Europe must boost tech confidence to reduce US reliance
Europe is seeking to strengthen its tech industry and reduce reliance on the US. A new initiative called Project Europe, involving 120 tech entrepreneurs, aims to support young innovators with a €10 million fund to improve access to early capital. The EU faces challenges, including low self-confidence and a lack of major tech companies to support startups. Many successful European entrepreneurs are moving to the US for better opportunities, highlighting the need for improved market conditions and investment in local tech. To retain talent and technology, Europe may need government-led initiatives and strategic investments. While funding is available, the specific allocation remains unclear. Canada’s recent investment in AI serves as a potential model for Europe.