The European Commission has launched a comprehensive EU Startup and Scaleup Strategy, aiming to make the EU the world's top destination for technology-driven innovative companies. One of the key components of this strategy is the expansion of the European Innovation Council (EIC), which plays a vital role in fostering innovation and entrepreneurship across Europe.

The EIC will be simplified and expanded to provide better funding opportunities for startups and scaleups, bridging the financing gap for deep tech companies and including more ARPA-like processes. This move is expected to unlock new investment opportunities, stimulate innovation, and drive economic growth.

Other key initiatives announced include:

The European Commission will monitor the strategy's progress through key performance indicators, measuring the increase in the number of startups, scaleups, centaurs (valuation over €100 million) and unicorns (valuation over €1 billion) in the EU, and how these compare with the EU’s global competitors. Reporting on its implementation will be done by the end of 2027.

Read more: Official press release on the EU Startup and Scaleup Strategy.