[zerostar07]

I don't think it's so much a lack of funds, but a lack of motivation and an entrepreneurial focal location. Unfortunately europe's riches are typically not entrepreneurial and state-subsidized entrepreneurship fails. Maybe the successes of a first generation of entrepreneurs will create such a hub.

There used to be great entrepreneurship hubs in Europe... in the 1500s. Wealthy europeans are more likely to invest in experimental art than experimental businesses nowadays.