Delaware
Index Ventures partner: Why Europe needs a Delaware | Fortune
In 1913, a tiny American state made a calculated bet that would reshape the global economy.
When New Jersey suddenly came down hard on business, neighbouring Delaware decided to rewrite its rulebook to scoop up companies fleeing the state. It created a simple registration system, stripped away corporate bureaucracy, and invited the nation’s companies to call it home. Hoping to attract steam engines and gunpowder manufacturers, Delaware’s leaders could scarcely have imagined that, a century later, the ‘Delaware Inc’ model would serve as the foundation for smartphones, search engines and electric cars. In other words, it would become the corporate vehicle that underpinned the world’s most valuable and transformative businesses.
Europe needs its own Delaware. While the continent has shown itself more than capable of producing extraordinary entrepreneurs and breakout global companies like Adyen, Spotify and Revolut, its founders must still overcome huge barriers to scaling compared with the U.S. The numbers tell a sobering story, as MIT’s principal research scientist Andrew McAfee has pointed out. Publicly traded companies started from scratch in Europe in the past 50 years are collectively valued at around $420 billion, while their U.S. counterparts approach $30 trillion – almost 70 times as much. All six U.S. companies with a market cap over $1 trillion have been set up in the past half century; not a single EU equivalent has.
This chasm exposes the fragmentation that’s holding back European innovation. A startup with a Delaware Inc. can raise capital and expand from coast to coast across the US without breaking its stride. Investors know the structure. Deals and hiring happen fast, and the company’s momentum compounds. Meanwhile, a founder scaling across Europe must incorporate separate entities in each country, untangle regulatory and employment codes in multiple languages and markets, and explain to engineers in Munich why their stock options are treated differently to their colleagues’ in Madrid.
The European single market doesn’t extend to startups
The reality is that when it comes to startups, there is no European single market, only 27 different countries. The consequences are stark: stifled momentum, unrealized potential, and an artificial limit on startups’ chances of success. A year ago, Mario Draghi, former Italian Prime Minister and President of the European Central Bank, published a landmark report that sounded the alarm on EU competitiveness and called for an additional €800 billion per year in investment. Draghi noted that Europe captures just 5% of global venture capital funds, while the US commands 52%. This means VC investment in the EU is just 0.05% of GDP, nearly six times lower than in the US at 0.32%. More than 60% of European companies cite regulation as an obstacle to investment, and most see it as their biggest challenge overall.
This is a crisis for Europe unfolding in real time. The continent that invented and spun out the internet from its first-class research institutions now risks standing by as US founders scale with ease.
But there’s a way forward and close the gap. Momentum is building behind the idea of ‘EU–INC’ – not a carbon copy of the Delaware model, but a fresh, pan-European corporate entity that will set a new global standard for business formation. If EU Inc is realized, it will allow founders to launch, raise capital, hire and grow seamlessly across Europe. A founder in Stockholm could incorporate in minutes, access standardized investment documents recognized from Berlin to Barcelona, implement EU-wide employee stock options, and scale across 450 million consumers.
The grassroots movement behind EU–INC has garnered over 18,000 signatories and support from Europe’s most successful entrepreneurs and investors, including leaders from Mistral, DeepMind, Stripe, Supercell, Index Ventures and Y Combinator. The major EU decisionmaking institutions have expressed approval, and EU Commission President Ursula von der Leyen has committed to reform.
The bad news is that there are already murmurs in Brussels about piecemeal, incremental measures – harmonizing certain national laws, creating yet another framework for EU member states to fuss over and interpret. This is folly. The problem of fragmentation must be fixed at the heart of Europe. Half measures will not solve founders’ problems, nor will they create the competitive advantage that Europe so desperately needs.
Delaware’s 1913 gamble helped spark a century of American dynamism. Creating an EU–INC could make Europe the undisputed seedbed of innovation – the best place in the world to found, fund and scale a company. Europe doesn’t need another directive or committee. It needs its Delaware, and it needs it now.
More information is available at eu-inc.org.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.
The Delaware Lottery offers several draw games for those aiming to win big.
Here’s a look at Monday, April 20, 2026 results for each game:
Winning Powerball numbers from April 20 drawing
09-17-36-47-64, Powerball: 26, Power Play: 3
Check Powerball payouts and previous drawings here.
Winning Play 3 numbers from April 20 drawing
Day: 2-2-8
Night: 4-8-2
Check Play 3 payouts and previous drawings here.
