Europe is not producing many global tech giants compared to the US despite having a strong startup ecosystem.
Europe has created more high-tech startups than the US, but the EU is not achieving similar levels of success.
Study highlights the barriers preventing European startups from scaling up and describes how to overcome the obstacles.
Scaleups are entrepreneurial ventures that have reached product-market fit and are now focused on exponential growth.
Europe's relatively lower R&D spending and limited access to capital make scaling up more challenging than in the US.
Strategies to revive Europe's tech ecosystem and usher in an era of innovation include active participation of pension funds, bolstering innovation hubs and incubators, and reducing barriers to cross-border integration.
Europe needs to learn from Silicon Valley's success in venture capital and technology scale-ups to drive innovation.
Without significant investment in innovation, it may be some time before Europe produces a global tech giant.