The US and Europe continue to be the most prominent geographies in the global startup ecosystem, but still with clear differences in scale and concentration. According to StartupBlink’s 2025 Global Startup Ecosystem Index, the US remains the top performer by a wide margin, dominating both in number and quality of ecosystems, number of startups, unicorns and corporates involved in startups. This article compares the latest 2025 data on top startup cities in both regions.
This article compares the latest 2025 startup data between the top-performing cities in each region, based solely on StartupBlink’s proprietary scores and methodology.
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Startups in Numbers: Scale vs. Diversity
In terms of volume, the United States leads with over 71,000 startups, making it the world’s largest startup economy. Yet this scale is highly concentrated: San Francisco alone hosts more than 7,800 startups, over 11% of all US startups. New York and Los Angeles follow closely, together reinforcing a tight cluster of high-density innovation.
Europe, with just over 58,000 startups, ranks slightly behind in total count but follows a very different structural model. Activity is spread more evenly across multiple hubs. London, Paris, and Berlin, Europe’s top three ecosystems, collectively host around 13,500 startups, accounting for 23% of the continent’s total. London leads with over 8,600 startups, Paris contributes nearly 2,800, and Berlin adds more than 2,000.
Unicorns Race
The United States leads Europe by a wide margin in unicorn creation, with 611 unicorns in 2025 compared to Europe’s 134. Just two U.S. cities — San Francisco (271) and New York (124) — account for over 64% of the U.S. total and individually outperform any European country. Other American cities like Los Angeles, Boston, and Austin also contribute significantly to the unicorn count.
In contrast, Europe’s unicorns are more geographically spread but much fewer in number. The UK (52), France (30), and Germany (29) lead the region, together representing over 60% of Europe’s total — but none come close to the top-performing U.S. cities.
While Europe continues to grow a broader base of startup hubs, the U.S. remains far ahead in both the number and concentration of billion-dollar startups.
Startup Ecosystems: U.S. vs. Europe in 2025
In 2025, the United States continues to lead the global startup landscape. It has 32 cities in the top 100, including 7 in the top 20. San Francisco (#1), New York (#2), Los Angeles (#4), and Boston (#6) are at the top, showing the strength of U.S. ecosystems.
Other strong U.S. hubs include Seattle (#15), Austin (#16), and Chicago (#19), proving that top-tier innovation is spread across the country — not just limited to a few major cities.
Europe has 29 cities in the top 100 but only 3 in the top 20: London (#3), Paris (#8), and Berlin (#14). While London leads in Europe, it still ranks far behind San Francisco and New York, highlighting a clear gap.
Cities like Stockholm (#24), Amsterdam (#26), and Barcelona (#33) are climbing, showing promise for Europe’s second-tier hubs. However, the region remains underrepresented among the world’s top startup ecosystems.
In short, the U.S. stands out in both number and performance of top startup cities, while Europe offers more geographic diversity but fewer cities at the top of the rankings.
European startup ecosystems are growing faster than those in the US
In 2025, the pace of ecosystem growth tells a different story than total dominance. While the United States still leads in global rankings, its startup cities are expanding at a steadier, more mature rate. According to StartupBlink’s 2025 Index, American cities in the global top 100 grew by an average of just 11.1%.
In contrast, Europe’s startup hubs are gaining momentum fast. The average growth rate for European cities in the global top 100 is 27.2% — nearly two and a half times higher than that of the US. Cities like Paris (+34.6%), Barcelona (+40.4%), Stockholm (+32.5%), and Amsterdam (+31.7%) are all climbing quickly through the ranks, signaling a late but powerful surge in European innovation.
This gap reflects the difference in maturity: American ecosystems, especially top performers like San Francisco and Los Angeles, are more saturated and growing incrementally. European cities, by contrast, are still accelerating — with younger, rapidly evolving ecosystems that are pushing the region forward.
Over the past five years, Europe’s top ecosystems have shown stronger upward mobility than their American counterparts. While many U.S. cities—especially outside the top 10—have seen stagnation or declines in rank, European hubs like Barcelona (+5), Brussels (+20), Oxford (+10), and Lausanne (+10) are climbing. London, Paris, and Stockholm have all held or improved their positions at the top.
In contrast, major U.S. ecosystems like Seattle (-3), and Chicago (-2) have dropped, with only a few cities like Austin (+2) and Miami (+2) making gains. The broader trend shows that while the U.S. remains dominant, Europe’s ecosystems are advancing steadily in the rankings.
Corporate Involvement: United States vs. Europe
The 2025 Corporate Startup Activity Index ranks 372 corporations worldwide based on the scope and variety of their startup programs. In this Index, the US dominates corporate innovation, with 172 of the 372 corporations in the Index — 46% of the total. Nine of the top 10 are American giants like Amazon, Google, and Microsoft, each running multiple initiatives from accelerators to acquisitions.
Europe has 106 corporates (28%) in the Index, but tends to focus on fewer, more specialized efforts. Only 14 appear in the top 50, and just one — Telefónica — ranks in the top 15.
This imbalance shows not just scale, but a stronger US commitment to startup integration through bold, cross-sector strategies.
Download the 2025 Corporate Startup Activity Index to explore how 372 corporates collaborate with startups worldwide.
Conclusion
As of 2025, the United States still leads the global startup ecosystem—ranking highest in overall strength, unicorn count, and industry depth. Its top cities continue to shape global innovation. But that dominance is no longer unchallenged.
Europe is closing the gap. While it hasn’t matched the US in raw numbers, its cities are rising faster and spreading innovation more broadly across the region. From 2022 to 2025, the data points to a shift: US leadership remains strong, but Europe’s growth is gaining momentum.
In the years ahead, much will depend on how ecosystems respond to evolving trends—sector focus, public investment, and intensifying global competition. The US is still ahead, but Europe is moving up fast.
Want to explore the full data behind the trends? Download the Global Startup Ecosystem Index 2025 for rankings and insights on 1,400+ cities and 110+ countries worldwide.
