The Care And Feeding Of Europe's Startups

It has taken more than a decade, but Europe finally seems on its way to granting small companies the legitimacy they deserve as engines of economic growth. The first time Europe tried to create a nurturing secondary market environment to stimulate the growth of high-tech startups, back in the 1980s, they were poorly conceived and shunned by European banks. This time around, though, Europe's six new stock exchanges have rapidly become a vital pipeline, pumping fresh capital into savvy startups. Many of these small companies have the potential of becoming Europe's biggest employers beyond 2000. It's an important first step. But Europe mustn't stop there.

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