EIB calls on EU to increase “innovation” financing, including AI, quantum computing

Odaily News The European Investment Bank (EIB) has called in a report for an increase in innovation financing in the European Union to strengthen the regions technological leadership. The report highlights the urgent need to remove investment barriers in order to direct funds to key sectors of the EU market. The report mentions the importance of increasing investment in scale-up companies to maintain the EUs technological advantage and global competitiveness. Therefore, closing the financing gap for these companies is seen as key to advancing green tech, artificial intelligence (AI) and quantum computing technologies. As early as June 2021, the European Investment Bank highlighted this theme in the above-mentioned technologies when it published a similar report titled Artificial Intelligence, Blockchain and the Future of Europe. The EIB said that the limited size and depth of the EU capital markets pose a major challenge to innovative companies, especially during the expansion phase when financing is scarce. (Cointelegraph)