Technology-driven change challenges brought by climatic changes and demographic shifts are the key priorities set out by European Commission president, Ursula Von Der Leyen. “A European continent that is fit for the digital era,” and “an economy that works for people” are the goals set by Ursula in a drafted document called My Agenda for Europe. According to Ursula, by 2050, Europe will be the first continent in the universe to be carbon-free if they undertake their projects well.
With the motive of making Europe the best continent in circular economy and technology, Ursula pledged to invest more in innovations and research. Addressing the EU parliament, Ursula attested that Europe’s new growth plan was the “Green Deal.” She added that the Green Deal would require a lot of investment from both public and private investors to invest in the training of people, researching, and infrastructure. According to Ursula, the strategy would assist in creating new markets by creating and innovating new tech.
Ursula also presented an agenda that would include an emphasis on sustainable resource use and reduction of plastic wastes to attain a circular economy.
Support for startups to scale up
Supporting entrepreneurs to rise to create big firms is also on Ursula’s five-year strategy. On her Agenda to improve access for startups, Von Der Leyen claims that Europe requires several young and potential innovators with breakthrough tech. Ursula is also projecting on reducing the fragmentation of capital across the continent by completing the Capital Markets Union. It will see the pan-EU finance market expands over time.
Von Der Leyen intends to develop a private-public fund focusing on Initial Public Offerings of SMEs.
For Europe to lead in technology innovation and creation, Von Der Layen claimed that Europe had to own major tech innovations. She added that Europe had to invest and be knowledgeable of the trending tech, mainly; artificial intelligence, quantum computing, chip tech, and blockchain. According to Bloomberg, Von Der Layens commission is budgeting a $3.9 billion to invest in startups that ventures on biotech, AI, and health tech. According to Ursula, it might not be too late for Europe to acquire tech sovereignty in most tech areas.
Ursula plans on updating the Digital Education Action Plan to educate youths and offer digital skills to adults.
However, Von Der Layen’s commission is keen on the Cyptocurrency trend. The commission claimed that they were ready to tackle issues brought by cryptocurrencies. Also, they were prepared to act to make sure that they attain financial conditions, orderly monetary, and consumer protection.