(MENAFN) A European Innovation Council (EIC) will be formed at a value of USD2.26 billion in order to support European entrepreneurs in turning into prominent international firms.
This fund was presented by the European Council as it looks to support the urge of innovators to boost global competitiveness.
EU commissioner for research, science and innovation Carlos Moedas revealed the news in a statement issued on Monday.
According to the commissioner, the investment is aiming to form "a whole innovation system to place Europe at the forefront in strategic technologies and innovation that will shape our futures such as artificial intelligence, biotechnology and zero-emission energy."
The council is now scheduled for Friday to enter a meeting in Brussels in order to address economics, industry, and innovation.
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