As the European Commission hosted a weeklong series of events across the continent for Startup Europe Week last week, buzzwords like innovation, disruption, and unicorns were in full swing. But the same was not the case for 'corporations'.
The world’s top corporations (of Fortune’s 2015 Global 500, 160 were European firms) are often denounced for their lack of innovation and their inability to think about big-picture disruption.
Many of them now house accelerators (think Unilever's Foundry, Coca Cola's Founders, Telefonica’s Wayra, and Barclays FinTech Accelerator), and some dabble in venture capital, yet generally-speaking, they still lag behind startups in their ability to leverage technology to create out-of-the-box solutions to the problems of tomorrow. Despite this, I believe they are the key to building an entrepreneurial ecosystem in Europe to rival that of Silicon Valley. And you may think I’m crazy for it.
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