The European Investment Bank (EIB) has announced a groundbreaking initiative to provide â¬70 billion in startup funding by 2027, intending to close the financial gap between European and American tech sectors. This funding project aims to attract private investment, potentially resulting in â¬250 billion in total investment into European technology. Notably, EIB Group President Nadia Calviño stated this will be the largest program dedicated to fostering innovation in Europe, focusing on supporting companies from their inception all the way to their public offering. The initiativeâs success relies on future approval from the Bank's Board of Governors.
This initiative aims to attract private investors to projects, potentially unlocking up to â¬250B in investment for the European tech sector.
EIB Group President Nadia Calviño told Handelsblatt that this is the largest ever programme to explicitly support European innovation and technological leadership.
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