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European coalition pushes for second Chips Act funding to boost semiconductor sector
A coalition of nine European Union countries, led by the Netherlands, has been formed to accelerate plans for a potential second funding package under the European Chips...
This initiative aims to present proposals by summer, following the mixed results of the 2023 Chips Act, which, despite preventing a decline in Europe's industry, failed to meet its key objectives due to slow approval processes and less state support than that provided by the U.S. and China. The coalition, which includes Austria, Belgium, Finland, France, Germany, Italy, Poland, Spain, and the Netherlands, is focused on three main priorities: enhancing production capabilities, mobilizing public and private investment, and fostering talent within the sector. The European Chips Act, launched in 2023, aimed to reduce Europe's dependence on foreign semiconductor supplies and bolster the region's technological sovereignty.
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