„The power of innovation – turning a crisis into success“ - Review of the Fabasoft TechSalon on April 29, 2014

On April 29, 2014, Fabasoft took a close look at the various factors for power of innovation and European economic politics. At the Fabasoft TechSalon in Vienna, representatives from five political parties running for the upcoming EU elections met for a discussion on education, taxes, the job market as well as Europe.

Barbara Feldmann, ÖVP, noted a backlog in reforms with regard to improving the conditions for Austria as a business location. Education could, however, make up for the costs of high fees or long approval procedures. “Companies choose a place where they will find well-trained specialists”, Feldmann said.

“Start-ups are in particular facing a credit squeeze, having to put up the same amount of money for a small loan”, Stefan Schennach, SPÖ, underlined the insufficient framework for founders.

“The industry is creating jobs and thus delivers prosperity”, >Barbara Kappel, FPÖ, stated. Furthermore, many small and medium-sized companies are networking on an economic basis with the leading businesses of the relevant industry.

MEP Ulrike Lunacek, Die Grünen, put her focus on the educational sector. “We are facing an enormous educational drama, starting with the fact that children of nine or ten years need to decide about their future. This is not up-to-date, and at the lowest European level.”

According to Stefan Gara, NEOS, Europe is far behind the United States with regard to entrepreneurship. However, there is yet no “awakening of a new generation of founders, who are also allowed to fail”.

Host Helmut Fallmann, founder of Fabasoft, strongly advocated a return to European values: “Europe needs fair competition for IT and Cloud services by European rules. It is not acceptable for Facebook to steel our children’s data. This is contradictory to the European system of values.” Europe also needs a strong growth market for small businesses. As long as such a market does not exist, “many start-ups will be funded in Europe, while the exits will happen in the United States. This is where the added value will then take place.”

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