According to MoneyTransfers, the UK is home to the highest number of European unicorn start-ups. The site has released a presentation showing that the UK has 47 unicorn start-ups.
Germany takes the second spot with 30 firms while France takes the third slot with 28. Sweden (8) and the Netherlands (7) follow a distant fourth and fifth, respectively.
So What’s Behind The UK’s Prominence in the Unicorn Scene?
According to MoneyTransfers CEO Jonathan Merry, UK’s prominence here is due to several factors. He explained:
“One reason is that the UK has a very strong start-up sector. This is thanks to London’s status as a global financial center, as well as its strong tech sector. Different businesses have been able to tap into these advantages leading to some major successes.”
He added that the UK has a robust entrepreneurial culture. The country has a well-developed venture capital market, meaning ample start-up funding is available. Consequently, firms can achieve high valuations relatively quickly.
Uk and Germany Dominate Europe’s top 10 Unicorns
MoneyTransfers’ presentation showed that the UK and Germany are clear front runners regarding the top 10 unicorns in Europe. They dominate the list with six and three unicorns, respectively. Additionally, the UK’s Checkout.com tops the list with a roughly $40 billion valuation.
So, what’s behind this domination? Merry explains that both countries have large economies and vibrant tech sectors. They also have a history of successful start-ups, with a lot of experience and funding available to help new companies get off the ground.
Another important factor is access to capital. Both the UK and Germany have a lot of venture capitalists who are willing to invest in high-growth start-ups. This enables companies to grow quickly and reach a larger scale.
Finally, both countries have a robust infrastructure for start-ups. That includes good laws and regulations and a supportive ecosystem of incubators, accelerators, and mentors. All of this helps entrepreneurs to succeed and grow their businesses. Full story and statistics can be found here: The UK Has the Most Billion-Dollar Start-Ups in Europe at 47