When it comes to starting a business, talent is always top of my mind. Tania Boler Founder & CEO, Elvie For this reason, the UK is a great place to start a business. 84% of research at our universities is either “world-leading” or “inter- nationally excellent” and we also have one of the most mature start-up ecosystems globally which allows us to build on histori- cal successes and failures. Yet, signi昀椀cant differences between ecosystems prevail The distribution of ecosystem values varies by regions, but in the past 昀椀ve years, has stayed quite stable. France & Benelux take home the biggest share at 35%. This is largely thanks to their signi昀椀cant public market value and the Netherlands being home to ASML, the largest European listed tech company. SAP in Germany is the next biggest public tech giant in Europe, boosting DACH into tied second place overall with 23%. On the 昀氀ip side, the UK & Ireland is home to the largest share of private tech, bringing its overall share up to 23%. Together, these three regions capture 81% of the combined ecosystem value in 2023, again underscoring the prevailing disparities across different parts of Europe. That said, the rest of Europe has done some catching up, increasing their share of the pie from 15% in 2019 to 19% in 2023. | 126