From an outsider perspective, Belgium has a very diverse economy with dozens of influences coming together at its prime location in the heart of the EU. Being the home to several major European universities, and a mix of service-based economy in the north and industrial-based in the south, Belgium has a diverse market structure that keeps it competitive and one of the highest income per capita economies in the world. However, when it comes to entrepreneurship, Belgium is not thriving.
Solvay Brussels School of Economics and Management (ULB) Professor and Chair of Entrepreneurship Olivier Witmeur explained in an interview with the American Chamber of Commerce in Belgium that it wasn’t until the late 1990s that the country started to pay attention to entrepreneurs, but that his nation has since tried to move fast to make Belgium a good place to do business today. He highlighted that there are 300 grants available for every type of startup imaginable, along with incubators, subsidized office space and government funding to programs in schools. The government has also sought to bridge the gap between R&D and entrepreneurship according to an analysis citing several government initiatives in this regard. For example, in 2004, Belgium passed legislation to establish the Industrial Research Fund to provide grants for research ideas that will develop into easily marketable products.
To read the full, original article click on this link: Finding Belgiums Startup Barriers - Entrepreneurship.org
