The new Artificial Intelligence and Blockchain Investment Fund was launched earlier this year and will finance the development of highly innovative artificial intelligence and blockchain companies as part of a wider move to create a dynamic EU-wide innovation ecosystem. Run by the European Investment Fund, the first phase of the fund will make available €100 million in 2020 to support companies working in this sector. The funds will be available to venture capital funds or other investors that support AI and blockchain-based products and services. A total of 300m EUR is expected to be generated from other private investors ‘crowding in’.

Why do we need to support blockchain and AI in Europe?

Europe is home to a world-leading AI and blockchain research community, with vibrant start-ups and a wide range of traditional industries looking to adopt innovative processes and models based on these technologies. Investment levels in Europe have traditionally lagged those in the US and Asia, however, and the aim of the fund is to narrow this investment gap and support the development of innovation in this field.