Europe investing billions in development of semiconductor market

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A coalition of 13 countries within the EU has announced a push to catch up in the semiconductor market. The countries feel that the EU is too dependent on foreign technology.

The partnership consists of France, Germany, Belgium, Croatia, Estonia, Finland, Greece, Italy, Malta, the Netherlands, Portugal and Slovenia, Reuters mentions.

Europe lagging behind

The 13 countries believe that Europe is lagging far behind in the development of semiconductor products. Presently, only around 10 percent of that market takes place within the EU. As we become more dependent on microchips for cars, medical equipment, mobile phones, networks and environmental monitoring, depending on foreign technology for this purpose poses more and more security risks.

To this end, the group intends to form an alliance with technology companies for research and investment in the design and construction of processors. The EU has previously allocated 145 billion euros for digital projects.

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Digital sovereignty

“A collective approach can help us leverage our existing strengths and embrace new opportunities as advanced processor chips play an ever more important role for Europe’s industrial strategy and digital sovereignty,” said EU Digital Chief Thierry Breton.

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