donation to help support the initiative. Many browser extensions and WordPress plugins etc. also follow this route.
9. Build to sell (to Google, Facebook and others)
candy_crush_inapp_purchase
In-app purchase in a game
This might be counterintuitive and not the best of ‘revenue models’ because there is no revenue involved. But many companies have built traction over time and never worried about how they are going to make money, and have finally sold for big bucks to the internet giants, for example, Instagram, Pinterest.
Mobile and Gaming Revenue Models
  • Paid App Downloads – e.g. WhatsApp
  • In-app purchases – e.g. Candy Crush Saga, Temple Run
  • In-app subscriptions – e.g. NY Times app
  • Advertising – e.g. Flurry
  • Transactions – e.g. Airtel Money
  • Freemium – e.g. Zynga
  • Subscription — e.g. World of Warcraft
  • Premium – e.g. xBox games
  • Downloadable Content – e.g. Call of Duty
  • Ad-supported
Ok, so we asked you a question in the very first image. Can you now figure out the revenue model of all the nine companies depicted in the image? Tell us in the comments. Remember, there can be more than one revenue model. 
Is there anything else you will want to add to this list? Please send it across. We are waiting to hear from you. 
Thank you for reading another one of my posts done just for you!  If you liked what you read please share it by using one of the buttons up top and check out other posts in this blog.  I don’t want you to miss out on future posts so please follow me on Twitter @Eurodude23.  If you haven’t done it already, please like my fan page by clicking here!  See you next time!

This is a repost of an article that appeared on http://yourstory.com/ on March 20, 2014

Thursday, April 23, 2015

Why Startups don't Network within the V4 and How to Change It

Sara Koślińska





The general tendency of the V4 countries and the rest of CEE is to look to Western Europe and the United States rather than to neighboring countries for models of change and development. This holds true for technology startups. Participants in this ecosystem do not yet see much value in collaborating with the other V4 countries and have not yet developed the necessary links between local communities at a level necessary for building a real network.




Is there anything in the CEE that could stop startups from only looking to the West and instead looking to their neighboring countries? I believe in the potential of the region and in the benefits of cooperating with neighbors for a number of reasons:

1. Building a network of professionals with different areas of expertise would enable the easier flow of knowledge and exchange of skills, resulting in the strengthening of startups’ competitiveness.

2. Getting startup teams acquainted and involved with each other would help in building business ventures of regional or global potential, rather than duplicating business ideas and introducing them for local markets only.

3. As countries vary in their development of different sectors and specialization of their investment sectors and acceleration programs, closer cooperation would increase the chances of getting better investment conditions for startups – not necessarily in terms of numbers, but also regarding the expertise of investors.

4. Cultural, historic, and linguistic similarities make the mentality in countries of the region significantly more similar to each other than any are in Western countries. As a result, the kinds of issues we are facing are similar, and thus an exchange of experiences and ideas would make it easier for all of us to overcome different kinds of barriers and obstacles: political, economic, educational, legal, and financial.



I recently decided to share the question of what is needed to strengthen networking and collaboration among startups of the region via a few Facebook groups related to startups in CEE. Unsurprisingly, one of the answers I got was: “Co-ordinated action between government, financial institutions, and business is a must […] But then again no big guys can have the same impact as a startup ecosystem’s influencers – people who organize formal and informal events like Startup Weekend, Silicon Drinkabout, etc. […] And, finally, there’s the national brand. All sides must invest quite a lot of time and money in attracting foreign capital and talent.” This response came from Dimitar Nikolov from Bulgaria, a co-founder of Clusterize, but is definitely applicable to other CEE countries and the region as a whole.

Another answer I got was from Anca Albu, founder of the social enterprise CEE Changers, originally from Romania: “[…] it has more to do with how they [CEE countries] view themselves and their neighbors, as a whole post-communist region […] they have no role models to follow. […] CEE looks towards London and SV, London looks towards SV … it is a geographical directional pattern that affects us all, and I think it would be a lot more helpful if we tried to figure out our own identity, rather than look up to one that was born thirty years ago.”



