Europe Lags in Unicorn CreationWhats Holding It Back?

European Union flags fly outside the EU Commission headquarters in Brussels, Belgium. Yves Herman/ReutersEurope’s structural barriers, including fragmented markets and limited late-stage capital, are holding back many firms from scaling into billion-dollar unicorns, analysts say.A unicorn is a privately held startup company valued at more than $1 billion. Europe trails the United States and China in producing unicorns, and European Union policymakers are now scrambling to close the gap.