EU Tech Firms Advocate for Sovereign Infrastructure Fund to Boost Tech Independence

In a concerted effort to enhance Europe’s technological autonomy, over 90 European technology companies and industry groups, including prominent entities like Airbus and Dassault Systèmes, have appealed to European Commission President Ursula von der Leyen to establish a sovereign infrastructure fund dedicated to advancing investments in cutting-edge technologies.

According to Reuters, the coalition emphasized the pressing need for Europe to assert greater control over its critical digital infrastructure, spanning from software applications and artificial intelligence frameworks to essential hardware components such as semiconductors and data storage solutions. The open letter, dated March 14, underscored that Europe’s existing dependencies pose risks to security and reliability, potentially undermining sovereignty and economic growth.

Per Reuters, the proposed sovereign infrastructure fund aims to address these challenges by channeling investments into capital-intensive sectors, notably quantum technologies and semiconductor manufacturing. The initiative seeks to reduce reliance on external entities and bolster Europe’s position in the global technology landscape.

Additionally, the coalition has advocated for the adoption of a “buy European” policy in government procurement processes. This strategy is intended to stimulate demand for European technology products and services, thereby encouraging domestic investment and fostering a competitive environment for local suppliers. The objective is not to exclude non-European players but to create conditions where European companies can compete effectively and justify further investments.

Signatories of the letter encompass a diverse array of organizations, including French cloud services provider OVH Cloud, the European Software Institute, the European Startup Network, the German AI Association, the Amsterdam Internet Exchange (AMS-IX), and French public investment bank BPI France. This collective action reflects a unified stance on the necessity of strategic initiatives to secure Europe’s technological future.

The letter was also addressed to EU tech chief Henna Virkkunen, highlighting the broad-based support for measures aimed at enhancing Europe’s technological sovereignty.

Source: Reuters