It was apparent to me from this and other answers that the most pressing needs of the community are creating the role model of founders by encouraging successful entrepreneurs to share their experiences, promoting countries of the region as great potential for investment, and, most importantly, creating an entity that could coordinate startup-related activities by different players across the region. For now, there is no close cooperation between national and local ecosystems, rather, just a loose assembly of connections between certain countries and influencers.

Earlier this year, I wrote an article entitled, “The 10 Main Challenges of the CEE Startup Ecosystem.” My most important conclusions were that there is a major need for a single, region-wide entity that would have decisive impact on the communities across the V4 and the whole CEE area by strengthening transnational collaboration between startups, linking ideas with capital and ideas with knowledge, and acting as a representative to the European and national parliaments.

Let’s identify what a few of the main duties of such an entity would be:

- promoting local and national events in the other countries of the region and outside the region, while minimalizing the chances of duplicating event formats

- connecting startups with capital across the region, given the differences in the development of startups from different areas and VCs with different investment profiles

- clearly and coherently promoting the region as investor-friendly, in accordance with a consolidated promotion strategy

- connecting startups with mentors from specific sectors across the region

- promoting successful founders and examples to give startups role models

- connecting individuals with similar business ideas with each other in order to build regional and global players

- communicating the specific needs of the tech community both as a whole and locally to the European and national parliaments

- connecting influencers with each other, so they can share their ideas, their experiences handling different issues, and tips on how to deal with government, as well as predictions about the ecosystem’s evolution in the coming years.



The form this entity should take is yet another issue. Although there are cases of successful public initiatives, such as those introduced by the EU’s Digital Agenda, I would opt for a private one, as it would allow much more flexibility, more prompt paths to change, and would ensure that the solutions introduced would indeed be necessary.

Next, it is important to discuss whether the private entity should be one company or a network of existing companies. In addition, should it be subsidized by public money – either national or European – or be fully independent, either supporting its initiatives with crowdfunding or generating profit otherwise?



To sum up, influencers have started realizing the potential for cooperation between startup ecosystems within the region. They also agree that an entity that would coordinate activities in the region is needed. While its legal form, responsibilities, methods, and financing must be discussed further, one may be sure that there is growing belief in a startup society, that taking actions in this matter is vital to the growth of startups in the region and as a result, to economic growth.

The details relating to the creation of this entity and the requirements it must meet to be fully efficient remain elusive, but the first step has already been taken – discussion is taking place among influencers.

Thank you for reading another one of my posts done just for you!  If you liked what you read please share it by using one of the buttons up top and check out other posts in this blog.  I don’t want you to miss out on future posts so please follow me on Twitter @Eurodude23.  If you haven’t done it already, please like my fan page by clicking here!  See you next time!

This is a repost of an article that appeared on http://visegradinsight.eu/ on March 30, 2015

Monday, April 20, 2015

StartupBootcamp in collaboration with Mission ToRun Wants To Accelerate Polish Fintech Startups

Paul Chen



Torun is a moderately sized city of around 250,000 people in central northern Poland, known to Poles for its lovely gingerbread.  Torun is a UNESCO heritage city (like Warsaw and Krakow) which are also on the River Vistula and boasts a 500 year innovation heritage thanks to its most famous citizen, the polyglot astronomer Copernicus who was born there. Heliocentricity rocked the world’s belief system as long ago as 1543...


Torun is also the site of a budding startup ecosystem.  We will be talking to Patrick L Young.  Along with his wife, Beata, they launched the initiative Mission ToRun two years ago in an effort to help the local community get to the next level.  Later this spring, they will be involved in StartupBootcamp Fintech FastTrack in Warsaw.


Welcome Mr. Young.  Please tell the readers a little about yourself.

Thank you Paul, I have been an entrepreneur since my teens, originally running motor races for old cars in my native Ireland. For many years I have been a specialist in finance and I have done a lot at the intersection of the future of finance and technology - including some 21 years of web e-commerce through multiple activities. That said I have also been involved in media, horeca and multiple other sectors over the years while my travels have taken me all over the world. Beyond my core entrepreneurial activities, I am an active investor as well mentor/board member and adviser.



One of my most recent startups, Exchange Invest (Http://ExchangeInvest.com) has become the ‘must read’ daily publication in financial market infrastructure. It’s on target for the equivalent of a million Zloty revenue after nearly 2 years which is pleasing for what started life as a sideline for our advisory practice.


