Scale-ups: the EIB sets out how it intends to achieve its ambition
Meanwhile, institutional investors and the French Tibi initiative have declared their intention to channel more than 8 billion into the European ecosystem. Hence the ‘ more than 10… billion’ figure announced today. However, these intentions do not constitute firm commitments to ETCI. The press release specifies neither a timetable nor the proportion that will be added to the allocations already planned. An urgent and well-documented need The need for funding for growth companies, and the urgency of this need, are well documented. In the OECD sample covering start-ups founded between 2000 and 2025, the EU has 358 companies that have reached a valuation of one billion dollars, compared with 1,586 in the United States. Around 3 per cent of European start-ups have raised at least $50 million whilst remaining below…