Austrian investor and business angel Berthold Borek-Karlik talks about what the local investor scene can learn from Germany. He criticizes the new legal form FlexCo. because little has changed.
Recently, former ECB President Mario Draghi has criticized Europe, also for excessive bureaucracy. Do you share his assessment?
Berthold Buric-Karlicz: Yes, I see it the same way. It is gratifying to be recognized at the highest level that we are struggling with bureaucratic hurdles. This slows us down and leaves us behind. This criticism has been voiced in the startup ecosystem for decades. This is particularly important for startups valued at more than €1 billion, of which Mr Draghi said 30 percent have left. The main reason for this is that innovation follows money. In Europe, we have a strong research position, but a rather weak innovation scene.
The German financial sector announced this week that it will invest heavily in startups. What do you think Germany is doing better in this area?
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