The city wasn't among the four selected for the final, with the winner due to be announced later this year.
Stirling has missed out on the chance to be named UK City of Culture 2025.
The city's not made the shortlist for the award.
The bid had received the backing of more than 200 local businesses, Stirling University, and Stirling Council.
Bradford, Wrexham, County Durham and Southampton make up the final four - with a winner announced later this year.
Carol Beattie, Stirling Council Chief Executive, said: “Today’s news leaves us all feeling slightly deflated but we are not disheartened. The people of Stirling should still be extremely proud of what they have achieved and I would like to thank everyone who has worked so hard to get us here.
“The backing we received from across Stirling and indeed the whole of Scotland has been overwhelming. Sharing our stories of how people in Stirling are changing lives through the power of culture has been inspirational.
“The competition has also restored a sense of civic pride and optimism after the challenges of the pandemic.
“We have built strong partnerships across our communities that will help us unleash Stirling’s distinctive and inclusive cultural potential. We are working together and are more determined than ever to deliver on our cultural ambitions for the people of Stirling.
“Today is not the end, it’s the start of another exciting chapter. Stirling is alive with culture.”
Kevin Harrison, Manager of Scene Stirling, which represents the city’s arts and cultural partners, said: “We’ve been on an incredible journey these past few months and it doesn’t end here.
“We’re committed as ever to working together to realise Stirling’s arts and cultural ambitions and now we have the road map to get us there.”