EU Launches 'Choose Europe to Start and Scale' Strategy for Innovation and Growth
The European Commission has launched the 'Choose Europe to Start and Scale' strategy. This initiative aims to foster innovation and growth in the EU by supporting startups and scaleups. The strategy targets five key areas and will be tracked using global key performance indicators, with progress reports due by the end of 2027.
The EU recognises the crucial role of startups and scaleups in driving economic growth, job creation, and sustainability. The strategy seeks to create a vibrant playing field by reducing regulatory burdens and encouraging technology-driven companies.
The strategy focuses on five main areas. Firstly, it aims to foster an innovation-friendly environment. Secondly, it drives better financing through the European Innovation Council (EIC) and the Scale-up Europe Fund. These initiatives support research organisations, innovation hubs, and financial intermediaries. Thirdly, it supports market uptake by improving access to markets and customers. Fourthly, it attracts and retains talent through initiatives like the 'Choose Europe' initiative. Lastly, it facilitates access to infrastructure, including digital infrastructure.
The 'Choose Europe to Start and Scale' strategy is part of President von der Leyen's broader 'Choose Europe' initiative. It aims to create a vibrant ecosystem for startups and scaleups, driving innovation, growth, and job creation in the EU. The European Commission will track the strategy's progress and report on its implementation by the end of 2027.
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