Brussels should set up a €100 billion technology sovereignty fund to compete better in a world dominated by giant American and Chinese tech companies, according to one of Europe’s best-known tech investors.
“Unless we do this, we will become even more dependent on two countries than before,” Hermann Hauser, vice-chair of the European Innovation Council’s (EIC) advisory board, said.
With Hauser’s help, the EIC has established a special tech sovereignty taskforce, to put a greater focus on developing neglected technology areas. “The first task we’ve set ourselves is to make a list of technologies that are so critical to our lives that we’ve really got to do whatever it takes to have our own access to them,” he said in an interview.
Image: Hermann Hauser, vice-chair of the European Innovation Council’s advisory board. Photo: Wikipedia Commons.
