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June 8, 2023

Europe's Bold Initiative Fuels Deep Tech Scale-up Success

EIC Scale Up 100' Fuels Growth of 100 Deep Tech Scale-ups

The European Commission is spearheading an ambitious endeavor to empower 100 promising European deep tech scale-ups, propelling them towards becoming the continent's future unicorns. This strategic move aligns with the EU's digital and green ambitions, reflecting a steadfast commitment to fostering innovation and sustainability.

During a momentous address delivered in Stockholm, EVP Margrethe Vestager emphasized the significant strides made with 'The New European Innovation Agenda'. This comprehensive strategy, initiated by former Commissioner Mariya Gabriel, aimed to invigorate innovation across all sectors of the economy.

Building upon this foundation, Vestager unveiled two groundbreaking initiatives: 'Regional Innovation Valleys' and the game-changing 'EIC Scale Up 100' program. The latter endeavors to identify and nurture 100 exceptional deep tech scale-ups, offering them unparalleled support on their path to unicorn status.

These selected startups will be embraced by the esteemed EIC Scaling Club, a diverse consortium consisting of 100 investors, 100 innovative companies, 100 influential agencies, clusters, and media entities, and 100 independent mentors. Notably, Tech.eu and our parent company Webrazzi proudly contribute to the EIC Scaling Club, a project backed by the EU through the European Innovation Council, in collaboration with TechTour, Bpifrance (EuroQuity), Hello Tomorrow, EurA, and IESE Business School. Stay tuned for further details about our involvement!

Furthermore, CESAER, an influential university lobby group, seized the occasion to advocate for increased support in nurturing deep tech entrepreneurship within the wider innovation ecosystem. Recognizing the pivotal role played by science and technology universities in driving deep tech innovation, CESAER urges the EU and its institutions to duly acknowledge and bolster their contribution.

With Europe firmly committed to fostering deep tech innovation and nurturing the next generation of unicorns, the stage is set for a thriving and transformative tech landscape. By championing groundbreaking initiatives and leveraging its resources, the European Commission continues to drive progress, propelling Europe to the forefront of global technological advancement.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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