EU Artificial Intelligence and Blockchain Investment Fund to Invest 100 million euros in startups in 2020 Crypto World Greece

Developers and entrepreneurs wanting to grow their businesses ultimately end up recipients of US financing, working for US companies, and the job opportunities and economic growth these technologies bring head elsewhere. An investment support programme will also be set up to complement the 100m fund, leveraging further financial support from EU Member States. The aim is to multiply investments at the national level by involving national promotional banks, incentivising private sector investments, and making Europe more attractive for start-ups to stay and grow in Europe. This is a particular issue for companies based in central, eastern and south-eastern Europe. Recent research shows that due to difficulties with access to finance, nearly half of start-ups in this region choose to leave, and the European Commission, together with the European Investment Fund, has launched a pilot investment programme which leverages EU resources under the InnovFin Equity programme.