EU invests in 42 start-ups

The European Union becomes a shareholder in European start-ups. The Commission is investing a total of 178 million euros.

For the first time, the European Commission has distributed 178 million euros to start-ups via the newly established European Innovation Council. 42 "highly innovative" start-ups in the fields of health, the circular economy and advanced manufacturing will each receive between 500,000 and 15 million euros.

"There are many innovative and talented start-ups in Europe, but these companies are often unable to grow or relocate outside Europe," says Mariya Gabriel, Commissioner for Innovation and Research. "This new form of financial support - a combination of non-repayable grants and equity investments - is provided exclusively by the European Innovation Council." The European Commission acquires company shares of between ten and 25 percent.

The first company to receive an investment is the French start-up CorWave. It wants to introduce a new standard of treatment for patients with life-threatening heart failure. The EU has provided 15 million euros from the fund for this purpose. Not all companies have been announced yet. No German start-up was among the first beneficiaries to be announced.