Bildnachweis: Christian Lue.
EU Inc., the Scaleup Europe Fund, and the AI Act are measures by the European Commission to strengthen the competitiveness of the European start-up ecosystem. In this interview, Maciej Berestecki discusses the EU’s plans and the opportunities for European start-ups.
VC Magazin: The vision of “EU Inc.” – a unified legal form for start-ups – has been well received by the industry. What milestones must we achieve in 2026 for this “28th Regime” to become a genuine, practical alternative for founders and investors in cross-border business?
Berestecki: The EU Inc. proposal will now be negotiated by the European Parliament and the Council. The Commission urges the Parliament and Council to move quickly so that EU Inc. can be adopted by the end of the year. The European Council also called on co-legislators to agree on the proposal by the end of the year. We will work closely with both the Council and the European Parliament for this purpose.
VC Magazin: To survive in the global race for top talent, attractive employee stock option plans (ESOPs) are crucial. Do you see opportunities at the European level to harmonise national efforts, ensuring that start-ups across the EU find equally favourable conditions for talent recruitment?
Berestecki: One objective of EU Inc. is to facilitate talent attraction and retention. EU Inc. companies will be able to set up EU-wide employee stock option plans where taxation would only take place when the shares are sold. This is crucial to enable start-ups to offer globally competitive incentives to attract and retain top talent across the internal market.
VC Magazin: Europe possesses good early-stage financing but often loses ground to international markets during large growth rounds. How can the planned Scaleup Europe Fund help mobilise more private and institutional capital to retain our tech champions in Europe in the long term?
Berestecki: The Scaleup Europe Fund is built on the conviction that Europe’s challenge is not a lack of innovation, but the need to mobilise capital at scale to support companies in their growth phase. We’re already seeing a positive response from the market. The Fund is being developed together with leading public and private institutional investors, and this sends an important signal: investing in European scale-ups is not only a policy objective, but a compelling investment case. By operating at scale, the Fund will be able to lead large growth rounds and syndicate with other European investors, helping to structure deals in Europe rather than seeing them driven from outside. By demonstrating that large-scale, growth-stage investment in European deep tech can deliver competitive returns, the Fund can also help attract further institutional capital and strengthen the overall financing ecosystem.
VC Magazin: Increasingly close synergies are emerging between major innovation hubs such as Berlin, Paris, and Warsaw. How does the Commission intend to leverage this regional diversity to create a networked European ecosystem that can compete globally with other major tech regions?
Berestecki: Innovation hubs such as Berlin, Paris, and Warsaw concentrate innovation activities, but at the same time, it’s important for these locations to be interconnected. This is why the European Commission is launching a pilot action for European Startup and Scaleup Hubs (ESSH) to strengthen interconnection between leading and emerging innovation hubs. The expected outcome is more integrated innovation communities leading to more successful deeptech spin-offs and start-ups.
VC Magazin: With the AI Act, Europe has set new standards. The focus now is on making implementation as efficient as possible for young companies. What specific initiatives are you planning to ensure that regulatory requirements do not hamper the agility of start-ups, but rather strengthen trust in “tech made in Europe”?
Berestecki: Today, Europe‘s most innovative AI development comes from startups and scaleups. What the AI Act does is create a single market and harmonised rules for trustworthy AI in the EU. One concrete initiative that the Act introduces is the AI regulatory sandbox. These are controlled environments where companies can test AI systems under regulatory supervision, helping them meet their obligations before entering the marketplace. The Commission is also helping Member States set up “national sandboxes” to help AI providers comply with the AI Act. For example, the EUSAiR project is piloting AI system testing with SMEs, public authorities, AI Factories, and Testing and Experimentation Facilities. Once adopted, the Digital Omnibus on AI will reduce compliance costs for European businesses, including start-ups. Start-ups and companies can also receive compliance support from the AI Act Service Desk.
VC Magazin: A dynamic venture capital ecosystem requires attractive exit routes. How does the Commission intend to improve the framework conditions of the European capital market to make IPOs within the EU even more attractive for fast-growing technology companies in the future?
Berestecki: Private financing, including from private equity or venture capital funds, plays an important role in supporting young and innovative companies. Ensuring that exit opportunities are available, such as through sales of private equity stakes or through initial public offerings (IPOs), is crucial for the availability of capital. A consultation is currently running, and the input received will inform the Commission’s assessment on whether further action is needed to support exit opportunities through capital markets. EU Inc. will make it easier for companies to grow and attract investment across their lifecycle. For instance, the shares of EU Inc. companies can be traded on multilateral trading facilities (MTFs), which are more flexible and easier to use than traditional stock exchanges. Member States will also be encouraged to allow access to regulated markets, ensuring a clear pathway from growth markets to full listing.
VC Magazin: Thank you very much.
About the interviewee:
Maciej Berestecki has been the European Commission spokesperson responsible for Cohesion, Reforms, Research and Fisheries since December 2024. Previously, he served as a spokesperson in the Commission Representation in Spain, and earlier, he worked on financial service and consumer protection policies in different departments of the Commission. He is a Polish national and holds a university degree in Spanish Philology, European Studies and Economic Policy.
