The European Investment Bank (EIB) is set to invest €70bn ($78.15bn) in startup funding for technology companies and innovators by 2027.
The announcement was made by EIB Group president Nadia Calviño during an interview with the German daily Handelsblatt.
This initiative, dubbed TechEU, aims to close the investment gap between Europe and the US, supporting private investors to participate in projects and potentially unlocking €250bn in investment for the European tech sector.
This funding will also support the exit of company founders and venture capital investors who often sell their stakes to US investors.
The EIB will assist EU companies in acquiring startups to retain technologies within Europe.
The TechEU platform, launching later this year, will offer a comprehensive solution for researchers and companies seeking financing.
The EIB will collaborate closely with the European Commission, and national promotional banks such as Germany's KfW may also participate in the initiative.
This plan requires approval from the Bank’s board of governors, comprising finance ministers from the 27 EU Member States.
Calviño said there exists an opportunity in the uncertainty caused by US President Donald Trump's economic policies.
“The current situation in the US creates an opportunity for Europe to attract talent, to attract investment, to attract capital. We see strong interest in Europe from international investors.”
In 2024, the EIB lent €89bn in private investment and plans to provide €95bn this year.
The TechEU platform will streamline EU funding programmes for researchers and startups, requiring only a single project appraisal.
Calviño added that the initiative “aims to nurture private venture capital ecosystem in Europe” to reduce the need for European startups to seek growth capital in the US.
"EIB to offer $78bn for tech companies and innovators" was originally created and published by Verdict, a GlobalData owned brand.
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