On April 8th, the EU Commission is launching ESCALAR, a new investment approach, developed together with the European Investment Fund (EIF), that will support venture capital and growth financing for promising start-ups, enabling them to scale up in Europe and help reinforce Europe's economic and technological sovereignty. It will provide up to € 300 million aiming to increase the investment capacity of venture capital and private equity funds, triggering investments of up to € 1.2 billion, or four times the original investment, to support promising companies.

With the launch of ESCALAR, the Commission is delivering on one of the actions announced in the new SME strategy to improve access to finance for start-ups. This initiative isparticularly relevant in the difficult economic situation which start-ups are currently facing due to the coronavirus outbreak. It will support innovative companies during and after the crisis, to ensure that Europe can develop and stay at the helm of global technological developments and accelerate its economic recovery.

The South Korean government announced a push on May 14th,2020, for a government-private sector fund to help startups in outh Korea moving toward the goal of becoming global giants, which represents Moon's resolve to promote the country's digital economy in preparation for the postcoronavirus era. The joint fund named "the Smart Republic of Korea Fund" and the government will seek with the private sector to invest in new industries. The government will mobilize all available resources to revive "the flame of innovative growth". Since its launch, Moon's administration has endeavored to make South Korea play a leading role in the global start-up ecosystem. The drive has produced some accomplishments, including a hike in the number of unicorns based in the nation. 21 South Koreans on the Forbes list of "30 Under 30 Asia" which features 300 innovators and entrepreneurs across Asia, all under the age of 30, updating each year.