European Investment Bank to inject €70B in European tech

The European Investment Bank (EIB) will invest €70 billion into Europe's technology sector by 2027, aiming to close the innovation gap with the United States. This initiative seeks to strengthen Europe's position in emerging technologies like artificial intelligence and military drones and to draw increased private investment, potentially unlocking €250 billion for the sector. EIB President Nadia Calviño emphasizes the bank's willingness to take more risks, notably speeding up the venture capital financing process, which could be pivotal for startups in a fast-moving market The EIB plans to launch this initiative, dubbed TechEU, later this year, creating a centralized hub for financing requests from researchers and companies. This initiative aims to streamline the process, making EU funding processes faster and simpler. A quicker decision-making process can differentiate between the survival and failure of startups navigating tight cash flows and competitive markets. In an interview ... Read full article.