57. What conditions exist with regard to the establishment of an investment fund in which the new KIC contributes funds, but other public and private investors contribute much more?

Answer: 

The establishment of KIC Funds have to follow strict principles. The principles for these initiatives are being updated to align with Horizon Europe and will be adopted by the EIT GB in the course of Q4 2021, and published on the EIT website. KICs already work with investors (VCs and angels) in their respective industry sectors and geographies, to present them investable start-ups / scale-ups. Over the last 10+ years of activities, supported start-ups / scale-ups by EIT KICs have raised over 3 Bln EUR in external funding, following the acceleration and business creation services they received from KICs. KICs usually have participations in the start-ups / scale-ups they support in the form of options or equity, which can contribute to KIC financial sustainability, in the case of follow-on favourable financial events for these supported start-ups / scale-ups, such as next investment round or equity sale.