1、September 2023Reinventing our economy from withinHow Europes start-up ecosystems can learn from each other to ignite and scale up entrepreneurshipby Massimo Giordano,Karel Drner,Max Fltotto,and Tobias HenzExecutive summaryEurope1 is one of the worlds largest regional economies and has a long history

2、 of stable growth that has led to widespread prosperity.However,more recently,Europe has been falling further behind the United States.Not only has Europe experienced slower economic growth but also it lacks the key technologies of the future and foundational structures that support innovation,which

3、 is a trend that is expected to continue in the short term.This slowing growth may be a risk to Europes continued prosperity and international sovereignty.However,Europes national start-up ecosystems hold significant potential to reverse this economic trajectory;our analyses show the potential for s

4、tart-ups to add 3.6 million to 8.1 million additional jobs to the economy and contribute$1.2 trillion to$3.3 trillion in additional market capitalization.To achieve this potential,the individual start-up ecosystems will need to improve performance in two key areas:early-stage entrepreneurial activit

5、y,which is defined as the number of adults starting or running a new business,and the successful scale-up of existing start-ups.While there are already pockets of success in individual countries,select KPIs of a successful start-up ecosystem show promising levels compared to the United States and th

6、e rest of Europe to compete globally,both individual countries and the pan-European start-up ecosystem will need to become successful across all defining KPIs of a start-up ecosystem and orchestrate efforts to do so.Based on an in-depth analysis of the status quo of national start-up ecosystems,we d