On 1 June 2023, the EU Innovation Council (EIC) announced its Scale Up 100 Initiative. It aims to determine, encourage 100 promising deep tech companies throughout Europe. They have the potential to be the exceeding Euro 1 billion valuation global tech champions which the EIC called as ‘unicorns’. It will accompany them to develop their corporate and leadership strategies, reach strategic investors, partners, expand internationally, access to networking and peer exchange.
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EIC Scaling Club
The EIC will select to establish a network of at least 400 actors, called the EIC Scaling Club. They will include:
- 100 most active investors which are venture capital, growth and government funds;
- 100 most relevant corporations with their innovation, venturing or development units;
- 100 agencies, clusters and media promoting scale-ups in Member States, regions or sectors;
- 100 independent mentors with experience and relationships at scale-up board level.
https://www.eicscalingclub.eu/
EIC action
In detail, the EIC will help the companies to establish their relations with strategic partners, key EU institutions, for example, European Innovation Council, European Investment Bank and European Institute for Innovation and Technology, and policy makers. It envisaged some illustrative examples of actions, like:
- accelerate investments and business development among the most mature EIC beneficiaries and other selected companies;
- support Internationalisation, soft landing, expansion to foreign markets are another set of measures in support of growing and scaling up companies;
- support operational excellence of the supported companies;
- foster inclusion and growth of women talent at selected companies;
- provide access and organise bespoke peer learning, networking and mentoring sessions;
- support networking and development of best practice between Member States on providing support for scaling up;
- generate awareness of the EIC Scale Up 100 companies
https://eic.ec.europa.eu/eic-funding-opportunities/business-acceleration-services/eic-scale-100_en
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