The European Investment Bank (EIB), in cooperation with all 27 EU member states, institutional investors and fund managers, is launching the second phase of the European Tech Champions Initiative (ETCI 2.0), an ambitious European initiative aimed at boosting fast-growing technology companies.Greece and Cyprus are among the 27 countries supporting the new investment alliance, reaffirming their commitment to strengthening European innovation and expanding access to growth capital for innovative businesses. Through ETCI 2.0, Europe aims to mobilise 80 billion dollars in investments to support more than 1,500 high-growth technology companies, helping create the next generation of European technology leaders and strengthening the competitiveness of the European economy.The initiative was presented in Brussels on the sidelines of the ECOFIN meeting, where the EIB Group, participating member states and private investors confirmed their support for its new phase. ETCI 2.0 aims to strengthen financing for European technology companies in rapid-growth stages through equity investments, enabling them to raise significant capital to expand, innovate and maintain their headquarters and operations in Europe.The first phase of the European Tech Champions Initiative (ETCI) has already delivered significant results, supporting 15 major European investment funds that finance innovative high-growth companies through equity investments. These funds have contributed to the development of 12 European “unicorns” — companies valued at more than 1 billion euros — strengthening Europe’s innovation ecosystem and competitiveness.Investments of up to 80 billionBuilding on this success, ETCI 2.0 is significantly expanding, with the goal of supporting even more European technology companies in rapid-growth stages. The new initiative seeks to raise at least 15 billion euros in capital, an amount almost four times larger than in the first phase.Through these funds, total investments of up to 80 billion are expected to be mobilised, benefiting more than 1,500 European technology companies and contributing to the creation of new global innovation and technology leaders headquartered in EU member states.The initial size of ETCI 2.0 will be determined in the second half of 2026, following the completion of the first fundraising phase involving member states, the EIB Group and private investors.The EIB Group will contribute up to 1.25 billion euros from its own resources to ETCI 2.0, helping mobilise significantly larger investments for the growth of European technology companies.The initiative will support both large European investment funds and, for the first time, medium-sized growth funds with capital exceeding 300 million, broadening financing options for innovative high-growth companies. At the same time, a common European investment platform will be created to facilitate cooperation between investors and technology investment funds and enhance access to investment opportunities across Europe through a dedicated digital tool.Greek Minister of National Economy and Finance and President of the Eurogroup Kyriakos Pierrakakis said:“Europe cannot claim a leading role in the technologies of the future if its most innovative companies are seeking the capital they need outside Europe. ETCI 2.0 represents a strategic response to the major challenge of increasing European competitiveness and, ultimately, the living standards of all our citizens.We are bringing together public and private resources to create more opportunities for financing innovation in Greece and Europe, where we want the next European technology champions to be born, grow and remain.Greece is actively participating in this new European investment alliance because competitiveness, innovation and technological sovereignty are built through joint European investments and a common strategy.When Europe invests more in itself, it invests in its economic strength, its autonomy and the opportunities created for future generations.”