European Tech Champions Initiative (ETCI)
Funding for innovative start-ups in Europe
Spain is contributing €1 billion to this initiative through Fond-ICO Next Tech.
The European Tech Champions Initiative (ETCI) is a fund of funds that provides financing to Europe's innovative start-ups to create an entrepreneurial ecosystem with global potential.
ECTI already has commitments of €3.75 billion from the governments of Spain, Germany, France, Italy, Belgium, and the European Investment Bank Group (EIB).
The fund will strengthen the European venture capital market for growing start-ups to facilitate financing, especially for those seeking to raise amounts of more than €50 million.