I've worked for a few start-ups in Europe. We have real problems around the scale-up stage, venture capital and taxes + regulations are making things harder than it should be but it would be wrong to assume that there's no (successful) startups at all.
Spotify, Ayden, Revolt and N8N are some examples that come to mind.
Also, whenever something is mildly successful, some foreign investor fund will swing a nice back of money in front of the founders and *poof* European company gone.