Makes no sense. That money will go to waste.
Starting and scaling a business in Europe is harder than in America. This is true for fundamental reasons, like language and national borders. It’s also true due to regulation and the culture of work and towards commerce in general.
Some of those come with reasonable tradeoffs, e.g. in respect of employee protections. Many do not, particularly when it comes to licensing, bureaucracy and the peculiar way most European tax law and regulation tries to compensate for its licensing and bureaucracy by adding more bureaucracy in front of a balancing subsidy.
Yes, it's a big annoying to start a company in some EU countries. No, it's not as bad as HN claims.
Small companies can get away with it for awhile, but not forever
EU is starting a program where AI startups will get access to their supercomputers and also get a chance to win prizes.
16 November 2023: Commission opens access to EU supercomputers to speed up artificial intelligence development [0]
- Launch of the Large AI grand challenge: This competition – launched today, is a collaboration led by the EU funded project AI-BOOST, with access to the European Supercomputers being facilitated by the EuroHPC JU. It encourages the wide participation from European start-ups with experience in large-scale AI models. The winners are expected to release the developed models under an open-source license for non-commercial use, or through publishing their research findings. The challenge will select up to four promising European AI start-ups that will be given access to EuroHPC supercomputing facilities to foster the development of large-scale AI models in Europe and a €1 million prize will be distributed among the winners.
- Opening up European supercomputer capacity: Access will be established for ethical and responsible AI start-ups, enabling them to efficiently train their models using European supercomputers.
- Enhanced activities and services: the EuroHPC JU will advance activities and services powered by High-Performance Computing to foster trustworthy AI in Europe. These efforts will aim to facilitate increased accessibility for AI communities and promote the optimal and efficient use of HPC technologies for scientific and industrial innovation.
[0] https://ec.europa.eu/commission/presscorner/detail/en/ip_23_...