The European Commission has taken the first concrete steps towards establishing a new network of European venture capital investors ready to co-invest in Europe’s most innovative deep-tech companies, together with the European Innovation Council Fund. On 12 June, Commissioner for Innovation, Research, Culture, Education and Youth Iliana Ivanova brought together a group of forward-thinking investors to discuss this new form of collaboration.
The proposed investor network would have the power to boost the European deep-tech innovation landscape by strengthening the investor base and fostering cooperation between investors.
Commissioner Ivanova said:
“By joining forces towards a shared vision for Europe’s competitiveness, we can unlock the full potential of venture capital investments in disruptive deep-tech European technologies. I look forward to continuing this journey of open communication and collaboration with like-minded partners to facilitate investment in disruptive research and breakthrough EIC innovations, providing a fertile ground for our innovative companies to grow in Europe“.
This strategic initiative is set to strengthen the capital structures of European deep-tech companies within the EIC Fund portfolio, which will accelerate their growth and scaling across all Europe.
The meeting aimed to bolster cooperation among deep-tech investors, foster syndication opportunities, showcase EIC funding opportunities for portfolio companies and facilitate co-investments with the EIC Fund at European level.
While venture capital investments in Europe have shown promising trends, they still lag significantly behind the US, with European investment levels at just a quarter of their American counterparts. Bridging this gap is vital, particularly in securing scale-up finance for high-risk deep-tech ventures. Addressing this challenge, the EIC is taking decisive steps to create a fertile ground for Europe’s deep tech “seeds” to scale-up.
Over the past three years, the EIC has received applications from over ten thousand startups and SMEs, highlighting the immense potential within Europe’s innovation landscape. In 2023, the EIC Fund proudly became Europe’s most active deep-tech investor, approving over 200 investments under Horizon Europe and participating in more than 100 funding rounds.
Remarkably, every euro invested by the EIC Fund attracted an additional €3.8 from venture capital funds, corporates and other investors, underscoring the Fund’s catalytic role in driving investment despite the challenging market conditions of 2023.
A recent report by Jolt Capital highlights the success of EIC-backed companies, which have raised more funds and generated more jobs compared to their peers. This success story reinforces the potential of EIC-supported innovations to drive Europe’s competitiveness on the global stage.
More information
EIC Fund
Jolt report
Press contact:
EC Spokesperson for Research, Science and Innovation
