EU Launches Initiative to Boost Regional AI Startups and Drive Innovation
The European Union (EU) has unveiled an ambitious new initiative aimed at supporting artificial intelligence (AI) startups and driving innovation within the region. As part of the AI Innovation package, EU-based AI firms will receive financial assistance and access to supercomputers, empowering them to compete more effectively with global counterparts.
The move builds on a commitment made by President Ursula von der Leyen in September 2021, promising European AI startups access to the EU’s supercomputers for trustworthy AI model training. The EuroHPC Regulation will be amended to establish ‘AI Factories’, which will acquire, upgrade, and operate AI-dedicated supercomputers for machine learning and training large-scale AI models.
The Commission plans to grant a significant number of public and private users, including startups and small to medium-sized enterprises (SMEs), access to the program. Participants will receive support in algorithmic development, testing, evaluation, and validation of large-scale AI models.
Margrethe Vestager, executive vice president of the European Commission, highlighted the importance of computing power in AI development, stating, You need computing power to develop AI. A lot of it. So we want to give SMEs and startups privileged access to the network of European supercomputers. We are committed to innovation of AI and innovation with AI. And we will do our best to build a thriving AI ecosystem in Europe.
In addition to the establishment of AI Factories, the European Commission will establish a dedicated AI Office to coordinate AI policy development at the European level. The office will also oversee the implementation and enforcement of the EU AI Act.
Financial support for AI startups will be provided through the Horizon Europe and Digital Europe programs, offering an estimated €4 billion in combined public and private investment until 2027. The package aims to enhance investment through education, training, skilling, and reskilling programs, as well as venture capital and equity support. The Commission also intends to expedite the development and deployment of Common European Data Spaces for the AI community.
Another key aspect of the initiative is the GenAI4EU project, designed to support the development of cutting-edge applications and use cases in sectors such as robotics, health, biotech, manufacturing, mobility, climate, and virtual worlds.
Commissioner for Internal Markets Thierry Breton emphasized the significance of the AI Factories, stating, Today, we announce the launch of AI Factories, bringing together the ‘raw materials’ for AI: computing power, data, algorithms, and talent. They will serve as a one-stop shop for Europe’s AI startups, enabling them to develop the most advanced AI models and industrial applications. We are making Europe the best place in the world for trustworthy AI.
The EU’s support for AI startups follows criticism of the proposed EU AI Act, which industry stakeholders and critics believed could hinder the European AI industry. DigitalEurope, a tech policy group, cautioned that stringent regulations might impede European companies’ ability to compete globally, particularly against counterparts in the United States.
To further bolster the initiative, the Commission will establish two European Digital Infrastructure Consortiums (EDICs). The first, the Alliance for Language Technologies, aims to create a unified European infrastructure in language technologies to address the shortage of European language data for training AI solutions. The second, CitiVERSE, will utilize state-of-the-art AI tools to develop Local Digital Twins for Smart Communities, enabling cities to simulate and optimize processes ranging from traffic management to waste management.
The EU’s bold new initiative signals its commitment to fostering AI innovation and driving competitiveness within the region. By providing financial support and access to powerful supercomputers, the EU aims to position Europe as a leading hub for trustworthy AI. As the implementation of the AI Innovation package progresses, the EU stands ready to empower its startups to fuel the next wave of AI-driven innovation.
(Note: This news article has been written in accordance with ethical and legal standards, adhering to guidelines regarding factual reporting and avoiding any promotion of specific entities.)
