Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.More than 120 European tech founders \u2014 including the leaders of Shopify, Klarna and Mistral \u2014 are joining forces to mentor and invest in entrepreneurs\u00a0as young as 18, as part of an effort to fight back against the Trump administration\u2019s attacks on Europe\u2019s competitiveness.\u00a0Harry Stebbings, the London-based podcaster-turned-venture capitalist, is spearheading Project Europe, a new \u20ac10mn fund that will offer \u20ac200,000 to 18-25 year olds to build tech start-ups. The scheme is designed to combat what Stebbings called a \u201cdoom loop\u201d in Europe that is causing a \u201cbrain drain\u201d of top talent to the US.\u00a0\u201cThe world has made up its mind that Europe is not a place of innovation. That is wrong,\u201d said Stebbings, whose firm 20VC raised a $400mn fund last year. \u201cThere is a doom loop around Europe and we need to change that. The brain drain to the US is very real and it\u2019s going to really damage the future of Europe unless something changes.\u201d Project Europe is the latest effort to galvanise European entrepreneurship at a time when many investors in the region are worried that the US and China are outpacing its start-ups, especially in artificial intelligence. Last October, dozens of European founders including Patrick Collison of Stripe and Ilkka Paananen of Supercell launched EU Inc, to lobby for streamlined and standardised investments and business operations across EU member states. Venture firms 20VC, Point Nine and Adjacent are contributing capital to Project Europe alongside more than 125 founders, including Tobias Lutke of Shopify, Sebastian Siemiatkowski of Klarna and Niklas \u00d6stberg of Delivery Hero, who will also be available to mentor recipients of the funding. \u201cBringing together more than 100 of Europe\u2019s top founders under one mission highlights the power and impact of Project Europe in shaping the next generation,\u201d said Siemiatkowski. \u201cWe\u2019re here to back young talent tackling the toughest technical challenges \u2014 with capital, mentorship and infrastructure.\u201dOther backers include Thomas Plantenga, chief executive of second-hand marketplace Vinted, Thomas Dohmke, chief executive of Microsoft-owned software development site GitHub and Alex Chesterman, founder of Zoopla and Cazoo, as well as founders at AI start-ups Mistral, Huggingface and Synthesia. Data from venture firm Atomico\u2019s most recent State of European Tech report showed that total capital invested in the region\u2019s start-ups increased 10 times between 2015 and 2024 compared with the previous decade, reaching $45bn last year. However, while public perception of start-ups as a career path has improved after successes such as Spotify, Revolut and ASML, Atomico\u2019s survey found widespread concern that European regulation and bureaucracy were making the region less attractive to founders. At February\u2019s AI Summit in Paris, US vice-president JD Vance warned that \u201coverly precautionary\u201d EU rules were stifling innovation, while Elon Musk has repeatedly attacked the EU and pushed the Trump-inspired slogan \u201cMake Europe Great Again\u201d. \u201cThe macro doesn\u2019t look great but the truth is companies are built in the micro,\u201d said Stebbings. \u201cWe need to change the vibe and be more optimistic.\u201d The new Project Europe scheme resembles US tech investor Peter Thiel\u2019s Fellowship, which pays $100,000 to people aged 22 and under to start companies instead of going to university.\u00a0Unlike the Thiel Fellowship, which takes the form of a grant, Project Europe will take a 6.66 per cent stake in the companies it invests in. \u201cInvestments are treated with much more respect, accountability and consciousness than grants,\u201d Stebbings said. \u201cWhen we think about building the next generation of great European founders, we have to start with youth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.More than 120 European tech founders \u2014 including the leaders of Shopify, Klarna and Mistral \u2014 are joining forces to mentor and invest in entrepreneurs\u00a0as young<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-237481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/237481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=237481"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/237481\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=237481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=237481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=237481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}