EU boosts EIC budget for supporting deeptech R&D and strategic scale-ups

Quick Summary:

The European Union will spend €1.4 billion (about $1.5 billion) next year to bolster deeptech research and support scale-ups in strategic areas like AI, low-carbon technologies, agritech and biotech, the European Commission said on Tuesday.

The new EIC STEP Scale-Up scheme will have a budget of €300 million in 2025 (the Commission expects it to grow to €900 million by 2027).

The revisions to the EIC work program for 2025 follow the bloc adopting the STEP regulation in February with the aim of strengthening investment in technologies critical to driving digitalization, boosting regional autonomy and supporting the bloc’s Net Zero transition.

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Article Details

Author / Journalist: Natasha Lomas

Category: Technology

Markets: United States

Topics: Startup grants Startups Deep tech European union

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 14:33:16 (2 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 708 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © TechCrunch

News ID: 23328267

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