EU Becomes Direct Shareholder of Startups
The EU is creating the largest investment fund in Europe and is becoming a direct shareholder of startups. The European Innovation Council Fund, with a budget of € 3 billion, will fund innovative science technologies.
Small tech companies working in the field of health, sustainable development and progressive production will be funded. In addition to grants, the fund also becomes a direct shareholder in 10-25% of startups. Officials explain that in this way the EU makes new projects much more credible and attractive to investors.
The European Union has invested 15 million euros in the first phase in the French company CorWave. The startup is creating a technological device that will help people with acute heart failure.
Author of the original Bloomberg article: Natalia Drozdiak