The European Commission is planning measures to attract 45 billion euros ($47 billion) in private funding for “deep-tech” startups based on significant scientific or engineering advances. EU policy The document seen by Reuters showed.

A new Listing Act is planned for later this year that will cut the cost of stock market floatation for firms, the document, A New European Innovation Agenda, added.

The proposals, which are expected to be announced by the EU executive at a press conference on innovation at 1330 GMT (1500 IST) on Tuesday, are intended to help the 27-nation bloc catch up with the United States, Japan and South Korea. Is. state of the art technologyVenture capital funding and innovative patents.

“About 45 billion euros of funding for scale-up could be mobilized by 2025 from untapped sources private capitalAnd the cost of listing in the public markets can also be reduced,” the document said.

It said companies would find it easier and cheaper to list on the market under a Listing Act to be proposed in the second half of the year, which is part of the Commission’s Capital Markets Union (CMU) action plan announced in 2020.

The paper may also propose harmonization of legal arrangements relating to dual-class share structures in the European Union, in order to allow founders to retain greater control after listing, the paper said.

The commission also proposed an innovation gender and diversity index, and will issue guidance in the first half of next year on a so-called regulatory sandbox that could include relaxed rules for innovative projects.

Bloomberg first reported the EU plans.

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