There are a few bright spots amid all the darkness that many believe encompasses Europe when it comes to commercializing its rich technology. MySQL AB, a Swedish-born open-source database company is one of them. It's the largest open-source software company in the world, has raised venture capital from Benchmark Capital and Index Ventures, has 200 employees, a reported $20 million in revenue and 6000 paying customers. Not too shabby.

Its CEO, Marten Mickos, spoke at the Innovate! Europe '05 conference this morning about what Europeans need to do to make more companies with the potential that MySQL currently has to grow into a world leader. In urging the embrace of risk, a blunt Mickos noted, "There are these conferences where everyone agrees things must change but then the next day nothing happens." He added that innovation doesn't have to be just about product technology, noting that open source is innovative as a way of producing and distributing software.

Europeans should be more encouraging to risk takers, whether they fail or succeed. He said he hears encouraging words every single day from people in Silicon Valley, where he relocated to two years ago. However, when he returns to his native Finland, he is reminded of a company he was previously involved in that failed subsequent to his departure. "They say 'That's terrible. Your career is over and you've had to leave the country.' In Silicon Valley they say, 'You've been through bankruptcy. That's great. You know what it's like.'" —Joshua Jaffe from Innovate! Europe '05

Go to Software Only's take on Mickos
Go to a Spanish language account of the Mickos talk
Go to The Innovate! Europe '05 Photoblog
Go to a live blog of the event