EU Competitiveness Fund: the proposal to Driving Europe’s prosperity and competitiveness
As a direct follow-up to the Letta and Draghi Reports and a response to today’s economic, technological and geopolitical challenges, the European Commission’s proposal for the European Competitiveness Fund marks a major step forward in shaping a stronger, more resilient and innovative Union.
At the heart of the 2028–2034 Multiannual Financial Framework, the new European Competitiveness Fund will invest in strategic technologies that strengthen Europe’s autonomy and long-term growth. Guided by a single rulebook and a streamlined application process, the Fund will simplify access to EU financing, accelerate investments and catalyse public and private capital across the entire Single Market.
The Fund will supposely focus its support on four key areas central to Europe’s future prosperity:
- Clean transition and decarbonisation, to advance climate neutrality and energy independence;
- Digital transition, driving data, AI and advanced connectivity;
- Health, biotech, agriculture and bioeconomy, fostering innovation and food security;
- Defence and space, securing Europe’s technological sovereignty and strategic resilience.
Closely linked with Horizon Europe, the EU’s flagship research and innovation programme worth EUR 175 billion, the Competitiveness Fund will support the entire innovation journey — from research and development to market scale-up. This integrated approach will reduce administrative burdens, shorten disbursement times, and enhance the impact of every euro invested.
The Fund’s launch also aligns with the renewed drive to complete the EU Single Market, supported by the Single Market and Customs Programme. By removing cross-border barriers and deepening cooperation among national administrations, the EU aims to unlock new growth opportunities for citizens and businesses alike.
In an era marked by global competition and rapid transformation, the new Competitiveness Fund embodies Europe’s commitment to lead in innovation, strengthen its economic base, and secure a sustainable future for all Europeans.
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