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EU invests in 42 start-ups

Tom Schmidtgen | 07.01.2021

EU invests in 42 start-ups — EU-Innovationskommissarin Mariya Gabriel ist für das Programm verantwortlich. (Foto: Lukasz Kobus/EU-Kommission)

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 through the newly established European Innovation Council. 42 "highly innovative" start-ups in the fields of health, circular economy and advanced manufacturing will each receive between €500,000 and €15 million.

"There are many innovative and talented start-ups in Europe, but these companies are often unable to grow or move their headquarters outside Europe," said Innovation and Research Commissioner Mariya Gabriel. "This new form of financial support - a combination of non-repayable grants and equity investments - will be provided exclusively by the European Innovation Council." Under the scheme, the European Commission acquires company shares of between ten and 25 per cent.

The first company to receive an investment is French start-up CorWave. It wants to introduce a new treatment standard for patients with life-threatening heart failure. The EU gave it 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.

EU Mariya Gabriel Start-up-Förderung

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