News

New EU financing instrument of up to €150 million to support European artificial intelligence companies

New EU financing instrument of up to €150 million to support European artificial intelligence companies
European Commission, Funding
Member News, Funding news

Yesterday at the Web Summit in Lisbon, the European Investment Bank (EIB) together with the European Investment Fund (EIF) launched a new financing instrument, in the form of a co-investment facility of up to €150 million, to support artificial intelligence companies across Europe.

graphic showing a hand and a digitised version of a brain

The initiative, which is part of the EU’s overall support to the European ecosystem of excellence and trust in AI and the Commission’s European Digital Strategy, will mainly target companies in their early or growth-stage, investing in the development of breakthrough AI applications and technologies that directly complement AI, such as Blockchain, the Internet of Things and robotics. It complements and builds on EIB and EIF expertise in the sector, developed through the existing €100 million Artificial Intelligence/Blockchain pilot under InnovFin Equity and direct EIB financing for AI companies through its venture debt instrument

Thierry Breton, Commissioner for Internal Market, said: 

Europe has all it takes to become a hub for cutting-edge developments in Artificial Intelligence. We have the talent and a wealth of industrial data – both of which will give us an important comparative advantage in AI if we use them wisely. We are putting a framework in place to leverage our strengths and build trust – including through clear and predictable rules. The co-investment facility announced today will further support companies so that they can grow in the EU thanks to the design and the deployment of trustworthy AI. 

By collaborating with private investors, the European Investment Bank expects to support approximately 20-30 small and medium-sized companies. The new funds will be available in the EU and in Horizon 2020 associated countries and are expected to be deployed during the next four years.

NEWS​

Related News

Singapore – Singapore Health Technologies Ecosystem is ECHAlliance Ecosystem of the Month – June

12 Jun 2024
This month we are featuring our Singapore - Singapore Health Technologies Ecosystem as our Ecosystem of the Month.

Continence Thematic Innovation Ecosystem

11 Jun 2024
In celebration of Continence Week, we are excited to announce a collaborative webinar with the WFIPP focusing on our Continence Thematic Innovation Ec...

Presenting Kuopio Health members: ThingLink Oy

10 Jun 2024
ThingLink Oy is a Finnish learning technology company with global operations that develops user-friendly, scalable tools for creating interactive and ...

Presenting Kuopio Health members: Smart Visionary Solutions Oy

10 Jun 2024
Smart Visionary Solutions brings digital solutions to learning.

Presenting Kuopio Health members: Novo Granules Oy

10 Jun 2024
Novo Granules provides new pharmaceutical manufacturing solutions. Novo Granules is a company focused on dry granulation. The company is registered in...

Kuopio Health ecosystem R&D actors in spotlight – UEF SIB Labs

10 Jun 2024
UEF SIB Labs Science – Innovation – Business operates as a part of the Department of Technical Physics at the Faculty of Science, Forestry and Technol...

Become a member

Join ECHAlliance to amplify your organisation’s message, grow your networks, connect with innovators and collaborate globally.
 
First name *
Last Name *
Email Address *
Country *
Position *
First name *
Last Name *
Email Address *
Country *
Position *