European cities are
facing considerable challenges
Some challenges are newer than others
COVID-19 Recession
The covid-19 will lead to higher unemployment rates. Those who can least afford to lose their jobs are the ones who`ll be hit the hardest.
Income inequality
This will in all likelihood increase income inequality and poverty, which already is a challenge in many cities.
From unemployed to self-employed
If history is a guide the increase in unemployment will lead to more necessity entrepreneurship. It is vital that the right policies are put in place, so that as many of the new entrepreneurs can succeed.
These challenges can be solved with implementing create effective labour and innovation policies based on data and best practice. For many unemployed people, especially migrants, entrepreneurship will be the way out. Supporting founders can lead to higher labour participation, stronger economic growth, lower crime rates and social costs. With informed decisions cities will thrive.
Our recipe for succesful cities
Does your city have a proper talent pipeline?
Through our case studies we have found that cities that succeed in fostering entrepreneurship, and in the past have had a strong increase in employment, have a coherent talent pipeline. We are the first in Europe to have developed and tested a model for a talent pipeline for successful cities.
A systemic approach for discovering entrepreneurial talent
- Schools
- Job centers
- Universities
A system for verifying and matching talents with private sector
- Technology transfer office
- Welcome Centers
- NGOs
Proper follow-up of talents in the form of mentorship and capital
- Business Chambers
- Incubators
- Mentors
Most cities have parts of this model in place. However, they lack one crucial part, or do not have efficient and clear information flowing between the key players in the ecosystem.