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8.1 billion euros for innovation

In a pioneering move, Europe’s leading technology companies have joined together in an ambitious collaboration aimed at revolutionizing the world of electronics. This joint effort, backed by an impressive €8.1 billion in state aid from 14 countries, with the potential for an additional €13.7 billion in private investment, marks a major milestone in the advancement of technological innovation.

The collaboration boasts an impressive line-up of participants, including industry giants such as Airbus, ASML, Ericsson, GlobalFoundries, Orange, ADI, Continental Automotive and Bosch. By pooling their expertise and resources, these renowned companies are poised to make transformative strides in the electronics landscape.

Margrethe Vestager, Vice President of the European Commission (EC), expressed the importance of pioneering innovation and the need for Europe to lead change. She stressed the importance of developing truly innovative solutions and ensuring that their first industrial deployments take place in Europe.

These pioneering projects fall under the Important Project of Common European Interest (IPCEI), which gives them the benefit of simpler EU state aid rules. This favorable framework encourages collaboration and facilitates the realization of groundbreaking ideas, boosting Europe’s technological progress.

The ambitious goals of the collaboration are to push the boundaries of what is currently possible in the electronics industry. Thanks to significant financial support and the fostering of a cooperative environment, this collective effort aims to create a wave of innovation that will shape the future of technology. With a strong emphasis on research, development and practical application, the collaboration aims to consolidate Europe’s position as a world leader in electronics, unlocking new opportunities and driving economic growth.

As Europe moves into this new era of technological innovation, the collaboration serves as a testament to the continent’s commitment to remain at the forefront of cutting-edge developments. By combining forces and embracing a shared vision, these industry titans are poised to revolutionize the world of electronics, ultimately benefiting both consumers and industries.