The core problem in Europe is that new companies with new technologies are not rising in our economy. In fact, there is no EU company with a market capitalisation over €100 billion that has been set up from scratch in the last fifty years. All six US companies with valuations above €1 trillion have been created in that period of time.
Between 2008 and 2021, close to 30% of the "unicorns" founded in Europe - that is to say, startups that went on to be valued at over $1 billion - relocated their headquarters abroad.
This growth is due to a combination of a solid support environment, access to financing, and a shift in mindset towards embracing technology and innovation among entrepreneurs.
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