€70 Billion Innovation Push: EIB Group Backs European Tech Firms

The European Investment Bank (EIB) Group has unveiled an ambitious plan to provide €70 billion in funding to technology firms and innovators across Europe by 2027. This initiative aims to bridge the investment gap between Europe and the United States, fostering the growth of European tech companies and enhancing the EU's strategic autonomy in key technological sectors.

“This is the largest ever programme to exclusively support European innovation and technological leadership,” EIB Group President Nadia Calviño told Handelsblatt. The goal, she explained, is to finance research projects and companies “from idea to IPO.”

This also involves facilitating the exit process for company founders and venture capital investors, who frequently sell their shares to US buyers due to their stronger purchasing power. Looking ahead, the EIB could play a more active role by supporting EU firms in acquiring promising startups, helping to retain strategic technologies within Europe.

The EIB's TechEU platform, set to launch later this year, aims to serve as a one-stop shop for researchers and companies seeking financing. According to Calviño, EU support will be 'larger, faster and simpler'. The platform is being developed in close cooperation with the European Commission, and national promotional banks such as Germany’s KfW may also be involved.