European Chips Act strengthens Europe’s technological leadership

Renew Europe is convinced that the European Chips Act, adopted today in plenary, bolsters European companies’ competitiveness in semiconductor technologies. It is a huge leap forward towards strategic digital autonomy within the Union. 3.3 billion euros is allotted from the EU budget for the period until 2027 to increase technological capacity and promote innovation within the field.

The Chips Act is the blueprint for creating a more favorable investment climate for European industries. This does not just apply to chip-producers. During the interinstitutional negotiations leading up to the final legislative text, Renew Europe made sure that all relevant players, from equipment to design and research, benefit. It also secured the minimization of administrative burdens for European enterprises, especially SMEs who will also receive additional incentives. Renew also managed to make the Act relevant in the current geopolitical context, emphasizing international cooperation and the protection of intellectual property.

Bart Groothuis (VVD/Netherlands), who represented Renew Europe in the negotiations, says:

"The Chips Act does not just invest in the competitiveness of the European semiconductor industry, but also its diplomacy. It does so by intensifying cooperation with strategic partners and protecting intellectual property and industrial interests from our rivals. And this time at a European level. This is how Europe becomes a relevant player in today's geopolitical reality."