On the occasion of the Lisbon Websummit, the European Investment Bank (EIB) and the European Investment Fund (EIF) announced the launch of a new financing facility in the form of a co-investment instrument ofup to €150 million to support artificial intelligence companies across Europe.

This initiative, which is part of the EU’s overall support to the European ecosystem of excellence and trust in AI and the Commission’s European Digital Agenda, will primarily target early stage or growth stage companies by investing in the development of innovative applications and technologies directly related to AI such as block chain, internet of things and robotics.

It builds on and complements the expertise that the EIB and the EIF have developed in this field through the EUR 100 million InnovFin pilot project on AI and the block chain and the EIB’s direct financing of artificial intelligence companies through its Seed Loan Investment Facility.

Internal Market Commissioner Thierry Breton said in this regard :

“Europe has all the assets to become a pole of development for cutting-edge artificial intelligence. We have the necessary talent and a wealth of industrial data, which will give us a major comparative advantage if we use it wisely.

We are establishing a framework to mobilize our resources and build trust, including through clear and predictable rules. The co-investment instrument announced today will strengthen support for EU businesses to grow through the design and deployment of trustworthy AI³d.

Working with private investors, the EIB expects to support around 20-30 small and medium-sized enterprises. The new funds will be available in the EU and in the countries associated with the Horizon 2020 programme and are expected to be deployed over the next four years.

Translated from Lancement d’un nouvel instrument européen de 150 millions d’euros pour soutenir les entreprises du secteur de l’intelligence artificielle