- Stjepan Orešković, founder of BOSQAR d.d., was featured in the February 2025 edition of the European Economic and Social Committee Info Newsletter.
- In an interview, he discussed Europe's economic competitiveness and the need for concrete policy actions beyond the Draghi Report.
- The interview also showcased the Future 500 initiative, a strategic the Atlantic Council effort to support high-growth European companies, which Orešković announced at Conclave II in Brussels alongside Jörn Fleck.
Zagreb, Croatia, March 7th, 2025 - Stjepan Orešković, founder of BOSQAR d.d. (ZSE: BSQR), the holding company of BOSQAR INVEST, was featured in the February 2025 edition of the European Economic and Social Committee Info Newsletter.
In an interview with Laura Lui, Orešković discussed the Atlantic Council's "SEEUS - Future 500" initiative. He emphasized the need to move beyond the Draghi Report.
"It is time to take a concrete step forward before it vanishes in the corridors of politics. We need good strategists and policymakers capable of moving beyond this report and developing strategies for EU industrial policy."
Alongside Jörn Fleck, Senior Director at the Atlantic Council, Orešković presented the "Future 500" initiative at the Conclave II conference in Brussels.
This project, part of the SEEUS Futures platform, aims to identify and support 500 European companies with the potential for global impact, fostering a new generation of entrepreneurs.
A compressed version of the interview can be found below.
Can you briefly present the core idea of 'Future 500' project?
Drawing on insights from important reports on the future of Europe—prepared by Draghi, Letta, and Heitor—and analysed through the dual lens of scientists and entrepreneurs, the initiative raises several critical questions: Who will execute these competitiveness plans, and the newly published Competitiveness Compass? What mechanisms will be used? What costs will be incurred? And what returns can be expected compared to those of recent high-growth U.S. companies? The "Future 500" project is a cornerstone of the SEEUS platform, representing the U.S., EU, and Southeast Europe, and aims to boost visibility and cooperation among these regions. It is strategically designed to address Europe's pressing need to nurture a dynamic environment that elevates local companies to leaders on the global stage. The initiative focuses on providing venture capital, strategic guidance, and international networking, learning from experts like Harvard University's Dani Rodrik and EBRD's Beata Jaworcik to develop 21st century industrial policies that significantly enhance our competitive position.
Do you already have potential candidates for the 500 companies you plan to select? What are the basic requirements a company must meet to be chosen?
While no specific companies have been chosen yet, 'Future 500' will target entities with scalability and rapid growth potential. The process will be open and continuous, and prioritise economic promise, innovation, and strategic importance within their sectors. We will also seek to establish partnerships with multilateral development banks and investors that are already supporting companies in becoming a competitive force. The focus is on companies that already demonstrate robust growth path, innovative capabilities, and the ambition to scale globally. This ensures that the companies are not only market leaders but also trailblazers in technology and business models. We will build on the experiences of great projects like Scale-Up Europe, which bring together founders, investors, executives, and scientists with the mission of making Europe a home for tech champions. For EU candidate countries, these potentially selected companies are especially crucial—they will embody the principles of the new economy and serve as role models for ambitious, internationally competitive firms that do not mostly rely on national taxpayer funding.
How optimistic are you about Europe's global competitiveness potential?
There is significant optimism about Europe's ability to strengthen its global competitive position moving away from prevailing attitudes of self-pity. Eurozone’s stock benchmark total returns, since this bull market began in late 2022, overperformed S&P 500, if we take Nvidia out. European social and health systems are keeping people healthy and active for longer periods at a much lower cost, and have a positive impact on the productivity and competitiveness of our economy on a global scale.
We are trying to echo Immanuel Kant's notion of "genuine enthusiasm" which he mentioned in the context of the French Revolution. Such a mindset can transform challenges into a motivational force, leading to seemingly invincible determination. We need fewer fat cats and puppy dogs—wealthy, complacent elites and overly obedient, unambitious followers—who have been favored in the last two decades. Instead, we need more 'hungry young men'—driven, ambitious individuals ready to take on challenges.
The 'Future 500' initiative aims to proactively address chronic issues flagged in competitiveness reports, such as the need for bold innovation and the scaling of enterprises. Europe's global standing will heavily rely on its ability to integrate advanced technologies, nurture entrepreneurial talent, and refine industrial policies to support inclusive growth. By leveraging its well-educated workforce, rich innovative heritage, and traditional and new industrial sectors—and addressing issues like regulatory fragmentation and market imbalances—the initiative strives to create a fertile environment for business leaders and innovators.