France, Germany Call for EU Startup Funding

In a paper presented to European Union leaders at the Balkan summit last week, Berlin and Paris urged the European Innovation Council to fund innovative start-up projects across the bloc in order for the region to catch up with other tech superpowers.

The EU heavyweights are pushing to create a network to attract and grow “ambitious” tech startups and wishes for other EU member countries to follow their national initiatives. France has already committed 1.5 billion euros ($1.75 billion) to the artificial intelligence industry to counter the brain drain caused by China and the US.

The two countries are said to be pushing for reforms in a number of sectors ahead of the EU summit in June to boost the growth of digital technologies in Europe.

Source: Reuters