A new generation of tech ‘rocketship’ companies are giving Europe its mojo back, but London is lagging, writes Christoph Klink

The European tech ecosystem finally has its confidence back. A new generation of ‘rocketships’ – startups like Lovable and Mistral that were founded after 2020 and have already achieved and maintained unicorn status – are proving that European companies can scale. And as fast as anywhere in the world.

While it has historically taken European startups more than seven years to reach unicorn status, rocketships are doing it in just two.

That is virtually identical to the 1.6 years it takes in the United States. So whilst European startups can’t out-raise their US counterparts for the foreseeable future, they are certainly able to out-execute them.

But for a city that has grown used to being the unicorn capital of Europe, rocketships aren’t taking off from London just as frequently as one would expect yet. In fact, only one of the 14 rocketships in Europe is based in London. It seems that momentum is largely driven by builders in Paris, Stockholm and Berlin.........

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