\u201cWe will identify one hundred of Europe\u2019s future tech champions, engage them, and provide them with support on their scaleup journey,\u201d said EU tech chief Margrethe Vestager, who <\/span>announced<\/span><\/a> the EIC Scale Up 100 initiative at a deep tech conference in Stockholm yesterday.\u00a0\u00a0<\/span><\/p>\n These \u201cfuture tech champions\u201d will be picked from a pool of startups already enrolled in national and EU-led innovation programmes across the Continent. Only the \u201cbest performing\u201d startups will make the cut, the EU executive said in a statement.\u00a0<\/span><\/p>\n Startups will be selected in areas that contribute to Europe\u2019s green and digital transition such as climate, energy, digital, and health. \u201cSupporting scaleups is not only our best chance to produce home-grown tech giants: it is a critical choice for digital and energy resilience,\u201d said Vestager.<\/span><\/p>\n Tickets are officially 90% sold out<\/p>\n Don’t miss your chance to be part of Europe’s leading tech event<\/p>\n<\/div>\n<\/div>\n The European Innovation Council (EIC) will oversee the process. The Council, which Vestager likened to a \u201cfactory of European unicorns,\u201d has already produced 12 startups valued at $1bn or more, such as Dutch vertifical farming startup Infarm and Swedish 3D bioprinting startup Cellink. The EIC has also produced 112 \u2018centaur\u2019 companies \u2014 firms with an annual recurring revenue exceeding $100m.\u00a0<\/span>\u00a0<\/span><\/p>\n EU member states and countries associated with the bloc\u2019s scientific research initiative, Horizon Europe, will be invited to nominate companies from their ecosystems, with their participation pending the selection process.\u00a0<\/span><\/p>\n The selected startups will receive support from a group called the EIC Scaling Club which includes 100 investors from VC, growth, and government funds, 100 companies with innovation units, and 100 independent mentors.\u00a0<\/span><\/p>\n The initiative aims to help the startups grow annually by 40% in their valuation, new investments, partnerships, and jobs and by 50% across the same parameters for the 20 top performing companies in two years.<\/span><\/p>\n \u201cEIC Scale Up 100 will prove that Europe is the most attractive location for future global unicorns and their investors,\u201d said Vestager.\u00a0<\/span><\/p>\n The programme falls under the New European Innovation Agenda, launched last year, which aims to boost scaleup funding, nurture deep tech skills, and implement improved policy tools.\u00a0<\/span><\/p>\n \u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\n <\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n
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