A major feature of the Fourth Industrial Revolution is the decentralization of innovation. Historically, innovation came from legendary laboratories or the state-of-the-art research campuses of large corporations and educational institutions. Now the next big breakthrough is likely to come from a suburban garage, cramped apartment or college dorm room. This new wave of inventiveness is fuelled by entrepreneurs who are the vanguard of innovative thinking in the new economy and are a core component of a dynamic society. Fostering entrepreneurship pays dividends across sectors and allows new ideas, models and energy to invigorate the entire international economic system. Entrepreneurship is a key driver of the Fourth Industrial Revolution and the reason the World Economic Forum and the Global Entrepreneurship Monitor (GEM) have partnered to explore it within one of the world’s crucial economic engines: Europe. In partnership with the Global Entrepreneurship Monitor (GEM), the World Economic Forum undertook this study to explore the truth behind the perception that Europe lacks entrepreneurship. The results presented here show that, in fact, entrepreneurs are thriving in some parts of Europe. However, their successes are often obscured by the fact that many entrepreneurs work within organizations rather than in new business start-ups.