Time was, being an entrepreneur in Europe carried a lot more than just economic risk. In countries where social conformity prevailed and many workers sought comfortable lifetime employment, business failure often meant a permanent stigma. Even in the go-go 1990s, venture capitalists had to scour university labs and huge companies for hot technologies to spin off, and coax academics or managers to start their own companies.

Now, a new breed of entrepreneur is starting to multiply, from MBA graduates determined to strike out on their own to seasoned executives eager to run their own show. In part, they’re inspired by so-called “serial entrepreneurs” — Dennis Payre, for example, the co-founder of France’s Business Objects () — who are grabbing headlines as they launch second or third companies. That hardly ever used to happen in Europe (see BW Online, 5/26/06, ).

“MAD, PASSIONATE ACT.” Business schools, too, are getting in the act of boosting Europe’s entrepreneurial base. In January, Fontainebleau-based management school INSEAD teamed up with Barcelona’s IESE to create what has been dubbed European Entrepreneurship Accelerator, a 10-week elective course that allows students to work side by side with serial entrepreneurs. “More and more students are joining business schools with the intention of becoming entrepreneurs,” says Julia Prats, professor of entrepreneurship at IESE. “In the past, we had to convert them.”

In the pilot course that took place between January and March, 20 students from the two schools joined six companies, where they worked closely with the CEO-founder on projects such as designing a business plan for a second round of venture financing.

“The impact is that in a very limited period of time, students get a fairly honest picture of what starting a company is all about — matching the business school theory with the mad, passionate act of creating and running a company,” says Peter Zabouji, INSEAD entrepreneur-in-residence, who got the idea for the Accelerator while teaching a course on writing business plans. Forty students will participate in September.

RICH IN RESOURCES. Mathieu Carenzo, an IESE graduate who took the accelerator course in January, certainly experienced the harsh reality of managing a fast-growth company. He and three fellow students landed at an Internet-related company that failed three weeks later when a fresh round of financing collapsed. Carenzo and his teammates then joined an information technology company specializing in data storage and helped the CEO write the business plan to help secure a loan from a U.S. bank.

“One thing you learn is that you can’t do everything yourself,” says the 30-year-old Frenchman, who aims to start his own company some day. “You need contacts, and you need a team.”

He should have plenty of people to pick from. At IESE, some 30% to 35% of graduates now begin their own company within five years. Creating European startups may remain tough, but today there’s more capital and talent available than ever before. The years of laying the foundation for a new industry are starting to pay off.

Mikel Arteta proved just how crucial he is to the Everton cause by returning to inspire this afternoon’s Barclays Premier League victory over Middlesbrough.

As well as having a hand in goals from free-scoring defender Joleon Lescott and a first in English football for the on-loan Steven Pienaar, the Spanish midfielder was outstanding throughout on his comeback from injury.

He was sorely missed in last weekend’s defeat at Aston Villa and the Uefa Cup first round first leg draw against Metalist Kharkiv and was simply too cute for Boro today.

The visitors lacked such a figure, but of more concern would have been their impotence in attack, with Mido and Lee Dong-Gook failing to impress.

Arteta was one of five changes to the Everton side beaten 2-0 at Villa Park, with Ayegbeni Yakubu given the nod to start against his former side after scoring in the midweek Carling Cup victory at Sheffield Wednesday.

Tim Howard reclaimed his place in goal and James McFadden and Alan Stubbs were also retained from Wednesday’s Hillsborough success.

Boro made two changes from their last league outing, recalling skipper George Boateng and Dong-Gook Lee for the injured Julio Arca and Tuncay Sanli.

Without a home win since the opening-day victory against Wigan and deprived of the misfiring Andrew Johnson (groin), Everton were looking to bounce back from two straight league defeats.

Boro were also struggling for form, having not won in their last three in all competitions. It was not a fixture which traditionally promised a glut of goals, yet the sides boasted just one Barclays Premier League clean sheet between them this term.

It did not take long for the scoring to begin either, Arteta proving his worth with a testing eighth-minute corner which Yakubu glanced goalward. Jonathan Woodgate headed off the line but Lescott was first to react, nodding the rebound into the opposite corner of the net.

Five minutes later and Boro wasted a glorious opportunity to level. Mido headed a cross down to the unmarked Gary O’Neil, who had time to steady himself but still scuffed his finish straight at Tim Howard.

Both sides were then guilty of glaring headed misses, Yakubu first when he somehow sent over a pinpoint Leighton Baines cross following a clever corner routine.

Lee followed when his effort from O’Neil’s centre cannoned off the crossbar.

Yakubu’s volleyed snapshot was straight down Mark Schwarzer’s throat and the Nigerian’s next contribution was a dive on the edge of the area for which he escaped a booking.

Schwarzer had to be more alert to clasp a deflected drive by the excellent Arteta.

It was meant to be Ladies Day at Goodison Park but there was nothing ladylike about O’Neil’s ankle-crunching challenge on Pienaar for which the midfielder was rightly cautioned.

Pienaar almost exacted revenge in the correct manner but he too failed to send a header on target, Tony Hibbert supplying the cross.

McFadden finally did test the goalkeeper from Baines’ centre but his aerial effort lacked any power. It sparked Everton’s most dominant spell of first half but their finishing continued to leave something to be desired. Boateng added his name to the growing list of poor headers after the break when he mistimed his jump for Stewart Downing’s corner.

Lee again demonstrated why he had failed to find the net in 14 previous Premier League appearances by volleying well wide. And the South Korean betrayed his frustration with a crude challenge on Lescott, earning him a yellow card.

Moments later, his side controversially fell two behind. Pienaar injured Boateng winning the ball 30 yards from goal, and the Boro skipper was still hobbling when Arteta broke into the box before squaring for the South African to slide a low finish across Schwarzer and into the net.

A raft of substitutions followed, Boro boss Gareth Southgate perhaps sending a message to both Mido and Lee by withdrawing both and deploying David Wheater as a makeshift centre-forward. It had little effect, with opposite number David Moyes afforded the luxury in stoppage-time of bringing off Arteta to a richly-deserved standing ovat

THE Seven Network has outlaid an extra $65.6 million on top of its $127 million takeover offer for Unwired to retire the convertible notes and options the struggling wireless internet company has on issue.

In its Bidder’s Statement released on Friday evening, Seven urged Unwired shareholders to accept the bid, warning their holdings will be seriously diluted if the company sought the estimated $200 million needed to build its planned WiMAX wireless network.

“In addition, Unwired may be required to refinance $37 million in convertible notes by December 28, 2009 if their holders do not elect to convert them or pay up to $60.5 million if the convertible notes are redeemed,” the Bidder’s Statement said.

“In the absence of the offer, Unwired shareholders may face requirements to contribute further capital to the company or face dilution of their holdings,” the bidders statement said.

Seven estimated its bid would cost $167.4 million, taking into account the convertible notes held by Mitsui and Intel and the 80.1 per cent of the company it does not already own.

In a bid to encourage Unwired shareholders to accept the bid quickly, Seven is offering to increase its 45 a share offer to 50 if it snares 90 per cent of the struggling wireless broadband company by November 8.

“If Unwired remains listed, Seven intends to seek additional equity funding for Unwired, sufficient to develop a WiMAX network,” Seven added.

Despite speculation Optus could launch a counter-bid, Unwired has so far provided few hints its Target’s Statement will raise any objections to the Seven offer.