European digital entrepreneurship flourishes, propelled by leading countries in the EIDES 2020 rank and unprecedented venture capital investments.
- London remained Europe’s leading tech hub, with companies raising $18.4 billion—more than double that of Berlin-based firms—and adding 20 new unicorns in 2020. || Source: Tech EU
- However, according to the 2020 European Index of Digital Entrepreneurship Systems, Denmark, Sweden, and the Netherlands rank at the top. || Source: European Commission
- Venture capital investment in Europe hit a record €20bn in 2021, a 70 percent increase from 2020. 5,334 companies, representing about 60 percent of the year’s total, received funding. || Source: Invest Europe
+ Based on a 2018 survey, 19.1 percent of European startups identified as IT or software development, followed closely by 18.5 percent as Software as a Service (SaaS) startups. || Source: Statista - The EU lags in tech innovation investments compared to leading economies. For example, 80 percent of global private equity investments in artificial intelligence go to US and Chinese companies, while only 8 percent go to European companies. || Source: Oliver Wyman
