I'd focus on building a modern product that is easier to use, has more transparent pricing and better support, and makes transitioning from AWS/Azure/GCP a breeze. Start simple, and keep iterating. Start with a platform where I can easily deploy my favorite popular web framework and hook it up to a popular SQL database. Most companies just have a web application with a database. Make it super simple to get off App Engine/Elastic, Cloud SQL/RSD GCP/AWS Storage. Get small and midsize customers to switch, and then keep iterating up to big companies. They'll come if the tech and service is solid. It is not that hard to beat the big American cloud providers at this. Their services are bloated, difficult to understand, have poor service, and terrible pricing models.<p>The reason most EU companies don't want to switch now is because alternatives suck even more and it cost too much time and effort.