This includes three different measures, starting with the extension of the European Tech Champions Initiative (ETCI).
Launched in 2023, the ETCI is a fund of funds that provides late-stage capital to European companies.
By February 2024, it had closed1bn of investments.
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The problem is not that Europe lacks ideas or ambition, the Italian former premier said.
But innovation is blocked at the next stage: we are failing to translate innovation into commercialisation.
According to the report, only four European companies rank among the worlds top 50 tech giants.
Furthermore, no EU-based tech company has achieved a market capitalisation exceeding 100 billion in the past half-century.
This starkly contrasts with the US, which boasts six such companies valued at over 1 trillion.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
