According to Odaily, the European Investment Bank (EIB) has issued a report urging the European Union to enhance its innovation financing to strengthen the region's technological leadership. The report highlights the 'urgent need' to eliminate investment barriers to channel funds into critical areas of the EU market. It underscores the importance of increasing investments in scale-up companies to maintain the EU's technological edge and global competitiveness. Addressing the funding gap for these companies is seen as crucial for advancing green technology, artificial intelligence (AI), and quantum computing technologies.
The EIB had previously emphasized this theme in June 2021, when it released a similar report titled 'Artificial Intelligence, Blockchain, and the Future of Europe.' The bank noted that the limited size and depth of EU capital markets pose significant challenges for innovative companies, particularly during the expansion phase when financing is scarce.