The European Commission supports the emergence of European game-changers in deep tech

At INPHO® Venture Summit 2018, the European Commission and private investors will strengthen their relationships

INPHO® Venture Summit will have the great honored to welcome Jean-David Malo, Director “Open Innovation & Open Science”, DG Research & Innovation – European Commission in Bordeaux on the 11th and 12th of October.
The participation of Jean-David Malo at the INPHO® Venture Summit illustrates the strong interest of the European Commission to support the emergence of European game-changers in deep tech.

Mr. Malo will introduce us to the different actions undertaken by the European Commission to foster the development of risk capital and innovation in Europe.

Last April, the European Commission and the European Investment Fund (EIF) have launched a Pan-European Venture Capital Funds-of-Funds program (VentureEU) to boost investment in innovative start-up and scale-up companies across Europe.

Mr. Malo will participate to open discussions with leading private investors to address the challenges of how turning European excellence in science & innovation into European success stories with the support of private investment.

This is indeed the challenge Brussels authorities decided to tackle. Considering that, in venture capital, size matters, it is high time that something was done to give European innovators the financial tools they need to grow their start-up into world-leading companies. Figures are indeed striking. In 2016, venture capitalists invested about €6.5 billion in the EU compared to €39.4 billion in the US. According to the association representing Europe’s private equity, venture capital and infrastructure sectors Invest Europe, in 2016 venture capital funds in Europe had an average size of around €56 million whereas in the US they were on average three times bigger. Furthermore, according to Brussels authorities, till now, 90% of the EU’s supply of VC had been concentrated in just eight Member States with too little cross-border investments, increasing the difficulty both for entrepreneurs to access to finance and for investors to create larger funds.

That’s why the European Commission and the European Investment Fund (EIF) have decided to create this pan-European venture capital funds-of-funds: VentureEU. The idea is to invest €410 million of EU funding to secure investment and make it more attractive for private investors to join and to foster European ability to provide new sources of financing to innovators and skilled entrepreneurs across the whole EU. For the moment, six funds have been selected by the EIF: Aberdeen Standard Investments, Axon Partners Group, Isomer Capital, LGT, Lombard Odier Asset Management and Schroder Adveq. Under the supervision of the Commission and the EIF, those funds will have the responsibility to raise up to €2.1 billion of public and private investment. They are expected to cover projects in at least four European Countries each in order to really fight against remaining territorial inequalities in Europe.

Launch during spring 2018, VentureEU is expected to give its first results by 2019. It is part of a bigger EU master plan to improve innovation and access to financing for small businesses whose results can already be foreseen. The global picture consists of the Investment Plan for Europe – the so-called Junker Plan – the upcoming European innovation Council and the already running programs for research H2020, for investment in small and medium-size companies COSME and for employment and social Innovation (EaSI). This ambitious European plan to improve the business environment as a whole will also be at stake during the upcoming INPHO® Venture Summit meeting in Bordeaux.

INPHO® Venture Summit, the unique event for executives active in smart technologies and deep tech innovations will hold its 6th edition on 11th & 12th October 2018, in Bordeaux. The event will be chaired by George Ugras, General Manager at AV8 Ventures.
In its five previous editions, INPHO® has attracted more than 500 European participants, 50 international keynote speakers, and over 80 VCs and corporate funds. More than 60 start-ups have been selected to pitch, raising more than 150 M€.