{"id":12643,"date":"2023-03-02T15:10:49","date_gmt":"2023-03-02T15:10:49","guid":{"rendered":"http:\/\/TheNextWeb=1394500"},"modified":"2023-03-02T15:10:49","modified_gmt":"2023-03-02T15:10:49","slug":"to-compete-with-silicon-valley-european-startups-need-their-own-nasdaq","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=12643","title":{"rendered":"To compete with Silicon Valley, European startups need their own Nasdaq"},"content":{"rendered":"\n<p>Why can\u2019t European<span><\/span> tech companies compete with Silicon Valley giants? It\u2019s a perennial conundrum for the continent\u2019s IT leaders \u2014 and one that Phill Robinson is trying to solve.<\/p>\n<p>After a globetrotting career as a tech executive<span>, <\/span>Robinson returned home to the UK and founded <a href=\"https:\/\/www.boardwave.org\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Boardwave<\/a>, a networking platform that wants to make Europe a <a href=\"https:\/\/thenextweb.com\/topic\/software\" target=\"_blank\" rel=\"noopener noreferrer\">software<\/a>&nbsp;superpower.<\/p>\n<p>The concept emerged from Robinson\u2019s diverse background in the sector. The entrepreneur spent decades traversing Europe and Silicon Valley, in roles ranging from CMO of <span>Salesforce.com during its IPO to CEO of Dutch software giant Exact.&nbsp;<\/span><\/p>\n<p>These experiences exposed several advantages for tech firms in the US. Robinson zeroed in on one: the breeding ground for success created by Silicon Valley\u2019s tight-knit community. The small area of land interconnects a multitude of tech whizzes, entrepreneurs, investors, and advisers. In Europe, meanwhile, the business environment is highly fragmented.<\/p>\n<p>To emulate the valley\u2019s network effects, Robinson founded Boardwave. But he also wants the community to lobby for something bigger: a pan-European version of the Nasdaq public market.<\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1394509 js-lazy\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8.webp\" alt=\"Robinson founded Boardwave to create the connections that European software companies need to thrive.\" width=\"1595\" height=\"905\" sizes=\"(max-width: 1595px) 100vw, 1595px\" data-srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8.webp 1595w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-280x159.webp 280w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-238x135.webp 238w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-476x270.webp 476w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-1536x872.webp 1536w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-796x452.webp 796w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-1592x903.webp 1592w\"><figcaption><a href=\"https:\/\/thenextweb.com\/news\/startups-need-pan-european-nasdaq-compete-silicon-valley-big-tech#\" data-url=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Feditorial.thenextweb.com%2Fecosystems%2F2023%2F03%2F02%2Fstartups-need-pan-european-nasdaq-compete-silicon-valley-big-tech%2F&amp;via=thenextweb&amp;related=thenextweb&amp;text=Check out this picture on: Robinson wants Boardwave\u2019s online platform and in-person events to create new connections for European software firms. Credit: Boardwave\" data-title=\"Share Robinson wants Boardwave\u2019s online platform and in-person events to create new connections for European software firms. Credit: Boardwave on Twitter\" data-width=\"685\" data-height=\"500\" class=\"post-image-share popitup\" title=\"Share Robinson wants Boardwave\u2019s online platform and in-person events to create new connections for European software firms. Credit: Boardwave on Twitter\"><i class=\"icon icon--inline icon--twitter--dark\"><\/i><\/a>Robinson wants Boardwave\u2019s online platform and in-person events to create new connections for European software firms. Credit: Boardwave<\/figcaption><noscript><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1394509\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8.webp\" alt=\"Robinson founded Boardwave to create the connections that European software companies need to thrive.\" width=\"1595\" height=\"905\" srcset=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8.webp 1595w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-280x159.webp 280w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-238x135.webp 238w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-476x270.webp 476w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-1536x872.webp 1536w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-796x452.webp 796w, https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/03\/12544b4d-c219-454c-8fc0-dc880b76e8c8-1592x903.webp 1592w\"><\/noscript><\/figure>\n<p><span>Nasdaq is the world\u2019s premier marketplace for tech stocks. Google, Amazon, Apple, Facebook, and Microsoft all went public on the exchange. In Europe, there\u2019s no comparable trading venue, which restricts the growth of <a href=\"https:\/\/thenextweb.com\/topic\/startups\" target=\"_blank\" rel=\"noopener noreferrer\">startups<\/a><\/span><span>.