European Tech Leaders Urge Sovereign Fund for Autonomy

Airbus and over 90 other European tech companies and lobby groups have urgently called for the European Commission to establish a sovereign infrastructure fund to enhance public investment in technology and bolster European autonomy. In an open letter, the signatories emphasized the need for Europe to regain technological independence across all layers of digital infrastructure, warning that current dependencies on non-European technologies pose security risks and hinder economic growth. They proposed that the sovereign fund focus particularly on capital-intensive areas, including quantum technologies and semiconductor development. Additionally, the letter advocates for a 'buy European' policy in public procurement to stimulate demand for local suppliers, aiming to create a competitive environment without excluding non-European players. These calls come amid heightened concerns regarding U.S.-EU relations, prompting the need for a cohesive industrial policy to ensure Europe's strategic autonomy. The letter was addressed to European Commission President Ursula von der Leyen and EU tech chief Henna Virkkunen.