Brussels – Innovation “can become the competitive advantage” of European businesses, but to achieve this, adequate funding for growth and support is needed. For this reason, the European Commission announced today (4 August) the completion of the final legislative stages of the ScaleUp Europe Fund, the investment vehicle that aims to mobilise up to 5 billion euros to support innovative EU businesses and help them grow more rapidly in global markets. The President of the European Commission, Ursula von der Leyen, emphasised that strengthening the innovation ecosystem will enable European companies to “find here in Europe what they need to grow and become world-leading companies.”
The Fund’s objective is to address one of the main weaknesses of the European innovation ecosystem: the scale-up phase, when a start-up has already validated its business model but requires substantial capital to expand, industrialise its technologies and compete internationally. The initiative thus aims to retain high-potential companies in Europe, reducing dependence on non-European investors.
Following the adoption of the legal documentation, ScaleUp Europe has officially become part of the European Innovation Council Fund (EIC Fund). Private equity firm EQT, selected through an open and competitive process, will manage the investments and operate with full autonomy, in accordance with market criteria.
The first investments are expected as early as the coming weeks. They will target companies operating in technology sectors that are strategic for European competitiveness, ranging from artificial intelligence to quantum technologies, and from biotechnology to clean technologies. The Fund has been established thanks to a coalition of public and private investors, including the European Commission, to reach a total budget of 5 billion euros through a capital-raising exercise that will continue over the coming months.
English version by the Translation Service of Withub
