Portugal news – The European Tech Champions Initiative by the European Investment Bank will fund tech scaleups to remain in Europe.
In a move to prevent tech companies from relocating to the US, the EIB intends to make sure European unicorns remain European.
European tech scaleups will be able to obtain funding through the European Tech Champions Initiative (ETCI) that will provide capital to fund Europe’s future Unicorns.
The EIB will also increase investment in venture capital (VCs) and debt and will create a new fund to financing acquisitions and for the listing of tech startups by European companies to strengthen Europe’s capital markets.
The EU funding strategy is to focus on new, climate-friendly technologies, to help Europe stay competitive against China and the US and to help the EU meet its ambitious climate goals of zero net CO2 emissions by 2050.
Tech scaleups that have a target fund size of at least EUR 1 billion may be eligible for funding under the European Tech Champions Initiative. Applications for the European Tech Champions Initiative (ETCI) fund may be sent through this link.