EU Commission announces the EIC Scale Up 100 initiative to support European deep tech startups

The European Commission has announced the EIC Scale Up 100 initiative, aims to support 100 European companies. It will help them to develop corporate and leadership strategies, reach strategic investors, and expand internationally.

• EIC Scale Up 100 initiative aims to identify, promote, and support the growth of 100 promising Europe’s deep tech companies with the potential to become unicorns. The selected companies will be engaged in the EIC Scaling Club, a network of minimum 400 quality ecosystem players.
• Companies will be selected from different areas enhancing Europe’s green and digital transition, such as sustainability (climate and energy), digital, health, and more. The call for implementing entities to propose a program closed on 5 October. 
• The initiative will help companies in developing their corporate strategies, reaching strategic investors and partners, and scaling their businesses internationally. It will also aim to support strategic partnership with key institutions at EU level (European Innovation Council, European Investment Bank and European Institute for Innovation and Technology).
• During two years of the program, companies are expected to grow annually by 40% in their valuation, new investments, partnerships and jobs and by 50% across the same parameters for the 20 top performing companies and retention of deep tech talents and improved policy tools.