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European innovation institute and investment fund boost links

Image: EM Karuna, via Shutterstock

Move could help innovative companies access EU funding

Two EU organisations that support innovation have agreed to work more closely together, saying the move could help companies access financing and bolster climate action, digitisation and skills development.

The European Institute of Innovation and Technology, which runs eight innovation networks in areas including health, agriculture and manufacturing, will share more information with the European Investment Fund, which funnels EU money to venture capital funds.

EIT director Martin Kern said the deal, announced on 20 September, would help the companies and entrepreneurs that the institute funds and supports to get “better access” to investment, enabling them to accelerate their innovations.

The European commissioner for research and innovation, Mariya Gabriel, said the tie-up was a “defining moment” for the future of education, research and innovation in the EU.