The next Google will come out of Eastern Europe

(BusinessWeek) Skype Technologies' (EBAY ) brash European founders, Niklas Zennström and Janus Friius, had no product in 2003 when they pitched their business plan to Luxembourg venture fund Mangrove Capital Partners. Their idea was to attack a complacent global telecom industry with an ad-based service that offered free phone calls over the Internet--a plan that 20 venture capital groups already had rejected....
....Mangrove is also betting some of the biggest Net hits will come out of Eastern and Central Europe, where engineering and mathematical skills run deep. "We see Eastern European entrepreneurs as more fervently capitalist than Western Europeans," says Lopez....


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