EU looks to 100 unicorns to boost green, digital goals

The European Commission kicked off an initiative on Thursday to help 100 unicorns scale up to become Europe’s deep tech champions and help drive the bloc’s green and digital objectives.

Unicorns are startups valued at $1 billion or more while deep tech startups focus on significant scientific or engineering developments.

The EIC Scale Up 100 initiative will identify and support the growth of 100 promising European deep tech companies with the potential to become unicorns, the EU executive said in a statement.