EU plans to use $47 billion in private investment to finance deep-tech startups

The European Commission is planning measures to attract 45 billion euros ($47 billion) in private funding for “deep-tech” start-ups, those based on significant scientific or engineering advances, an EU policy document seen by Reuters showed.
The new Listings Act planned for later this year will also cut the cost of stock market flotations for the firms, the document, A New European Innovation Agenda, added.
The proposals, which the EU executive is expected to announce at a press conference on innovation at 1330 GMT on Tuesday, aim to help the 27-country bloc catch up with the United States, Japan and South Korea in cutting-edge technology, venture capital funding and innovative patents.
The proposals, which the EU executive is expected to announce at a press conference on innovation at 1330 GMT on Tuesday, aim to help the 27-country bloc catch up with the United States, Japan and South Korea in cutting-edge technology, venture capital funding and innovative patents.