{"id":552248,"date":"2023-02-15T18:47:15","date_gmt":"2023-02-15T15:47:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/"},"modified":"2023-02-15T18:47:15","modified_gmt":"2023-02-15T15:47:15","slug":"eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/","title":{"rendered":"#EU launches \u20ac3.75 billion fund of funds to help tech startups scale up"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b39be15205\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b39be15205\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/#%E2%80%9CEU_launches_E375_billion_fund_of_funds_to_help_tech_startups_scale_up%E2%80%9D\" >&#8220;EU launches \u20ac3.75 billion fund of funds to help tech startups scale up&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/#Boosting_European_investment\" >Boosting European investment<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/#Get_your_tickets_for_TNW_Valencia_in_March\" >Get your tickets for TNW Val\u00e8ncia in March!<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/eu-launches-e3-75-billion-fund-of-funds-to-help-tech-startups-scale-up\/#The_way_forward\" >The way forward<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CEU_launches_E375_billion_fund_of_funds_to_help_tech_startups_scale_up%E2%80%9D\"><\/span>&#8220;EU launches \u20ac3.75 billion fund of funds to help tech startups scale up&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image?fit=796%2C417&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2023%2F02%2FUntitled-design-2023-02-15T155618.522.jpg&amp;signature=1010bfe3c4649a96ba5f79b71488a5aa\" \/><\/p>\n<div id=\"article-main-content\">\n                            Five EU member states and the European Investment Bank (EIB) Group have launched a new fund to support the late-stage growth of promising European tech startups and increase the continent\u2019s competitiveness in innovation.<\/p>\n<p>The so-called <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.eif.org\/what_we_do\/news\/2023\/launch-of-new-fund-of-funds-to-support-european-tech-champions.htm\">European Tech Champions Initiative<\/a> (ETCI) aims to address the issue with inadequate late-stage funding, especially for companies seeking more than \u20ac50 million in capital.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Boosting_European_investment\"><\/span>Boosting European investment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u201cEurope\u2019s tech startups often do not have sufficient capital to compete on a global scale and are pushed to relocate overseas. Closing this scale-up gap could create a large number of highly skilled jobs and boost growth,\u201d the ECTI\u2019s founders said in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.eif.org\/what_we_do\/news\/2023\/launch-of-new-fund-of-funds-to-support-european-tech-champions.htm\">statement<\/a>.<\/p>\n<div class=\"inarticle-wrapper channel-cta\">\n<div class=\"ica-text\">\n<h4><span class=\"ez-toc-section\" id=\"Get_your_tickets_for_TNW_Valencia_in_March\"><\/span>Get your tickets for TNW Val\u00e8ncia in March!<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The heart of tech is coming to the heart of the Mediterranean<\/p>\n<\/div>\n<\/div>\n<p>\u201cThe European Investment Bank estimates that <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 75% of European high-tech companies are acquired by non-European investors \u2014 predominantly American and Chinese \u2014 in late-stage development,\u201d Nick Swan, serial entrepreneur and founder of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/seotesting.com\/\">SEOTesting<\/a>, told TNW. \u201cFor the fund to be successful long-term, it will need to curb the trend of EU tech startups pushing to relocate overseas. It will also be telling if UK businesses begin to consider relocating to the EU to be able to get access to this big pot of funding.\u201d<\/p>\n<p>The ETCI has secured so far a total budget of \u20ac3.75 billion. Spain, Germany, and France have committed \u20ac1 billion each, Italy \u20ac150 million, and Belgium \u20ac100 million. The EIB Group has provided an additional \u20ac500 million. The funding capacity is expected to increase further in the future.<\/p>\n<p>\u201cThis initiative is a striking example of what we can achieve collectively to strengthen the EU\u2019s economic and industrial sovereignty,\u201d Bruno Le Maire, French Minister of the Economy, Finance, and Industrial and Digital Sovereignty, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.eif.org\/what_we_do\/news\/2023\/launch-of-new-fund-of-funds-to-support-european-tech-champions.htm\">noted<\/a>.<\/p>\n<p>The ETCI won\u2019t subsidise startups directly, but will instead work as a fund of funds. In other words, it will deepen Europe\u2019s scaleup venture capital (VC) funds \u201cby bridging gaps in financing availability.\u201d This way, it will help European institutional investors diversify their portfolio, while ensuring a continuous flow of capital to the continent-based scaleups.<\/p>\n<p>\u201cMuch of this has to do with European strategic autonomy, which is something that leaders on the continent have to think about. By boosting the financial capacity of existing venture capital funds (and therefore financing scale-ups indirectly), they can make sure that European companies don\u2019t get acquired by non-European investors, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly from the US and China,\u201d Michaela Jeffery-Morisson, CEO and founder of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ascendglobalmedia.com\/\">Ascend Global Media<\/a> (the company behind <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/showcase\/women-in-technology-world-series\/\">Women in Tech World Series<\/a>), told TNW.<\/p>\n<p>\u201cThere\u2019s real value in supporting home-grown talent,\u201d Jeffery-Morisson added. \u201cDoing so will give European tech companies the freedom to concentrate on what they do and not get distracted wondering where money will come from. And this will also allow a distinctly European tech ecosystem with its own unique culture to develop.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_way_forward\"><\/span>The way forward<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While the ETCI is an exciting and promising opportunity for innovative entrepreneurs across the continent, financial support alone might not be enough.<\/p>\n<p>Reduced bureaucracy and easier access to funds are critical, Oana Jinga, co-founder and CMO at previously EIC-funded <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dexory.com\/\">Dexory<\/a>, told TNW. \u201cStartups need to operate at speed \u2014 the main advantage of being in innovation is to be first! So lengthy and time-consuming processes will quickly be dismissed for other options as they hold these high-growth companies back,\u201d she explained.<\/p>\n<p>Speaking to TNW, Lena Hackel\u00f6er, CEO of Swedish-based <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/britepayments.com\/\">Brite Payments<\/a>, identified two more requirements for home-grown innovation: cultivating a \u201cstartup-friendly environment\u201d and implementing regulation that \u201csupports\u201d and \u201csets clear boundaries\u201d for tech companies.<\/p>\n<p>With the approval of the first investment applications under the ETCI potentially starting as early as next week, it will become clearer how the process will work out in action.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/eu-launches-fund-of-funds-help-tech-startups-scale-up\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;EU launches \u20ac3.75 billion fund of funds to help tech startups scale up&#8221; Five EU member states and the European Investment Bank (EIB) Group have launched a new fund to support the late-stage growth of promising European tech startups and increase the continent\u2019s competitiveness in innovation. The so-called European Tech Champions Initiative (ETCI) aims to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":552249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2023\/02\/Untitled-design-2023-02-15T155618.522.jpg&signature=5ce8052f7f36e411337d2ccb51d1cda7","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-552248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=552248"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/552248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/552249"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=552248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=552248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=552248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}