The European Commission has just launched, together with ITC stakeholders, a new startup initiative called Watify. The goal of the initiative is to promote digital entrepreneurship in Europe by helping remove some of the obstacles that prevent Europeans from turning great business ideas into reality.
The number of people engaged in a new business in Europe currently languishes at 6 percent of total population, compared to 13 percent in the US. The EC estimates that 1.5 million additional jobs would be created in the EU Internet Economy if the EU as a whole were to match the entrepreneurship performance of the US or Sweden.
The platform also aims to help established companies in all industry sectors to encourage them to transform their business using digital technologies.
The Watify initiative will be run through Europe for two years. Visit it here.