www3.imperial.ac.uk - "Tech entrepreneur ‘brain-drain’ to US is a source of concern, say researchers"
Europe is undergoing a significant technology entrepreneur brain-drain to the United States because it is not doing enough to retain information and communication technology (ICT) start-up companies.
A report by researchers from Imperial College Business School, initiated by the EIT ICT Labs and published today, found that ICT is a major economic driver for Europe. Between 2005 and 2010, investment in the sector accounted for one-third of all economic growth in the region, while ICT innovations bring positive, knock-on benefits for other industries.
The report – ‘ICT innovation in Europe: Productivity gains, start-up growth and retention’ – found that European countries are leading the way in nurturing talent, but do hardly enough to retain it. In fact, 43 percent of successful EU start-ups end up being acquired by US companies.
A study prepared by P. KOUTROUMPIS(1), A. LEIPONEN(2 ) and L.D.W. THOMAS(3)
We acknowledge financial support from the EIT ICT Labs. We also wish to thank Achim Luhn for guidance and support and Kumush Abduraimova for research assistance.
(1) Imperial College Business School, (2)Cornell University and Imperial College Business School, (3)Imperial College Business School
Tech entrepreneur brain-drain to US is a source of concern http://t.co/sUZKqfzxGj— Aija Leiponen (@AijaLeiponen) March 12, 2015
Imperial College & EIT ICT Labs report on the impact of ICT on European economy: http://t.co/rIhVRjzUf5— Aija Leiponen (@AijaLeiponen) March 12, 2015