It's not about funding, it's about culture. In Europe, no good developer wants to work at a startup - they want to work in a large century-old semi-government company which provides long paid vacations, slow work pace and work-life balance. No one wants to fund a startup either. Almost no way to exit. And whole "industry disruption" thing is even inappropriate to talk about - you are supposed to go with the flow and play by the numerous formal and informal rules and uphold hierarchy.