Entrepreneurship in Europe faces hurdles that often deter young innovators from taking risks. To address this, Project Europe has been launched as an initiative to provide financial backing and mentorship to early-stage founders. Led by Harry Stebbings, the founder of 20VC, the project brings together established European entrepreneurs to support the next wave of business leaders. The initiative aims to foster a culture of innovation and risk-taking by offering structured support to young individuals with ambitious ideas. With participation from key figures in various industries, the program seeks to encourage sustainable growth in the European startup ecosystem.
Similar initiatives in Europe have existed in the past, but Project Europe distinguishes itself by focusing on early-stage entrepreneurs with no prior funding or formal education requirements. While many European startup accelerator programs prioritize scaling existing companies, this initiative provides direct investment from the idea stage. Compared to previous projects, the scope of mentorship and direct funding commitment offered here is broader, with 125 experienced founders playing an active role in mentoring and funding new businesses.
How does Project Europe support young entrepreneurs?
The initiative selects 10-20 founders annually, offering €200,000 in exchange for 6.66% equity when leading the investment round. The criteria focus on individuals under 25 who are addressing complex problems through technical solutions. While participants must establish their companies in Europe, they have the flexibility to expand globally or build remote teams. The program does not require prior educational qualifications or funding, making it accessible to a wide range of aspiring entrepreneurs.
Who are the entrepreneurs backing the initiative?
Project Europe has the backing of prominent European founders, including Mati Staniszewski (ElevenLabs), Rina Onur Sirinoglu (Spyke Games), Victor Riparbelli (Synthesia), and others. These individuals will provide mentorship and guidance to participants through direct engagement. The initiative also includes structured resources such as masterclasses on sales, product development, and growth. Additionally, founders gain access to networking opportunities at an annual retreat event.
According to Stebbings:
“I started 20VC as an 18-year-old from a bedroom in London. It is time to change the narrative that Europe cannot build massive companies. Europe can and will build the most defining companies of our time.”
Beyond funding, the initiative provides a full support system, including access to marketing and distribution channels through 20VC Media. Participants will receive guidance from 125 European founders who have committed to supporting the program. The mentorship aspect is a crucial component, ensuring that new entrepreneurs receive advice from experienced professionals as they develop their businesses.
Unlike some initiatives that align with governmental or political policies, Project Europe operates independently. The program intends to remain a neutral and self-sustaining force for entrepreneurship in the region. As more founders and partners join, the initiative aims to expand its reach and impact over time.
For young entrepreneurs in Europe, securing early-stage funding can be challenging due to the lack of risk-tolerant investors compared to other regions. By focusing on individuals in the initial phases of their business ideas, Project Europe addresses this gap. The presence of experienced founders as mentors also adds a practical dimension to the program, offering direct insights into the realities of building a company. While the initiative is in its early stages, its success will depend on its ability to foster long-term business growth and create sustainable companies.
