The European Investment Bank (EIB) is planning a new financial platform for the tech industry. By the end of 2027, the EU development bank aims to provide 70 billion euros in funding for startups. With private co-investors, up to 250 billion euros could flow into the European tech industry over the next three years. “We are talking about the largest financing program for European innovation and technological leadership” said EIB President Nadia Calviño in an interview with the “Handelsblatt” (Thursday edition). The goal is to finance projects and companies at all stages of development “from idea to IPO.”
Named TechEU, the platform is expected to launch this year, bundling existing EU funding instruments and offering a central point of contact for companies to submit all their financing requests. The EU funding will be “larger, faster and easier” Calviño promised. The EIB will work closely with the EU Commission and national development banks such as Germany’s KfW could also participate.
The plan still needs approval from the 27 EU finance ministers, who make up the bank’s governing board. Calviño presented her proposals at the finance ministers’ meeting in Brussels on Tuesday and hopes for a positive decision in June.