UnicornQuest

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In 2021, Europe witnessed the birth of 85 “Unicorns,” new technology companies valued at $1 billion or more. Unfortunately, many of them were forced to leave Europe, a huge loss in terms of jobs, intellectual property and brain drain.

JRC 2022 report “In search of EU unicorns”, describes that this trend is continuing, with companies such as Just Eat, Skype, Transferwise or UiPath (among others), European in origin, now providing thousands of jobs and making billions in investments from their headquarters outside Europe.

Project regions are also experiencing this exodus of to-be-unicorn start-ups and must take measures to combat the large Unicorn Hubs in the EU and US capitals.

Partner regions want to be different through various ‘little valleys’ that offer space for experimenting, using the local community as a testing ground for future unicorns. These ‘little valleys’ will soon retain and attract icorns who want to grow according to EU values such as respect for human rights, freedom, democracy and equality. These values provide the essential basis for distinguishing ‘valleys’ from other hubs, especially in the US and the Far East, creating strategic differentiation for the regional ‘valleys’.

Through the exchange of experiences between regions, partners will share regional experiences and use the Harvard CASE method to establish peer exchanges and facilitate learning among partners, expecting to improve 9 policy instruments in the first 36 months of the project.

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