Combating fear of failure among European entrepreneurs

Fear of failure is one of the main reasons why lots of great ideas have not been developed in Europe yet. FACE Entrepreneurship is a European Commission project, born to promote ICT entrepreneurship by working through key aspects such as risk aversion, resilience and the current concept of failure.

Perceived capabilities and opportunities to startup a business in Europe are lower than in any other continent, according to the last “Global Entrepreneurship Monitor Report”. Moreover, 39.1 per cent of the adults with entrepreneurial intentions in Europe stated that they would be prevented from starting up a business because of fear of failure.

FACE (Failure Aversion Change in Europe) Entrepreneurship is a digital and multimedia campaign led by the Spanish Communication company “Secuoya Group” and funded by the European Commission that aims to promote ICT entrepreneurship and to challenge the current understanding of failure in Europe.screen-shot-2016-11-04-at-12-08-26

The project’s initial part consisted of a Delphi study conducted by PHD Jan Brinckmann and other experts that identified the most common fears entrepreneurs face when starting up.

As experts have identified, entrepreneurs experience fear on various aspects of their lives: financial, career, social, self-perception and more.

FACE Entrepreneurship offers a wide range of benefits and resources to promote entrepreneurship and alter the current concept of failure: networking events, panels, workshops, more than a 100 multimedia interviews with top of the line entrepreneurs, direct tips about what investors value the most and are looking for and resources for starting up a business.

The digital platform is based on gamification dynamics and the material is distributed in a box that represents the “road to entrepreneurship” that any entrepreneur would follow in the process of converting its idea into a product or service fit for the market. Each square in the box represents a situation that any entrepreneur could face and it shows different audiovisual contents and activities to participate in. And, thanks to the gameplay, participants can win different prizes like free tickets and trips to the events, guided visits to consolidated start-ups and personalized sessions with mentors and investors. For more information about FACE please visit: www.face-entrepreneurship.eu

Our Techsylvania speakers have also approached the topic under various forms in an attempt to shed a light on the hardships entrepreneurs face. At the last edition of Techsylvania, Tim Draper has talked about the challenges that entrepreneurs outside Silicon Valley face. Also, Rohan Chandran has depicted the bumpy road to success as a founder.

This evergreen topic and many more relevant experiences will be shared on stage at the next edition of Techsylvania. Stay tuned for the Early Bird tickets to be released on December 31st!

This is a guest post by our partners at FACE Entrepreneurship

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Anna Maria RaduCombating fear of failure among European entrepreneurs

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