While such rankings are often quite subjective, in particular when done by organizations who actually do not understand startup businesses first hand (universities, WEF...), this one here by Startup Genome seems to have the right criteria and weights them also properly:
https://startupgenome.com/article/methodology-gser2023
- Performance: 30%
- Funding: 25%
- Market Reach: 15%
- Connectedness: 5%
- Talent & Experience: 20%
- Knowledge: 5%
So how did Europe do:
2: London
5: (Tel Aviv), not really Europe as linked to the US but distance-wise close
13: Berlin
14: Amsterdam
18: Paris
22: Stockholm
36: Zurich (for claiming Switzerland would be innovation leader quite low IMHO, but we know of course that statistic is only valid for one industry only namely the pharmaceutical)
37: Munich (this is a bit surprising to me I must say, with all the money invested I would have thought they are higher but let's see how this develops)
39: Helsinki
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