28.01.2025 14:20
As the technological competition between the USA and China continues unabated, Europe has fallen behind in this race. Dr. Ekrem Teymur, the founder of Haberler.com, listed the main reasons for Europe's inability to produce technology giants as cultural, structural, and economic barriers.
As the technology competition between the USA and China continues unabated, Europe has fallen behind in this race. Dr. Ekrem Teymur, the founder of Haberler.com, listed the main reasons for Europe's inability to produce technology giants as cultural, structural, and economic barriers.
According to Teymur, entrepreneurship is not encouraged in Europe, heavy bureaucracy and talent migration have weakened the continent's competitiveness. Additionally, Europe's environmentally focused policies have restricted technology investments. Teymur stated that for the continent to compete with the USA and China, it needs large-scale investments and structural reforms, emphasizing that under current conditions, taking such a step is difficult.
Europe Has Fallen Behind in the Technology Arena
When examining the list of the largest technology companies in the world, it was observed that there are almost no companies originating from Europe. While companies based in the USA and China dominate the sector, Europe has remained in the background.
Evaluating why Europe has fallen behind in the technology race, Dr. Ekrem Teymur stated that the continent's weakness in this area is based on many different factors. In particular, the young population in Europe has decreased, the demographic structure has aged, and this situation has negatively affected the technology sector.
The culture of entrepreneurship has not developed sufficiently on the continent. "While failure is seen as part of the entrepreneurial journey in the USA, in Europe, young people are raised to be more risk-averse and avoid taking risks. This has hindered the development of entrepreneurship," he said.
There Is a Large Talent Migration from Europe to the USA
One of the biggest obstacles to entrepreneurship in Europe has been bureaucracy. While starting a company and attracting investment in the USA happens much faster and easier, the processes in Europe have become complex and time-consuming. Teymur stated that the process of establishing a company in Germany takes months, which deters investors.
Moreover, talent migration has also disrupted Europe's progress in the technology field. Talents in Europe have turned to the USA and China, which offer better opportunities. Teymur noted that this situation has seriously weakened the continent's innovation capacity. "This migration has been a significant loss for Europe, but an important gain for the USA and China," he said.
Environmental Policies and Economic Barriers Have Weakened Competition
Dr. Ekrem Teymur expressed that Europe prioritizes environmentally focused policies over technology, negatively affecting technology investments.
Teymur stated that for Europe to be competitive in the technology field, an investment of over 800 billion euros is needed, but emphasized that the European Union does not have the economic power or political will to make such a large investment.
The USA Maintains Its Superiority, China Is Closing the Gap
The USA continues to grow in the technology field thanks to its strong entrepreneurial ecosystem, profitability-focused business models, and low bureaucratic barriers. China has emerged as a competitor to the USA.
Europe, on the other hand, has fallen further behind in this race. Teymur stated that this situation will not change unless the continent implements structural reforms.
As a result, Dr. Ekrem Teymur's analyses reveal that Europe needs profound changes and serious investments to secure a stronger position in the technology arena. However, considering the current economic and structural conditions, it seems difficult for Europe to compete with the USA and China in the short term.