TechCrunch EU brings us this sobering story about the european funding scene. Mashape spent 2 years looking for funding in Italy. They met with every investor they could find, but nothing happened.
Then in September 2009, Marco and his team mates headed to San Francisco, where they were able to demo a simple prototype of their product at TechCrunch50. It was after this experience that the team decided they would pack their bags and move across the Atlantic for good.
And then they got their seed funding. In 19 days. Draw your own conclusions about european investors.