Earlier in January, the European Commission announced in a press release the first round of direct equity investment through the new European Innovation Council (EIC) Fund. EIC acquires a financing of around €178 million to invest in 42 start-ups and SMEs.
The EIC Fund was established in June 2020, and it aims to make direct equity investments (between €500.000 and €15 million each) in the capital of start-ups and SMEs in Europe. This Fund will help start-up companies to scale-up and translate their innovative scientific projects into commercial success.
New instruments for a new generation of #innovators!🇪🇺
— Mariya Gabriel (@GabrielMariya) January 6, 2021
Read the press release here.