European Union

The European Union, primarily through its Horizon Europe program, serves as a significant governmental funder of research and innovation across Europe. With a budget of €95.5 billion for 2021-2027, its overarching goals include strengthening the EU's scientific and technological bases, boosting innovation capacity, and addressing citizen priorities. Horizon Europe focuses on impact for the European Green Deal, digital and sustainability transitions, and recovery from crises. The EU also supports SMEs' access to venture capital via programs like InvestEU and the European Tech Champions Initiative, aiming to leverage substantial private investments into high-priority policy areas, rather than acting as a direct traditional VC fund.