A major challenge for European startups targeting the enterprise is that large purchasers of technology in Europe are usually unwilling to buy from a new vendor. JP Rangaswami, global chief information officer of Dresdner Kleinwort Wasserstein, said he'll consider a startup if it is solving a problem the financial institution has. The provider must also fit three other criteria that prove whether the startup has a good chance to make it or not:

1) A strong management team that will stay together in tough times.
2) A solid funding base that shows the company won't disappear in the near future.
3) A consistent strategy that indicates support for the product will be there.

He made his comments at the Innovate! Europe '05 conference, which he said he attends because he likes to learn about cutting-edge technologies being developed so he can find out what problems he has that he doesn't even know he has. If more enterprise buyers of technology were more like Rangaswami, startups in Europe (or the US) would have a much better chance at success. —Joshua Jaffe from Innovate! Europe '05

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