Large economies don't automatically create Unicorns. Innovation certainly does!
6 economies stand-out in this race:
(2) #India is catching up quickly with 58 unicorns today - India has generated 22 new unicorns in the first 7 months of 2021!
(3) #UK stands tall in Europe with 31 unicorns - almost every other Fintech today has British roots.
(5) #Singapore's focus on creating an innovative ecosystem is certainly paying off - 7 unicorns already today, and a few more in pipeline.
While the above stand-out, Japan, Italy, Russia, Spain & Taiwan surprisingly have almost no unicorns.
These countries and many others need to build a stronger start-up ecosystem. Recent history of disruption has a huge learning for all of us - relying on innovation of yesterday is simply not enough for the future!