Sadly, I think EU citizens have to use the H1B visa or else one of the special-important-expert-person visas I know nothing about.
I'm from Spain. My F1 visa allows to me work for my own business for 29 months.
That's great if you happen to be studying in the US, but I suspect it's not going to work for those of us who would like to work on our startups full time.
You can work on your startup full-time on an F1 visa after you complete your studies in the US.