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In its annual report, the European Investment Bank (EIB) launched a new programme aimed at “actively engaging with the European Commission’s industrial alliances and initiatives in the areas of net zero and strategic technologies”. 2024-2027 Strategic Roadmapreleased on Friday (June 21).
Innovation in artificial BroadCast Unitedligence (AI), chips, cleantech and biotech is a top priority for EU leaders as the bloc strives to remain competitive and resilient on the global stage.
Investment in key raw materials such as lithium and copper, which are necessary to achieve the green and digital transformation, will also be a focus of the EU Strategic Technology Plan.
Support for start-ups and SMEs should be maintained at €20 billion per year and take into account a variety of risk profiles.
“More than 50% of investments will go to the green transition and more than 45% to cohesion policies,” the agenda states.
The European Investment Bank will also expand its European Tech Champions Programme (ETCI) “Attracting private capital to finance the scale-up of innovative start-ups”, previously Authorization The bank said in a statement: statement.
Coming in 2023 The project, managed by the European Investment Fund, aims to address a key problem in the EU tech sector: scaling up startups to compete with rivals in the U.S. and China. European startups have fairly ample access to funding in their early stages, but struggle to find the money they need to really scale up.
ETCI allocates funds to large venture capital funds, which then allocate it as growth financing to startups seeking to scale up.
The amount initially allocated to ETCI was €3.75 billion.
(Editing by Rajnish Singh)
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