The European Commission intends to take steps to attract $47 billion in private finance for “deep-tech” firms. The measures seek to assist the EU27 catch up with the US, Japan, and South Korea in terms of cutting-edge technology, venture capital financing, and unique patents.
According to a European Union strategy document, the European Commission is proposing measures to attract 45 billion euros ($47 billion) in private capital for “deep-tech” firms based on major scientific or engineering discoveries. A new Listings Act scheduled for later this year will also reduce the cost of stock market flotations for enterprises, according to the paper, A New European Innovation Agenda.
The measures seek to assist the EU27 catch up to the US, Korea, and Japan, in cutting-edge technology, venture capital financing, and inventive patents.
According to the study, “by 2025, around 45 billion euros of investment for scale-ups might be generated from previously untapped sources of private capital. The cost of listing on public exchanges should be reduced as well.”
IBM, TCS, Accenture, and others are dealing with personnel issues through city moves, curriculum changes, and gig employment. It stated that under a Listings Act to be adopted in the second half of the year as part of the Commission’s Capital Markets Union (CMU) Action Plan launched in 2020, enterprises will find it simpler and less expensive to list on the market.
The act may also propose a harmonisation of legal frameworks relating to dual class share structures across the EU to allow founders to maintain greater influence post-listing, according to the report.
The Commission also suggested an innovation gender and diversity index and plans to release recommendations on regulatory sandboxes, which might include lower requirements for innovative enterprises, in the first half of next year.