News > Europe tops China in spawning $1 billion tech startups

Europe tops China in spawning $1 billion tech startups

Europe has overtaken China in creating billion-dollar tech startups, according to a new analysis that points to Europe’s rising status in the field and the effect of Beijing’s crackdown on capitalist entrepreneurialism.

Both economies still lag behind the U.S. in creating so-called unicorns. The U.S. still leads Europe and China with 1,178 unicorns, of which 384 were added this year, according to Atomico.