The European Union has announced the launch of the Trusted Investors Network, a collaboration between 71 investors representing over €90 billion in assets. This network aims to co-invest in innovative tech projects in the region, particularly in high-risk deep tech companies that struggle to find the right investors in Europe. The Union’s investment comes from the European Innovation Council Fund, which has already invested nearly €1 billion in 251 companies and attracted over €4 billion in co-investments. The Trusted Investors Network Charter outlines the group’s values and investment best practices, and was signed by all members. The launch took place at the EIC Scaling Summit in Athens, where 72 new tech startups joined the EIC Scaling Club. The E.U. aims to scale 20% of these members into unicorns, and they have collectively raised over €73 million. In addition, the Commission announced plans to enhance the European Research Area, focusing on increasing investment, improving research quality, and translating scientific advancements into economic benefits. These efforts aim to bridge the funding gap and help the E.U. compete with other global superpowers in the tech sector. However, the E.U. has received criticism for falling behind in developing cutting-edge technologies, with experts citing the need for better translation of innovation into commercialization. Despite this, the top three R&I investors in Europe are in tech, highlighting the potential for growth in the region.