In general, the real value to a country’s economy comes when startups begin to scale and develop sufficiently with significant income. While some startups can usually run without investors, most of them cannot. Furthermore, many countries in Europe still need a real change towards promoting more innovative and entrepreneurial culture.
In an attempt to give that much-needed push to such startups, the European Parliament opened the European Institute of Innovation and Technology (EIT). Since 2012, EIT Digital Accelerator has supported many ventures to scale up their business in Europe and beyond. The recent one to join the bandwagon is the German tech startup SonoBeacon.