The European Commission (EC) escalated a push to encourage innovation by deep-tech start-ups through a set of funding schemes worth €1.4 billion, an initiative which will include participation from external investors and ecosystem players.

Announcement of the funding package comes a little over a week after the body introduced an agenda designed to link European start-ups with technology investors.

In a statement, EC explained it intends to disburse the new funding next year through the European Innovation Council (EIC), a unit dedicated to promoting the economic potential of start-ups.

The new funding opportunities fall under the EIC 2025 work programme, which EC adopted today. The total €1.4 billion financing is split into four key schemes, each complemented with “access to a wide range of Business Acceleration Services providing access to leading expertise, corporates, investors and ecosystem actors”.

According to EC, the 2025 work programme “represents an increase of nearly €200 million” in investment compared to this year.

The European body said €120 million has been set aside for start ups focusing on emerging technologies including autonomous robots, climate tech and medical diagnosis, while €250 million is earmarked for “earlier stage companies” specialising in technologies including AI, new space, agritech and “future mobility solutions”.

“The European Innovation Council has emerged as a gamechanger in EU support to breakthrough innovation,” said European Commissioner for Innovation, Research, Culture, Education and Youth, Iliana Ivanova.

“In 2025, it will boost EU deep tech with even more resources, amounting to €1.4 billion from Horizon Europe, our research and innovation programme.”