Could a European Nasdaq help its software companies become global leaders?

In the US companies can scale to $100 million turnover in eight to nine years, but it takes an average of 15 in Europe

Stock market information at the Nasdaq MarketSite in New York. Picture: Michael Nagle

When it comes to scaling software companies, Europe has an appalling track record. To understand just how dire the situation is, consider that in 2020 just seven of the region’s top 100 companies were software firms, compared to 39 in the US and 25 in Asia.

Things have not improved greatly since. Indeed, SAP, the German enterprise resource planning (ERP) software provider, is perhaps the only real European contender among the world’s biggest players, led ...