UK takes top spot in Europe for GenAI startups, Accel says

The United Kingdom is home to the biggest number of generative AI (GenAI) startups across Europe and Israel, followed by Germany and Israel, according to a study by venture capital firm Accel.

Accel analysed 221 GenAI startups and found that 30% were founded in the UK, 14% in Germany, and 13% in Israel, with France home to 11% and the Netherlands 6%.

GenAI is artificial intelligence capable of generating text, images, videos or other data, based on models developed using huge quantities of information. Britain's top universities, its track record in forming AI company Deepmind in 2010, and investment from U.S. tech giants in the country have all helped to bolster its status in AI.

Despite this, GenAI companies founded in France lead the way in raising funding, attracting $2.29 billion, followed by the UK on $1.15 billion, Accel said.
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