Snapshot of unique companies headquartered in Europe by stage Early stage companies Growth stage companies $1B companies Notes: Data as of 30Sep 2023. Based on historial analysis of conversion rates: 15% Sources: Powered by of Seed stage companies convert A on average and 33% of Series A convert to Series B(for the majority of those converting, it takes place within 2 years); these rates have been applied to the current cohort of Seed and Early stage companies for illustrative perposes. Europe’s blend of purpose, talent and investment potential is unrivalled, putting it on a clear trajectory to becoming the next tech superpower. Erin Platts CEO, HSBC Innovation Banking UK Startup creation in Europe outpaces any region and we expect the breadth and depth of this activity to grow, with 25,000 more in the next 昀椀ve years. What sets us apart is not only the pace of growth – it’s local investors stepping up to support mission-driven founders that bring together the best and brightest to solve critical challenges. Sustainability and climate in particular have been at the heart of the European ecosystem, with the Energy & Carbon sector attracting the most VC investment this year alone. The rise in funding for growth stage companies and the potential for more IPOs in 2024 also sets the scene for a maturing tech ecosystem in Europe, unlocking more pathways to growth for purpose-driven founders. | 56