My wife, Beata, is a serial entrepreneur who created the IgersTorun community and runs the local Geek Girls Carrots Group. Together we run HanzaTrade (Http://HanzaTrade.com), a community crowdfunding platform while Beata operates her own businesses including the tech-oriented Hanza Cafe (Http://HanzaCafe.com).





What made you want to start Mission ToRun?  And please give us an introduction to the initiative.


Mission ToRun was inspired originally by the “Open Coffee” initiative and has grown from there. Kujawsko-Pomorskie is under 60% of the EU GDP average, it has a massive talent pool from universities but a paucity of opportunity. Local entrepreneur Maciej Mikulski made the suggestion and Beata and I took up the cudgels of trying to create a more entrepreneurial culture in Torun and the region.


We are a grassroots movement seeking to help startups and small business in any sector, to develop and prosper, using our global network and extensive expertise.


Our monthly meetings have involved speakers from all over the world discussing all manner of facets of startups and entrepreneurship - please view our videos on the Mission ToRun YouTube channel.

You could have chosen Warsaw or Poznan, why Torun?


Beata is from Torun, so we had bought property here and have been investing in different activities for some time. I like a challenge having been involved in other ventures developing financial centres and other clusters elsewhere in the world. Torun ,the geographic epicentre of Europe according to some estimates,  is a remarkable city with an incredible history, and, I feel an even more interesting future… We started Mission ToRun as our contribution to helping build the Polish economy - it seemed a better idea than creating a pure NGO charity. Here we can use our business experience to help fuel growth.

What are some things that really surprise you about the ecosystem?


We have been let down by some rather unreliable folks who have arrived into the ecosystem recently. Their claims of wanting to help actually masked a desire to push everybody else out, whether through stifling debate, stealing speakers or copying ideas. However, imitation is the greatest form of flattery and despite their having considerable EU funds at their disposal, it is rather amusing to watch their relative inability to actually innovate - but then being a follower is easier than leading the ecosystem forward.

However, the best surprises have been positive - discovering great talent in various sectors including businesses and ideas with significant potential. We are proud to have the patronage of the Mayor of Torun amongst other recognitions of our work helping to create economic growth in the area.


Now our aims are to continue leveraging our experience and network of contacts to help add value to the startup community.


I understand you also do something called a business clinic. What is that?





The Mission ToRun Business Clinic is a simple methodology we have developed to complement our grassroots ethos. The Clinic takes place over an afternoon and is a chance to have a road test for an idea or for those with plans, or an operating business, to garner feedback with a series of experts in one on one sessions. To date clinics have taken place in our startup centre, Hanza Cafe, which also offers informal coworking space in the heart of the old city.


However, we have had so much interest in the Clinic process that we will be exporting the concept next year. I can’t say where yet but we have been approached by various cities and indeed one of the world’s most famous universities.


The Business Clinic works smoothly with the Mission ToRun philosophy of helping from the grassroots in a positive, “win win” fashion. Business is hard work but it doesn’t have to be an endless competition between relative ideas. We want everybody to succeed.


The Business Clinic concept has involved visitors from all over Poland (last weekend’s event included a great startup from Krakow) while on Hangouts we have had startups access our advisor/mentor pool from places as far afield as the UK, the Netherlands, Russia, Armenia and last weekend, Pakistan.

With the rise of Bitcoin, crypto-currency is a very hot topic right now, is it worth all the hype?


Yes. Bitcoin itself may prove to be the Model T Ford of cryptocurrency - i.e. the enabler which helped develop the infrastructure but was eventually outpaced by better designs. However the future for digital money is enormous. I have been discussing electronic currency even since before I featured it in my bestselling book, Capital Market Revolution! in 1999. That was long before the genius invention of the Blockchain but it was clear even then that electronic currency will be a key future component for trade and investment.


Or, to put it another way, Bitcoin is the cash equivalent to helio-centricity - the Copernican Revolution in money...





How did Mission ToRun get involved with the Fintech Fasttrack?


Having been involved in Fintech since long before it was trendy, in Europe, bi-coastally in the US, and in Asia, I have gained a fairly significant Rolodex driven from a lot of travel!


