Europe has built strength in semiconductor equipment and manufacturing, but it lags in chip design. European chip-design firms currently earn less than 1% of global revenues in the segment, according to the European Commission.
Officials argue that Europe cannot build a sustainable semiconductor industry on manufacturing alone. It needs homegrown designers to create demand for European fabrication capacity and automotive, industrial and communications markets.
The announcement reflects growing concern in Brussels over the dominance of the United States and China in advanced technology. The EU wants to prevent its startups from depending on foreign design tools, intellectual property and production capacity. The new platform aims to give them a stronger base to develop and commercialize products within Europe.
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