The UK leads Europe in housing the highest number of future unicorns

Report by Swedish venture capital firm Creandum highlights Europe's growth as a global tech contender, with its share of global VC funding increasing from 5% in 2003 to 16% in 2023. The UK dominates European tech, attracting the most investment, producing the most unicorns, and achieving the highest combined value.

The report shows that the UK is home to 34% of Europe's future unicorns, followed by the rest of Europe at 22%, France at 16%, and Germany at 15%.

Europe currently has 514 unicorns across 25 countries and 65 cities, with London, Paris, and Berlin leading in numbers. Additionally, the UK has produced the most unicorns since 2021 and secured the most VC investment in the first half of 2023 in Europe.

However, the Nordics surpass the UK in terms of VC funding for climate tech, with the UK accounting for 24% and the Nordics for 36% of global investments.

Europe's tech scene has undergone significant growth in the past two decades, and has the potential to lead the world in various innovation fields, including climate tech and AI.