Stéphane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy, emphasized the need to cut red tape and enhance financing to position Europe as a leader in global innovation.

Experts stress the importance of actionable steps following the strategy's announcement, highlighting the need for engagement with founders to ensure effective implementation.

The strategy comes at a pivotal time as Europe seeks to reduce its reliance on US technology while maintaining essential trade relations.

The plan includes nearly 30 proposals to address regulatory, funding, talent, and infrastructure challenges over the next two years.

The European Commission has unveiled the 'EU Startup and Scaleup Strategy' to bolster the growth of startups and scaleups across the European Union.

This comprehensive strategy focuses on five key areas: fostering innovation, improving financing access, supporting market expansion, attracting top talent, and enhancing infrastructure.

A significant aspect of the strategy is the proposed 'European 28th regime', aimed at simplifying regulations and unifying labor and tax laws among EU member states.

To facilitate smoother interactions with public administrations, the strategy will introduce the European Business Wallet, providing startups with a unified digital identity.

The initiative includes the 'Blue Carpet' program, which aims to attract high-skilled talent, particularly non-EU founders, through reforms in stock option taxation and expedited visa processes.

Additionally, the European Innovation Act will establish regulatory sandboxes, allowing startups to test innovations without the burden of regulatory constraints.

This strategy follows a recent initiative by President Ursula von der Leyen, which aims to attract foreign researchers with a budget of 500 million euros until 2027.

Ultimately, the EU aims to become a leading destination for talent, especially as US policies become more restrictive in education and research.