Commission Joins Forces with Venture Capital to Support Deep Tech Innovation in Europe

European CommissionThe Commission has launched a Trusted Investors Network bringing together a group of investors ready to co-invest in innovative deep-tech companies in Europe together with the EU. The Union's investment comes from the European Innovation Council (EIC) Fund, which is part of the EU research and innovation programme Horizon Europe.

The first group comprises 71 investors from across Europe, including venture capital funds, public investment banks, foundations and corporate venture funds. These investors collectively represent over €90 billion of assets, which positions the network as a key initiative to mobilise capital for Europe's deep tech sector.

Following preparatory meetings with investors earlier this year, Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education and Youth, launched the network at an event in Athens. The participants committed to a Trusted Investors Network Charter, setting out shared values to build companies in Europe, and to co-investing with the EIC Fund. Members of the network will work together with support from the EIC to boost investment and exchange best practices when investing in the deep tech sector.

The launch responds to the need to increase financing of such companies to grow in Europe. It provides the foundation for further development in 2025, in line with the political guidelines of the next Commission.

It highlights the growing importance of the EIC Fund which has by now invested nearly €1 billion in 251 of Europe's most promising start-ups. The EIC Fund has attracted co-investments of over €4 billion from around one thousand investors, leveraging over €4 for every €1 invested. The Trusted Investor Network will further strengthen these co-investments and enable companies in critical technologies areas to access larger investments needed to compete globally.

The launch was part of the first EIC Scaling Summit, bringing together for the first time 120 companies selected from the EIC portfolio and national programmes with the potential to scaleup and become global champions in their fields. 72 of these companies were added today to the 48 members already enrolled in the EIC Scaling Club. The EIC provides tailored support to the members of the Club, aiming to scale 20% of them into unicorns - companies with a valuation exceeding €1 billion. Collectively, these member companies have raised over €73 million to date, with additional funding rounds expected soon.

For further information, please visit:
https://eic.ec.europa.eu/eic-fund/tin_en

Most Popular Now

Study Sheds Light on Hurdles Faced in Tr…

Implementing artificial intelligence (AI) into NHS hospitals is far harder than initially anticipated, with complications around governance, contracts, data collection, harmonisation with old IT systems, finding the right AI tools...

Using Deep Learning for Precision Cancer…

Altuna Akalin and his team at the Max Delbrück Center have developed a new tool to more precisely guide cancer treatment. Described in a paper published in Nature Communications, the...

AI-Powered CRISPR could Lead to Faster G…

Stanford Medicine researchers have developed an artificial intelligence (AI) tool to help scientists better plan gene-editing experiments. The technology, CRISPR-GPT, acts as a gene-editing “copilot” supported by AI to help...

Groundbreaking AI Aims to Speed Lifesavi…

To solve a problem, we have to see it clearly. Whether it’s an infection by a novel virus or memory-stealing plaques forming in the brains of Alzheimer’s patients, visualizing disease processes...

AI Spots Hidden Signs of Depression in S…

Depression is one of the most common mental health challenges, but its early signs are often overlooked. It is often linked to reduced facial expressivity. However, whether mild depression or...