Creating a business in one day. EU Startup Nations Standard sets the challenge

We could say it is an instrument that calls the European Union member states to adopt startup-friendly policies. But it’s more – and better – than that. The new “Startup Nations Standard” (SNS) can actually be described as a roadmap of what countries can specifically do to boost startups around Europe.

Eight essential public policy recommendations are included in the document proposed by the European Commission, at the EU Digital Day, last Friday. The SNS foresees, for instance, that the signatory countries must simplify the creation of a startup. Establishing a company, online or offline, within one day for no more than 100€ is the goal.

In addition, all signatories are challenged to accelerate visa processing for tech talent from anywhere in the world, build up easier access to finance, social inclusion and diversification, while always prioritizing the digitization of the economy.

“We need more startups that grow quickly into innovative small and medium-sized enterprises (SMEs) and then eventually scale up to large successful corporations that contribute to the EU’s technological sovereignty and open strategic autonomy. To do so, startups in every corner of the EU need favorable and fair conditions to grow at every stage of their life cycle”, we can read in the file of seven short pages.

So far, 25 European countries have signed the SNS and are thus expected to contribute to foster entrepreneurship and to build a more competitive ecosystem of startups in Europe.

The good news: the European Commission will also launch the new European Startup Nations Alliance, a task force based in Portugal that will not only aim to monitor the compliance of those public policy recommendations but also to reinforce Europe as a reference in what concerns technological innovation.

For SCALE Cities, the Startup Nations Standard is just another opportunity to enhance our role as a network of ‘enablers’ – of growth and a solid ground for a strong startup entrepreneurship environment – in all of our local ecosystems.

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