<\/span><\/p>\n<p>\u201cThere isn\u2019t a single tech market here in Europe,\u201d Robinson tells TNW. \u201cNor is there the knowledge,&nbsp;experience, and understanding of software from investors in public markets. They don\u2019t know how to value software companies, they don\u2019t understand how they operate, and&nbsp;they don\u2019t understand the intrinsic value of them.\u201d<\/p>\n<p>These circumstances contribute to a vast \u201cexit gap\u201d between European and US firms. In Europe, tech <a href=\"https:\/\/thenextweb.com\/topic\/founders\" target=\"_blank\" rel=\"noopener noreferrer\">founders<\/a> often sell their businesses while they\u2019re still private \u2014 and miss the chance to maximise their valuations on the public market.<\/p>\n<p>Those that do pursue an IPO typically list in the US.<\/p>\n<p>\u201cEither they go on the NYSE or on the NASDAQ,\u201d says Robinson. \u201cAt that point, you\u2019re not a European software company anymore \u2014 you suddenly become a US software company.\u201d<\/p>\n<h2>Arm\u2019s hammer blow<\/h2>\n<p>Arm\u2019s flotation plans provide a painful example of the impacts. The British chip giant is set to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-01\/softbank-chip-designer-arm-rules-out-uk-listing-focused-on-us-ipo\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">snub pleas<\/a> from the UK government to list in London and instead float in New York. Even offers to <a href=\"https:\/\/www.thetimes.co.uk\/article\/fca-offers-to-bend-the-rules-to-land-arm-float-7xmxl2nrz#:~:text=The%20City%20watchdog%20has%20offered,that%20risks%20a%20major%20backlash.\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">bend stork market rules<\/a> have failed to convince the company to go public in its home country.<\/p>\n<p>Analysts attribute the decision to the US investment landscape\u2019s bigger equity markets, focus on growth, and history of generating higher valuations. <span>European investors, by contrast, have a reputation for being risk-averse and short-termist.<\/span><\/p>\n<p>A Nasdaq listing also increases confidence that a company will be around for the long haul.<\/p>\n<p>\u201cIt\u2019s a step towards being a global leader, which we don\u2019t have in Europe,\u201d says Robinson.<\/p>\n<blockquote class=\"c-richText__pullQuote\" readability=\"29\">\n<div class=\"c-richText__pullQuoteGradient\" readability=\"32\">\n<p class=\"c-richText__pullQuoteQuote\">It\u2019s a market for technology businesses to go public in Europe.<\/p>\n<\/p><\/div>\n<\/blockquote>\n<p>Proposals have been floated for a localised equivalent of Nasdaq in Paris or London. But Robinson insists that only a pan-European exchange would have the necessary scale.<\/p>\n<p>Founding such a market will be immensely challenging. It requires the will of politicians, new legislation, and deeper market expertise. Once those are in place, European tech firms will need to be persuaded to list on the market.<\/p>\n<p>It won\u2019t be an easy process, but Robinson is convinced it would be worth the effort.<\/p>\n<p>\u201cIf you have a European version of Nasdaq\u2026 it\u2019s a market for technology businesses to go public and list their companies in Europe \u2014 and not sell out to become an American software company by virtue of the fact there\u2019s nowhere else to go.\u201d<\/p>\n<p><em>Phill Robinson will be speaking at TNW Val\u00e8ncia, which takes place at the end of March. If you want to experience the event, we\u2019ve got something special for our loyal readers. Use the promo code <strong>TNWVAL30<\/strong> and get a 30% discount on your <a href=\"https:\/\/bit.ly\/3HU7L5v\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">conference business pass<\/a>&nbsp;for TNW Val\u00e8ncia.<\/em><\/p>\n<p> <a href=\"https:\/\/thenextweb.com\/news\/startups-need-pan-european-nasdaq-compete-silicon-valley-big-tech\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why can\u2019t European tech companies compete with Silicon Valley giants? It\u2019s a perennial conundrum for the continent\u2019s IT leaders \u2014 and one that Phill Robinson is trying to solve. After a globetrotting&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12643"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12643"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/12643\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}