The European Investment Bank (EIB) has introduced a comprehensive set of initiatives aimed at enhancing financial support for fintech companies and startups across Europe.
This initiative emerges in response to a notable decrease in fintech investments throughout the region, as well as intensified competition from firms in the United States and China. EIB President Nadia Calvino emphasized that these measures are intended to ensure that “companies born in Europe remain in Europe.”
The proposed action plan was shared with EU finance ministers during a meeting in Luxembourg, aligning with the broader EU strategy to bolster its capital markets, making them a prime location for innovative startups.
Key elements of the proposal include the expansion of the European Tech Champions initiative, which is a fund of funds that was launched last year, specifically aimed at supporting European unicorn companies.
Calvino articulated, “The Action Plan, as discussed with ministers, will empower European innovators to scale their businesses, direct savings into productive investments, foster innovation, generate employment, and guide Europe towards a more resilient growth model, ensuring that European enterprises continue to thrive within Europe.”