I know the StartUP BootCamp FinTech team through being a mentor on the programme and hence it made sense for Mission ToRun to co-promote the FastTrack event May 19th in Warsaw, where we have 10 slots for pitches and mentoring from a team including myself and several other knowledgeable players such as Jacek Adamski of Lewiatan Business Angels and Dermot Corr, the dynamic founder of TechSaturdays in Wroclaw. Last year, Friendly Score from Wroclaw made it to the Accelerator programme and I hope we can find another great Polish startup to get to London during the summer.


What is FastTrack looking for in a Fintech startup?


A good scaleable idea which can help create a solution to one of the many legacy problems in finance and help move digital markets forwards.



What will the winning startups get?


A place on an intensive accelerator programme in the heart of the City of London’s financial district, just beside the iconic Tower Bridge. It’s a great chance to meet a huge range of financiers, as investors and mentors as well as receiving 15000 Euros in cash, 3 months free office space and a vast quantity (450K Euros or more) of partner services...




How does a startup apply?


More information including application forms can be found here: http://www.startupbootcamp.org/events/sbc-fintech-warsaw-fasttrack.html


Potential entrants are also welcome to contact us at Mission ToRun if they have any queries - we are Http://MissionToRun.org or you can find us via Facebook and Twitter.


Meanwhile, any startups in any sector can always get in touch about our Business Clinics and our regular monthly meetings, as well as other events. Our HQ is within Hanza Cafe, Piekary 28 in the heart of the old town.




Thank you Mr. Young for your time.  I would recommend our readers go to Torun and pay Mission ToRun a visit.


Thank you for reading another one of my posts written just for you!  If you liked what you read please share it by using one of the buttons up top and check out other posts in this blog.  I don’t want you to miss out on future posts so please follow me on Twitter @Eurodude23.  If you haven’t done it already, please like my fan page by clicking here!  See you next time!

Sunday, April 19, 2015

The European Digital Single Market: An outsider's Proposal

Paul Chen



Recently, there has been a lot of shouting and complaining by European startup communities and VCs about the lack of so-called European unicorns whereas Silicon Valley, and now China has been turning them out in quantities.  In order to understand the current European situation, one needs to step back and see the whole picture.

"I come from Europe. That is where the history is from" Eddie Izzard

For the last couple thousand years, Europe has been the location of many significant activities.  However, they fail to recognize that there were civilizations that thrived before it.  The Chinese, the Persians, the Egyptians, and the Native Americans.  Because people tend to be short sighted, especially with the emergence of get-it-now technology, and the 24 hour news cycle, Europeans and their American descendants see things only when they are relavant.  



For the last couple of thousands of years, Europeans has been fighting over the small piece of real estate between the Mediterranean and the Arctic Ocean.  So every little piece of something becomes ever more important to them.  The age of colonialism just inflated the European even more.  However, in the 20th Century when all the colonies declared or gained their independence, Europe is left to fight over the same piece of territory, bound by borders.  However, in America, there is an idea of Manifest Destiny, meaning whatever unclaimed territory is ours.  

And because Europeans have been fighting their neighbors for centuries, certain hostile ideas of people around them took hold of their psyches.  And religion only made it worse.  Because of this, people in Europe hold dear to their traditions and language as it is the only thing that distinguishes them from others.  Because of the period of English colonialism and its dynamic nature, the English language has become the lingua franca of the international community.  When a startup is founded in any of the English speaking countries, they automatically have global access.  Additionally, because of the global reach of American pop culture, America is already the global taste maker.  Companies who want to gain street cred go to either NYSE or NASDAQ to do their IPO, not the Warsaw stock exchange.  In China and Taiwan, they have access to over a billion customers in addition to South East Asia.  Furthermore, Chinese entrepreneurs are becoming millionaires.  As a result they are buying up properties in America and Europe.  It is this volume that puts startups like Alibaba and Xiaomi from China in the rear view mirror of Silicon Valley.  



Recent history isn't much better.  The riots of Paris, Charlie Hebdo, Pegida, and the Polish Princes prove that there are lots of issues between white Europeans and their less white immigrants.  In America, we are made up of immigrants, so it is the national interest to integrate them and help them succeed.   Many of the unicorns like Google, Yahoo, and YouTube are founded by immigrants or descendants of immigrants. Yahoo and YouTube are partly founded by Taiwanese immigrants. 

