CYPRadar 🇨🇾💰 Cyprus joins European Tech Champions Initiative 2.0 to boost tech investments
Cyprus has joined the second phase of the European Tech Champions Initiative (ETCI 2.0), a major investment programme aiming to mobilise €80 billion to support over 1,500 fast-growing technology companies across Europe. The initiative, signed by Cyprus and 20 other EU member states including Greece, seeks to increase growth capital for innovative companies and expand the number of investment funds.
Presented by the European Investment Bank (EIB) Group during the ECOFIN meeting in Brussels, ETCI 2.0 aims to raise at least €15 billion and create more than 100 investment funds, including mid-sized growth funds exceeding €300 million. The programme builds on the success of the first phase, which led to 12 European unicorns and significant investments in tech.
Cyprus Finance Minister Makis Keravnos emphasized the importance of the initiative in enhancing Europe’s technological sovereignty and competitiveness. He highlighted ETCI 2.0's role in combining public and private resources to support Europe’s dynamic tech companies and foster their international expansion while maintaining a strong European presence.
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