EIC: creation of a network of European investors ready to support deeptech companies

The European Commission is taking "the first concrete steps to establish a new network of European venture capitalists ready to co-invest in Europe's most innovative deep tech companies as part of the European Innovation Council", the institution says on 13/06/2024.

The European Innovation Council (EIC), part of the Horizon Europe programme, supports groundbreaking innovations and the growth of start-ups and SMEs. Its venture arm, the EIC Fund, provides €10 Bn in patient capital to minimize private investor risk and promote innovation.

In collaboration with the EIC Fund, "the proposed network of investors would have the power to stimulate the European deeptech innovation landscape by strengthening the investor base and encouraging cooperation between them", according to the Commission.

Iliana Ivanova, European Commissioner for Innovation, Research, Culture, Education and Youth, who is behind this initiative, brought together a group of investors on 12/06 to:

• strengthen cooperation between investors in the deeptech sector;
• promote syndication opportunities;
• present the EIC's…