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In search of EU unicorns - What do we know about them?

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Abstract

This paper provides insights into the geographical and sectorial distribution of EU unicorns. Using the Unicorn club data from Dealroom up to mid-2021, it explores where they are located, how old they are and how they reached unicorn status. The analysis takes the form of a comparative study of unicorns from the EU, the US and China. We compare the three locations in terms of the age of companies at which unicorn status is reached, the number of financing rounds and the overall amount of financing raised by the time unicorn status is attained. We also profile the top investors in European unicorns and their acquisition strategies. We then look at the unicorn founders in terms of gender, place of origin and educational background. Finally, we discuss the role of government intervention, in particular of the European Innovation Council, in supporting the development of fast-growing companies.

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  • Giuseppina Testa & Ramón Compañó & Ana Correia & Eva Rückert, 2022. "In search of EU unicorns - What do we know about them?," JRC Research Reports JRC127712, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc127712
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    File URL: https://publications.jrc.ec.europa.eu/repository/handle/JRC127712
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    Keywords

    unicorn; startups; scaleups; venture capital; finance; innovation;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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