Count of current $B+ companies per 1M inhabitants Estonia 4.5 Sweden 2.4 Switzerland 2.2 Norway 2.1 Malta 2.0 Ireland 1.8 Luxembourg 1.6 United Kingdom 1.6 Denmark 1.4 Netherlands 1.3 Cyprus 1.1 Finland 0.9 Lithuania 0.7 Germany 0.6 France 0.6 Austria 0.6 Latvia 0.5 Croatia 0.5 Slovenia 0.5 Belgium 0.4 Czech Republic 0.4 Spain 0.3 Portugal 0.2 Bulgaria 0.1 Poland 0.1 Romania 0.1 Italy 0.1 Ukraine 0.1 Notes: 0 1 2 3 4 5 Data is as of 30 # of current $B+ companies per 1M inhabitants September 2023. '$B+' or 'unicorn' is deļ¬ned as a tech company that has reached $1B+ Sources: valuation in its lifetime. Population data from International Monetary Fund. | 124
State of European Tech | 2023 Page 123 Page 125