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For the past few months, there has been discussion in Europe about creating a concept like EU Inc. (the 28th regime) a single pan-European legal company structure with:
100% online incorporation
extremely fast setup (target: ~48 hours)
operation across the entire EU without needing to establish 27 separate companies
a digital-first corporate lifecycle
So far, within Europe, people most often set up companies in Estonia, mainly due to its low tax burden and fully digital infrastructure, as well as in countries like the Czech Republic, Slovakia, or Hungary.
My journey in startups began 10 years ago, and I've launched 18 startups, most of which failed. Briefly on why they failed: 1. Contract Online my first startup in 2015, which was supposed to be an online service for remote signing of contracts for any transactions between individuals. A kind of analogue of a secure transaction. For this startup, I even managed to attract a business angel who invested $16,500.
Reason for failure: I had two lawyers on my team who discovered in the process that the legal framework at the time could not provide reliable grounds for protecting our users in remote transactions. The contracts would not have been considered legally signed. 2. Natural Products In 2015-2018, I became very passionate about healthy eating, but in the process, I discovered that products in all chain stores are full of chemicals, and stores with truly natural products are inaccessible to the majority. Hence, the idea emerged to create my own online platform where you could order natural products directly from farmers at affordable prices.
Reason for failure: For several years, I tried to launch this project, even trained as a baker of natural bread and tried to create my own farm, but in the process, I found that few people are willing to pay for truly natural products, even if these products were only 20-30% more expensive than market prices, and not 2-3 times more, as in premium stores. Hence, the market was so small that all my attempts were doomed.