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The Insufficient Technological Growth in the European Market Needs to Change

European tech business needs to improve and improve fast.

The lack of key names in tech that originates from the European territories is so serious at the moment that unless the situation is addressed in time, it will turn out to be a real problem down the line.

The Dominance of Silicon Valley

As of now, the United States of America has assumed the role of leadership in the tech industry. If there is any doubt regarding the influence and power of the US tech industry which is thriving and taking decisions with a tremendous domino effect on the entire modern world, taking a look at how America shut out Huawei clears all confusion.

Without Google providing Android OS licenses and support to Huawei, the world's second largest smartphone company is now facing losses by the billions and short of the US government allowing Google to support Huawei again, the Chinese MNC, even with its vast resources, is most likely not going to make it in the smartphone industry.

Whether it was a direct result of the tech war which the US and China are involved in right now, or there was a significant cause to initiate the ban, is a matter of debate. Nonetheless, it is quite obvious that Europe really needs to start thinking about alternative solutions than relying on America for most of their modern technology needs, as the entire world does right now.

Europe has the Infrastructure and the Resources to Make it Happen

Unlike the rest of the world, the European Union comprises of many nations and, therefore, has access to probably the largest pool of resources in the modern world.

Similar to what has transpired in San Francisco, USA, Europe can foster and nurture new tech startups as well, and maybe with an even greater efficiency down the line.

The Need for Actual Leaders in the Sector

The technical knowledge is the base to start with and Europe is actually not lacking in that department at all. Where Europe is lacking has a lot to do with leadership.

Europe needs trained leaders who have corporate knowledge and business experience to lead the genius of the innovators in the sector towards a successful international business model.

If someone has an interest in the field, checking out this online leadership masters degree from St. Bonaventure University is highly recommended. It focuses on strategic leadership, rather than the managerial aspects of the traditional MBA programs, which is exactly what is required to lead a lagging industry out of the sag.

Back in 2015, it was found that Europe's share of the global tech market was 4%, while that of the US was 79%. Given how many countries there are within the Union, it is really time to change that and think about the future because, without a sound technological industry, there is no bright future for any region in the modern world, especially a decade in the future.

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