Europe and Israel are producing more startup 'mafias' than ever despite tech rout

Of Europe and Israel 's 353 venture-backed unicorns, 221 have spun out 1,171 new tech-enabled startup companies.

Employees at these firms left to start up their own ventures, according to a new report from Accel VC

The Accel opment mimics trend of startup "mafias" in the U.S. where companies like PayPal indirectly helped pr Spotify uge businesses l 32 e Tesla and Pala Delivery Hero year, more than $4 32 billi Criteo wiped off th 31 value of Europe's tech industry, according to data from Atomico.

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