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European tech getting a boost with EU/Venture capital team up

European venture capitalists are preparing to hit the boost button as they partner with the European Union to support technology investment. Far from being ‘tin eared’ the EU is all too aware of the need to accelerate tech innovation in order to avoid lagging too far behind the US and China. The new initiative, dubbed the Trusted Investors Network (TIN) could be just the right element to catalyze growth in deep tech companies. In total, some 71 investors with combined assets of €90 billion have signed up to the new initiative; could this be the new Adventures of Tintin? It is a sign of intent, that’s for sure, coming hot on the heels of a recent report published last month by former ECB chief Mario Draghi that suggested bold action was needed to ensure Europe’s competitiveness in critical technologies.

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