Five EU member states and the European Investment Bank (EIB) Group have launched a new fund to support the late-stage growth of promising European tech startups and increase the continent’s competitiveness in innovation. The so-called European Tech Champions Initiative (ETCI) aims to address the issue with inadequate late-stage funding, especially for companies seeking more than €50 million in capital. Boosting European investment “Europe’s tech startups often do not have sufficient capital to compete on a global scale and are pushed to relocate overseas. Closing this scale-up gap could create a large number of highly skilled jobs and boost growth,” the…

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