The European Commission (EC) is intensifying efforts to foster innovation among deep-tech startups with the launch of a EUR 1.4 billion funding initiative, which will also engage external investors and ecosystem participants.
This funding announcement follows the introduction of a new agenda, which aims to connect European startups with technology investors.
In its statement, the EC outlined plans to allocate this funding in 2025 via the European Innovation Council (EIC), a division focused on maximizing the economic potential of startups.
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EIC 2025 Work Program
The new funding initiatives form part of the EIC 2025 work program, which the European Commission (EC) adopted on the 29th of October, 2024. The EUR 1.4 billion in funding will be divided into four main schemes, each offering access to extensive business acceleration services, connecting startups with top experts, corporate partners, investors, and ecosystem participants.
The EC noted that the 2025 work program signifies an investment increase of nearly EUR 200 million compared to this year’s budget.
Iliana Ivanova, the European Commissioner for Innovation, Research, Culture, Education, and Youth, remarked that the European Innovation Council has become a significant force in the EU’s support for breakthrough innovation.
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Ivanova also mentioned that, in 2025, the initiative would enhance EU deep tech with additional resources totaling EUR 1.4 billion from Horizon Europe, the EU’s research and innovation program.
The European Commission has allocated EUR 120 million specifically for startups developing emerging technologies, such as autonomous robots, climate tech, and medical diagnostics.
Furthermore, EUR 250 million is designated for earlier-stage companies specializing in the fields of AI, new space technologies, agritech, and future mobility solutions.