More than 120 European tech founders, including leaders from Shopify, Klarna, and Mistral, are joining forces to mentor and invest in young entrepreneurs as part of efforts to counter the Trump administration’s attacks on European competitiveness.
Harry Stebbings, a London-based podcaster turned venture capitalist, is leading Project Europe, a new €10 million fund that will offer €200,000 to individuals aged 18 to 25 to build tech startups. The project is designed to combat what Stebbings has termed the ‘death loop’ in Europe, which is causing a ‘brain drain’—the exodus of top talent to the U.S.—that could harm Europe’s future if changes are not made.
Project Europe is the latest attempt to stimulate European entrepreneurship at a time when many investors in the region are concerned that the U.S. and China are outpacing its startups, particularly in the field of artificial intelligence. Last October, dozens of European founders, including Patrick Collison from Stripe and Ilkka Paananen from Supercell, launched EU Inc to lobby for simplified and standardized investments and business operations in EU member states.
Companies 20VC, Point Nine, and Adjacent are contributing to the project’s capital along with more than 125 founders, including Tobias Lütke from Shopify, Sebastian Siemiatkowski from Klarna, and Niklas Östberg from Delivery Hero, who will also be available to mentor the recipients of the funds.
– Bringing together over 100 leading European founders under one mission highlights the strength and impact of Project Europe in shaping the next generation. We are here to support young talents facing the toughest technical challenges, with capital, mentorship, and infrastructure, said Siemiatkowski.
