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European Investment Bank to boost funding for EU tech startups

Economic Times · 1m

- The European Investment Bank proposes to support the EU venture capital and private equity markets to close the funding gap for innovative start-up companies. - The initiative aims to retain innovative start-ups in Europe, which often relocate to the United States due to easier access to financing. - The EIB will expand the European Tech Champions Initiative, a fund of funds that provides late-stage capital to European innovators. - The EIB will boost equity and venture debt investments and create a dedicated fund for financing acquisitions and listings of tech start-ups by European firms. - The goal is to ensure European companies and technologies stay in Europe, reinforce Europe's competitiveness, and meet climate goals by investing in new, climate-friendly technologies. - The funding strategy aims to strengthen Europe's capital markets, enhance their integration, and fund successful European companies.