The European Union has announced a significant boost in funding for deeptech research and strategic scale-ups, with a budget of €1.4 billion (approximately $1.5 billion) for 2025. The increased investment aims to support innovation in areas such as AI, low-carbon technologies, agritech, and biotech. The European Innovation Council's Work Program for 2025 includes funding schemes for research-focused Pathfinder projects, commercialization-focused Transition projects, and startup/SME-focused Accelerator projects.

Source: https://techcrunch.com/2024/10/29/eu-boosts-eic-budget-for-supporting-deeptech-rd-and-strategic-scale-ups/