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Billions to innovative start-ups in Europe

eLearningworld News

As SME’s are the today’s and the future main engines of economic growth, where promoting entrepreneurship and startup are a key to success. The EU Commission and European Investment Fund (EIF) is now launching a Pan-European Venture Capital Funds-of-Funds programme called VentureEU. The purpose for VentureEU is to boost investment in innovative start-up and scale-up companies across Europe to improve the prerequisites of commercial success. EU will finance the programme with €410 million, the six participating funds are aiming to raise up to €2.1 billion of public and private investment. Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, commented: “In venture capital, size matters! With VentureEU, Europe’s many innovative entrepreneurs will soon get the investment they need to innovate and grow into global success stories. This means more jobs and growth in Europe.” This should be seen in the light of that VC funds in Europe are too small – €56 million on average compared to €156 million in the US. Source: European Commission

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