TechFlow reported on October 21 that Cointelegraph reported that the European Commission announced the launch of the Trusted Investors Network program, which aims to attract venture capital into deep technology fields such as biotechnology and artificial intelligence. European Commissioner Iliana Ivanova said that the program has brought together 71 European investors with more than 90 billion euros (about 98 billion U.S. dollars) in assets under management, and has pledged to invest in European deep technology companies.

The plan focuses on biotechnology and semiconductors used in artificial intelligence development to enhance the EU's position in the global competition for technological innovation. The European Central Bank previously released a report calling for accelerated and expanded investment in Europe's technology sector to maintain competitiveness.