The U.S. has the perception as the heart of global entrepreneurship, but Europe might soon take the crown. Here’s why.
1- MORE RAPID ADOPTION OF SOFT INFRASTRUCTURE FOR ENTREPRENEURSHIP
The U.S. still tends to be the pioneer in launching entrepreneurship-related vehicles. Take Fab Labs as an example. An initiative of MIT, Fab Labs aim to “provide access to the tools, the knowledge, and the financial means to educate, innovate, and invent using technology and digital fabrication to allow anyone to make (almost) anything, and thereby creating opportunities to improve lives and livelihoods around the world.” Fab Labs are maker spaces available to the community, which contain 3-D printers, lasers, and other tools to tinker and develop local products. Despite being founded by a premier U.S.-based academic institution, there are 115 Fab Labs in the U.S. and nearly 300 in Europe. Similarly, coworking spaces have blossomed in European cities. Barcelona alone has more than 300 such spaces. The U.S. city closest in population size to Barcelona is Philadelphia, which, according to my research, has only a dozen or so coworking facilities.