The EuropeanCommission is planning steps to attract 45 billion euros of private funding for "deep tech" start-ups, those making significant advances in science or engineering, according to anEUpolicy documentseen by Reuters .
The document, A new European Innovation Agenda, also said a new Listing Act, planned for later this year, would also reduce the cost of listing the companies on the stock market.
The EuropeanCommission is expectedto announce the proposals at an innovation press conference today.
They aim to help the 27-nation bloc catch up with the United States, Japan and South Korea in cutting-edge technology, venture capital and innovative patents.
"Raise around 45 billion euros from untapped sources of private capitalby 2025 toscale up and potentially reduce the cost of listing on the public market," the document said.
It said companies would find it easier and cheaper to list on the market under the Listing Act, which will be introduced later this year as part of the European Commission's Capital Markets Union (CMU) action plan announced in 2020.
To allow founders to retain greater control after listing, the bill could also propose harmonizing the legal regime related to dual-class structures across the EU, the paper said.
The European Commission has also proposed an Innovation Gender and Diversity Index and will publish so-called regulatory sandbox guidance in the first half of next year, which could include deregulation of innovation projects.
