Europe’s real startup problem: Not innovation, but IPO outcomes

Europe’s tech ecosystem is often judged by comparison to the US. The assumption is familiar: Europe doesn’t innovate fast enough, or think big enough. But the more you look at the data, the clearer the real issue becomes. Europe isn’t short on ideas, talent, or ambitious founders. It’s short on outcomes - because when its best companies reach maturity, they leave. The gap isn’t in creation. It’s in exits.

Why Europe loses its best scale-ups to US stock markets

Europe has no shortage of high-calibre startups. Revolut crossing 50 million customers is only the most recent example - a European-built company operating at global scale. But when firms reach this stage, the gravitational pull of US public markets becomes hard to ignore. Nickolay Storonsky (CEO of Revolut) has already ruled out a London listing, and few doubt where the company will ultimately go. Europe can build global winners; it just struggles to keep them.