Landmark digital declaration sparks called to reduce starting regulation

A coalition of new European companies has urged the rapid action to reduce EU shame after a Reference declaration Of Group D9+ of digitally advanced nations.

The statement emphasized the need to “eliminate barriers” and “simplify EU rules and procedures.” Ministers of the 13 countries of D9+ – Belgium, Czech Republic, Denmark, Estonia, Finland, Ireland, Luxembourg, Netherlands, Poland, Portugal, Slovenia, Spain and Sweden – signed the statement.

They emphasized the need for a “revised digital rules book” that is “deregulated when possible” and “avoids unnecessary bureaucracy.”

A start group has asked ministers to support their words with actions. He S9+ coalition “Founded to give the startups a voice on the political agenda of D9+-Advirt that” excessive and fragmented regulation of Europe has become a self-imposed barrier.

“If this statement is important, the next step is clear: the D9+ countries must push their colleagues in the [European] Tip to simplify, harmonize and reduce the burden of EU digital regulation, and to make Europe more attractive to investment in innovation, ”Peter Kofler, president of Danish entrepreneurs of S9+, told TNW.

The S9+ argues that new companies are the basis of economic growth. The claim is based on solid terrain. According to Dealomroom.co, only 0.01% of companies create 34% of all economic value, and they all begin as new companies.

Europe, however, has fought to make promising companies into large companies. Not a single EU company started from scratch in the last 50 years has a market capitalization of more than € 100 billion. In the same period, the six US companies were created with an assessment above € 1 billion.

Hopes and fears for new EU companies

In recent years, Europe has remained more behind the United States in productivity and has suffered most global technological income. The main new companies on the continent now often look abroad on a scale. Between 2008 and 2021, almost 30% of the new European companies valued at more than $ 1 billion relocated Your headquarters abroad. The vast majority moved to the United States.

Many of his problems in Europe are attributed to suffocating regulation. GDPR, for example, cost small businesses more than 12% of their profits, according Estimates of three economists from the University of Oxford.

In A statement On his own, the S9+ warned that “Europe cannot regulate its exit from stagnation.”

The statement proposes concrete actions to address the problem. Among its recommendations they are rapidly implemented Regime 28 -A single set of rules proposed for the entire EU, and which provides friendly areas with technology, with “regulatory” sandboxes together with a gradual increase in regulatory requirements.

AI regulation is a particular concern for S9+. The coalition urged the EU to develop a regulatory framework that foster the innovation of AI while guaranteeing fair and open data access. The new compliance frames, the S9+ stressed, must be restricted to what is “absolutely necessary”, and only introduced after consulting the new companies.

The S9+ also emphasized the need to focus on emerging companies, instead of prioritizing the demands of traditional industry giants.

“New companies are not asking for special treatment,” Kofler said. “We are asking for a level playing field: to access capital, data, infrastructure and markets. If Europe wants to close its 800 billion euros The investment gap will not happen by giving old subsidies to the old players. It will happen unleashing the capital and the ideas that new companies already bring. ”

The new European companies are the beats of the beats of TNW conferencewhich takes place from June 19 to 20 in Amsterdam. Tickets for the event are Now for sale. Use the TNWXmedia2025 code at the output to get a 30% discount on the price.