Winning Play 4 numbers from April 20 drawing
Day: 5-8-5-9
Night: 8-8-4-8
Check Play 4 payouts and previous drawings here.
Winning Multi-Win Lotto numbers from April 20 drawing
02-04-06-10-11-25
Check Multi-Win Lotto payouts and previous drawings here.
Winning Lotto America numbers from April 20 drawing
05-07-31-41-43, Star Ball: 07, ASB: 02
Check Lotto America payouts and previous drawings here.
Winning Play 5 numbers from April 20 drawing
Day: 1-5-6-0-1
Night: 0-6-7-5-5
Check Play 5 payouts and previous drawings here.
Feeling lucky?Explore the latest lottery news & results
Are you a winner? Here’s how to claim your lottery prize
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Sign the Ticket: Establish legal ownership by signing the back of your ticket with an ink pen.
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Prizes up to $599: Claim at any Delaware Lottery Retailer, in person at the Delaware Lottery Office, or mail your signed ticket and claim form; print your name/address on the ticket’s back and keep a copy/photo for records. By mail, send original tickets and documentation to: Delaware Lottery, 1575 McKee Road, Suite 102, Dover, DE 19904.
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Prizes up to $2,500: Claim in person at Delaware Lottery Retailer Claim Centers throughout Kent, Sussex and New Castle Counties.
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Prizes of $5,001 or more: Claim in person at the Delaware Lottery Office (business days 8 a.m. to 4 p.m.) with a photo ID and Social Security card.
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For all prize claims, directions to the Delaware Lottery Office are available online or via mapquest.com for a map.
Check previous winning numbers and payouts at Delaware Lottery.
Can I claim a jackpot prize anonymously in Delaware?
Fortunately for First State residents, the Delaware Lottery allows winners remain anonymous. Unlike many other states that require a prize be over a certain jackpot, Delawareans can remain anonymous no matter how much, or how little, they win.
How long do I have to claim my prize in Delaware?
Tickets are valid for up to one year past the drawing date for drawing game prizes or within one year of the announced end of sales for Instant Games, according to delottery.com.
When are the Delaware Lottery drawings held?
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Powerball: 10:59 p.m. Monday, Wednesday, and Saturday.
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Mega Millions: 11:00 p.m. on Tuesday and Friday.
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Play 3, 4: Daily at 1:58 p.m. and 7:57 p.m., except Sunday afternoon.
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Multi-Win Lotto: 7:57 p.m. Monday, Wednesday, and Friday.
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Lucky for Life: Daily at 10:38 p.m.
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Lotto America: 11:00 p.m. Monday, Wednesday, and Saturday
Missed a draw?Peek at the past week’s winning numbers.
This results page was generated automatically using information from TinBu and a template written and reviewed by a Delaware Online digital operations manager. You can send feedback using this form.
This article originally appeared on Delaware News Journal: Delaware Lottery Powerball, Play 3 Day winning numbers for April 20, 2026
MUNCIE, IN — Five individuals and one organization were recognized for their contributions to Delaware County during the annual ViVA (Very Important Volunteer Award) luncheon on April 14, according to a community announcement.
The event, hosted by the Muncie Noon Rotary Club in partnership with the Muncie Sunrise Rotary Club, has been a tradition since 1993. The ViVA Awards celebrate those who dedicate their time and resources to uplift the community.
Vickie Armstrong Oliver, Ken Glaub, Dottie Kreps and Beth Kroehler each received individual ViVA Awards for their volunteer efforts and commitment to various causes.
The Muncie Central High School Alumni Association was presented with the 2026 ViVA Organizational Award. Since 1995, the association has supported the high school through philanthropy and historical preservation.
The association has awarded more than $76,000 in scholarships to seniors and nearly $39,000 in teacher grants. It has also financed various campus needs, including the restoration of the school’s Abraham Lincoln statue. The board maintains a public Memorabilia Room to preserve the school’s legacy.
Linda Gregory received the Edmund F. Ball Lifetime Achievement Award for her lifelong dedication to service in the community.
The ViVA Awards luncheon served as a reminder of the generosity and compassion that define Delaware County’s volunteer heritage, according to the announcement.
This story was created with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at cm.usatoday.com/ethical-conduct.
The Delaware Marathon Run Fest on Sunday ended with a photo finish that proved nothing is over until it’s over.
In a video taken by the Instagram user @aktiv8edleem and shared with NBC10, a runner is seen jogging in the lead with his arms raised as if he’s won. But then, another man sprints up the final stretch and passes him for the win.
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