Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-06-Speech-3-251"
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"en.20101006.17.3-251"2
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"Madam President, as reported in the
of 6 October, the research Commissioner, Mrs Geoghegan-Quinn, has warned of an innovation emergency in Europe.
We need to stimulate private sector research funding through a variety of measures, such as venture capital financing initiatives. However, the European Union proposals, intended to prevent a repeat of the financial economic crisis, lump venture capital – key to driving small innovative start-ups in the EU – together with speculators such as hedge funds.
Venture capital is the honeybee of alternative funds owing to its ability to pollinate emerging businesses and drive growth in the global economy, as exemplified by Google, Facebook and Skype. Venture funds provide access to capital, business expertise and often the market place itself for innovative private start-ups and SMEs. They provide stable support and investment for a period of between three and seven years on average.
We also need to bridge the gap between ourselves, the US and Japan. I think we should heed the words of the Research Commissioner, Mrs Geoghegan-Quinn."@en1
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