Startups Support the Future. Project Europe unites 125+ founders to help young entrepreneurs
Europe’s startup ecosystem is taking a major step forward: over 125 successful European tech founders have joined forces under the Project Europe initiative to support the next generation of entrepreneurs. As reported by Brutkasten, the project was launched by well-known podcaster and venture capitalist Harry Stebbings to combat the “doom loop” — a cycle in which Europe has been losing talent to the U.S. for years. Among the participants is the Austrian company Tractive, and this is just the beginning.
Project Europe is more than just talk — it’s a €10 million fund offering €200,000 in investments to young founders aged 18–25 for their startups. The goal is clear: to stimulate the creation of tech companies with European roots, even if they operate outside the region. The fund is backed by VCs 20VC, Point Nine, and Adjacent, and supported by a stellar group of mentors including Tobi Lütke (Shopify), Sebastian Siemiatkowski (Klarna), and Tractive founders Michael Hurnaus and Wolfgang Reisinger. “Young founders receive not just capital, but access to a network,” Hurnaus told Brutkasten.
Tractive, an Austrian startup specializing in GPS trackers for pets, recently hit an impressive milestone — €100 million in annual recurring revenue (ARR). Their participation in Project Europe highlights Austria’s growing influence in the continental startup scene. Each year, the fund will select 10–20 young entrepreneurs, offering not just funding, but also mentorship from industry veterans.
Stebbings’ initiative challenges the stereotype that Europe isn’t a place for innovation. “The world decided Europe can’t produce breakthroughs. That’s false,” he told Financial Times. His firm 20VC, which launched a $400 million fund last year, is now betting on young talent to reverse the brain drain. But will Project Europe truly shift the global tech balance — or is it a drop in the ocean against the U.S. dominance? One thing is clear: Europe is ready to fight for its place under the sun, and its young startups are its greatest hope.
