Christian Hartmann | Reuters
Although U.S. digital platforms have contributed to a “great transformation” of society following the coronavirus outbreak, there must be a “European solution and European sovereignty” when it comes to technology, Macron said.
“We need European funding, European solutions, European talent, European regulations,” Macron said in a conversation with Niklas Zennström, the Swedish billionaire who co-founded Skype.
“We have regulations… but we don’t have the equivalent of these very, very large caps,” Macron added, referring to highly regarded technology companies in the United States like Google, Apple, Facebook and Amazon.
- More European Union integration on things like seed funding
- A “digital single market” promoting confidentiality and technological innovation
- European cloud and data solutions to reduce reliance on US businesses
Digital sovereignty has become an integral concept in the EU’s attempt to become a global tech powerhouse, fighting the dominance of big US tech companies.
The bloc is soon set to unveil revolutionary new rules governing digital markets and services, which could have significant consequences for US giants like Google and Facebook.
Meanwhile, the European Commission, Germany and France are working on an initiative to reduce reliance on the US and Chinese cloud giants. Dubbed Gaia-X, the project aims to develop a new framework for data infrastructure in Europe – essentially plans for the future European cloud provider.
Atomico, Zennström’s venture capital firm, released a report on Tuesday showing that Europe’s tech sector is on track to win more than $ 41 billion in startup investments in 2020. It also highlighted the related challenges the mobilization of growth funds and the diversification of technology.