European Innovation Council Fund: equity investments surpass €500 million in breakthrough innovations

The European Commission has announced the second round of direct equity investment through the European Innovation Council (EIC) Fund.

Since its launch in 2020, the EIC Fund has now approved 111 investments in highly innovative start-ups and small and medium-sized businesses (SMEs) totalling more than €500 million to scale up breakthrough innovations in areas such as health, circular economy, and Internet of Things (IoT).

The announcement represents 69 new investments compared to the first announcement in January

This provides a strong foundation for the EIC fund under Horizon Europe, which is expected to invest more than €3.5 billion over the next 7 years.

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