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Spotify CEO announced 1 billion euros to invest in startups, accounting for 1/3 of its wealth

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According to reports, Spotify CEO Daniel Ek (Daniel Ek) announced on Thursday that he will spend 1 billion euros ($1.2 billion) of his own resources to invest in European startups .

At an event organized by the entrepreneurial community Slush, Ike stated that he will use the funds to invest in European “lunar exploration” project, focusing on in-depth technology, which is a new tool for scientific innovation. He will focus on areas such as health, education, and biotechnology.

Ike said: “I want to do my part. We all know that one of the biggest challenges in starting a business is lack of funds.” He hopes to create a “New European Dream” similar to the “American Dream” in the next 10 years.

According to “Forbes” data, Ike is currently worth 3.6 billion US dollars. This means that he will spend 1/3 of his in these investments .

Ike said that many European technology companies have been acquired by American rivals, and outstanding entrepreneurs have left Europe for Silicon Valley. This situation disappointed him. One of the most well-known examples of European entrepreneurs going to the United States to start a business is payment giant Stripe. The company’s founder is from Ireland, but has successfully started a business in Silicon Valley.

In recent years, Europe has been regarded as lagging behind the United States and China in technology. The United States and China gave birth to the world’s largest technology companies, such as Amazon, , Tencent and Alibaba. There are no similar success stories in the European technology industry.

According to data from venture capital firm Atomico, last year, European technology startups received a record investment of 34.3 billion U.S. dollars, and this year’s momentum continues. Klarna, a “buy first and pay later” similar to Huabei, completed a $650 million financing, while the digital banking application Revolut received a new investment of $580 million.

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