🟢 Europe lags US in unicorn conversion. Why? The data might surprise you.

Europe’s startup ecosystem has been facing criticism lately, with many saying it’s losing its edge. Here’s the thing — when it comes to converting startups into unicorns, Europe is still behind the US.

The difference isn’t that stark. But why does it exist in the first place?

Let’s break it down.

2x startups — 4x unicorns.

Here’s the reality. While US has ~2x startups raising $1M+, it produces ~4x the unicorns.

This means? Europe converts startups into unicorns at slower rate (0.8% Europe vs 1.9% US).

But why?