The European Commission unveiled its first investment programme in collaboration with investors from the private sector, in a bid to push the lagging deep tech sector around Europe.
The initiative is called Trusted Investors Network and in its first part will include 71 private investors, ranging from venture capital funds to public investments banks and foundations. The Commission estimated that those first investors have collectively over €90 billion in assets. They committed to a charter that sets the common values upon which they will invest in new companies in Europe.
“With the launch of the Trusted Investors Network, we are making an important step forward in strengthening Europe’s innovation ecosystem,” said Commissioner for Innovation, Research, Culture, Education and Youth Iliana Ivanova during the presentation event for the programme in Athens.
Ivanova also mentioned that the programme and the collaboration with venture capital is an answer to Mario Draghi’s recent plea for more competitiveness within the bloc to ensure its future growth. The commissioner discussed about a new form of collaboration with private investors in a series of meetings in February and June before finalising the Trusted Investors Network.
The network will receive investment from the European Innovation Council (EIC) Fund, part of EU programme Horizon Europe. The EIC Fund is one of the new tools that the Commission wants to use in order to help scale up investments in European start-ups. It provides tailored support to companies that are part of the EIC Scaling Club.
