EU's €70B Tech Investment Push to Bridge US Innovation Gap
2025-05-19
The European Investment Bank (EIB) plans to invest €70 billion in Europe's tech sector by 2027, aiming to close the innovation gap with the US. This initiative, dubbed TechEU, will focus on strengthening Europe's position in AI and military drones, attracting private investment (potentially unlocking €250 billion), and streamlining funding processes. EIB President Nadia Calviño highlights a willingness to take more risks, speeding up venture capital financing from 18 months to a targeted 6 months – a 'gamechanger' for startups. The initiative includes a centralized hub for funding requests and prioritizes defense and security investments, fostering a comprehensive tech ecosystem.