We simply have got to improve here. The European Institutions have developed a range of supporting financial instruments to facilitate early stage and venture capital financing, like I-TEC, EIF, EIB funding etc. Because these barriers span all their competences. The Member States are responsible for their taxation systems of debt and equity. For start up tax incentives or the taxation of stock options, so important for spreading participation.
Educators have a key role to encourage more creative thinking throughout the education system.
Indeed, I am working with President Prodi to prepare an Information Society initiative, which will be unveiled at the Helsinki European Council in December. I particularly stress this because these technologies offer the EU a unique opportunity to build an entrepreneurial Europe. They open up, at extraordinary low cost, the opportunity to trade in the global market. In a knowledge economy, they break down the barriers of distance from market, enhance price transparency and competition. I use these examples to drive home the point that creating an entrepreneurial Europe means a collective effort.