My Proposals:

Currently, there are some issues in the European digital community. 

1. Getting stuff done - European institutions tend to be too academic, relying too much on theory and case studies, rather than logic and what is practical.  As a result, they end up spending too much time in the lab rather than talking to customers.

2. There are more than one way to skin a cat - Because of the fighting over same piece of land history, the European system is too compartmental.  Everything has one one solution, and every solution can only solve one problem.  Transferable skills are often overlooked when HR departments and Staffing firms does recruitment. One of the beauties of the current hack-culture is that they really show that sometimes the unconventional beats out the conservatives. 



3. With over 28 languages, doing business can be quite difficult, especially when the two potential business partners don't have a sufficient level of each other's language. Therefore, it is important that English be made the common operating language.  Northern Europeans don't usually have problems, however the Club Med countries, the Balkans, and the CEE countries need to up their English game.  Plugging your native language content into Google Translate does not cut it.

4. In the last week, the EU accused Google of some unfair practices in ranking their results when people are shopping.  I believe that yes, firms like Google and Amazon has a big share of the e-commerce market.  However, rather than fighting them, a better approach would be to work with them and learn from them and try to create a more Euro-centric model.  Or you can try to build a better mouse trap.



5. There is a question of regulation.  The whole point of the digital single market is the removal of geographic barriers in the internet so e-commerce will not be restricted inside national borders. I am for Net-Neutrality.  I believe Brad Feld's idea of having the government build the infrastructures to help the entrepreneurs succeed, but get out of the way after that.  Regulations should be used to prevent damage to society, the environment, and systemic economic melt-down.  I do agree that private personal data should be protected. Ok, maybe just a dash of unfair market practices.

6. One of the biggest barriers to growth in Europe are the taxes.  This one of life's certainties should not be the main barrier to growth, it should be the lack of the team to execute.  Granted, one needs to pay for governmental services like the police and the fire brigade to keep their businesses safe.  Perhaps a grace period, or link it to revenue.



7. Another barrier to actually starting a business or staying in business is city hall.  When you have to go to city hall every time you want to start or enter a new market, you might feel, why bother?  I will just stay in my corporate job.  A single and uniform EU one time application process should take the headaches out and let the entrepreneur focus on actually building the business.

8.  The current startup structure isn't exactly conducive to personal growth of the team.  What usually happens is that a dude would be on some soapbox dropping knowledge, and the rest of the "students" would be like yes master. This vertical structure is great for the mentor's egos, but not so good for the teams.  There should be more of a startup-centric horizontal approach. Unless the idea is completely invalid, the more experienced person should be like, "what is your problem, where do you want to go and let's find a way to get there together." 



9. One of the reasons that Silicon Valley VCs don't take European startups who has gotten EU funding seriously is the lack of accountability that the EU funds comes with.  Valley VCs feel that the EU funded startup either did it for the money or because it is in fashion.  Eu funding should come with at least some strings.  Another money waster is the way funds are distributed.   There are organizations which I like to call the EU Fund black holes.  These organizations will take a large amount of EU funds and under the guise of entrepreneurship and startups, give training, provide co-working space which startups have to pay for, and give some funds.  Most of the EU funds end up in administrative costs and not on helping the actual entrepreneur grow his/her business.   

10. I saved the most important for last.  Education! There should be a education revolution. In the European education system today, too much attention is paid to learning and memorizing facts and figures.  Too much theory learning.  Everyone knows that most of your education goes out the door the moment you start working.  Students should be encouraged to go into STEM fields and the stigma of doing those geeky programming subjects should be removed.  More attention should be paid to problem solving, critical thinking, finding connections, and how to behave in polite society(soft skills).  More posts about education is on the way.



People complain all the time, but very few actually offer a solution. Please let me know what you think.   




Thank you for reading another one of my posts written just for you!  If you liked what you read please share it by using one of the buttons up top and check out other posts in this blog.  I don’t want you to miss out on future posts so please follow me on Twitter @Eurodude23.  If you haven’t done it already, please like my fan page by clicking here!  See you next time!