Towards a European Tech Champions League – The case for European Big Tech

Europe has plenty of startups, but lacks breakthrough, mega-scale companies. Making the case for big tech in Europe. Prosus x Dealroom report.

Key findings

• The seven largest US tech firms were worth US$17 trillion combined in February 2025, against US$0.8 trillion for Europe's seven largest.
• Nine of the world's top 20 scientific tech clusters are in Europe, with Cambridge third and Oxford fifth on Dealroom's weighted ranking of the hubs.
• Dedicated AI expertise covers 1.4% of Europe's software engineers, against 1.1% in the US and 0.5% in China, the highest share of the three regions.
• In 2024 the Magnificent 7 invested US$45 billion in startups, more than all venture capital invested in the EU27, while European Big Tech invested US$1 billion.
• US startups raised US$120.8 billion in rounds above US$100 million in 2024 against US$18.1 billion in Europe, the stage where the gap is widest.