So Italy launches three times as many startups compared to San Francisco and has a third of the institutional investors in Silicon Valley? Holy sh*t: Startup paradise! Well … not really. And while the numbers may be correct, quality and quantity are two very different things. I know something about it: Since January 2010 I’ve cofounded two startups and invested in 10 others, occasionally mentoring dozens more (mostly in the 500Startups network).
– Italy has one of the highest unemployment rates of Europe. It’s a staggering 43.3% for people below 25 years (yep, you read it right). That’s a scary figure, and it’s of course deeply connected with the political situation of the country. When startups are all the rage, “being an entrepreneur” is the new “being unemployed”. Easy as that.
Armando Biondi, VentureBeat.com