Speech by President von der Leyen at the European Innovation Council Summit, via video message

Commissioner Zaharieva,
Dear Ekaterina,

Ladies and Gentlemen,

It is a pleasure to welcome you to the fifth European Innovation Council Summit. Today is about showcasing the extraordinary innovation happening across Europe.

Let me give you some examples.

Companies developing microchips inspired by the brain's architecture, or innovators finding new ways to generate green hydrogen using seawater, or scale-ups helping to tackle the challenge of space debris.

These breakthroughs and many others reflect the immense talent we have in Europe. But also, the power of the European Innovation Council Funding.

The EIC Fund has become an engine for European deep tech. It has already mobilised more than EUR 5 billion for over 350 innovative European start-ups. And in the past year alone, three EIC-backed companies became unicorns.

That is a success Europe can be proud of. But we know there is still much work to be done to help European companies scale and grow into global leaders. And that is exactly what this Commission is determined to deliver.

Take the example of an entrepreneur trying to grow a business across Europe. Right now, instead of one market, they face 27 legal systems and more than 60 national company forms. It is too complex, too costly, and too slow.

That's why we have proposed EU Inc. One single European company framework. One simple set of rules across our single market. So that entrepreneurs anywhere in Europe can create a company within 48 hours. Fully online. For less than EUR 100.

That is using the power of our Single Market. That is Europe made simple.

But scaling up is not only about rules. It is also about access to capital. Too often, Europe's most promising tech companies still have to look across oceans for the financing they need to grow. And when that happens, investment and talent often leave Europe too.

We want Europe to be the best place not only to start a company, but also to grow it. That is why I am excited to launch our new European Scaleup Fund. This is the largest European growth-stage equity fund ever created. Privately managed, and ready to begin investing already this year.

With an initial target size of EUR 5 billion - and the capacity to grow even further. The Fund will invest in the strategic technologies that will shape the future of our economy. From AI to quantum. From clean energy to space.

Its purpose is clear: to help European companies grow into global leaders. And to ensure that the technologies, investment, and high-quality jobs of the future remain here in Europe.

Ladies and Gentlemen,

Today's launch is not a one-off. It is part of a new approach to innovation and strategic technologies. An approach that helps great ideas turn into world beating companies. That strengthens Europe's competitiveness. And that ensures the technologies of the future are developed here in Europe.

Thank you and I wish you a productive summit.