Latest news with #StephaneSejourne
Mint
6 days ago
- Business
- Mint
EU aims to cut red tape, boost funding to lure tech startups
The European Union set out plans to slash regulation and set up a special fund to attract tech startups as the bloc plays catchup with the U.S. on financing and innovation. The European Commission, the EU's executive arm, said regulatory fragmentation across the EU's 27 countries and inadequate financing were holding back growth for startups. Officials now hope to lower the administrative burden and launch a new fund to make it easier for startups to set up shop in the EU. Under the plans, the commission will seek to simplify rules, including on labor and tax law, so that startups can launch rapidly in Europe, ideally within 48 hours. Officials also plan to work with private investors to launch a new fund. The so-called Scaleup Europe Fund, privately managed and co-financed, will be part of the existing European Innovation Council Fund. 'We cut red tape, we facilitate their access to financing, we improve their ability to do business across our Single Market," Stephane Sejourne, EU executive vice-president for prosperity and industrial strategy, said in a statement. 'In other words, we want to put Europe right in the middle of the global innovation map, for companies and investors." The plan underscores efforts from EU officials to make the bloc more welcoming for startups and narrow the financing and innovation gap with the U.S. The EU is home to startups like France's Mistral AI and Germany's Aleph Alpha, but companies in the bloc struggle to raise the billions of dollars in funding and venture capital that are available to U.S. rivals like Microsoft-backed OpenAI or Anthropic. A commission official acknowledged that access to finance is an area of weakness, saying that startups in the bloc have roughly seven times less capital available to grow than in the U.S. Speed is another factor holding back growth, the official said, noting the EU can be 'very slow" in granting approvals. Europe's fragmented regulatory landscape is a recurring frustration for startups, but fundraising remains the top concern for founders, according to a May report from Slush, part of the Finnish not-for-profit Startup Foundation. Out of 607 responses from early-stage European startups collected in the first quarter, just 18% of founders said it would be easy to raise financing right now, according to the report, while 57% actively disagree. Ekaterina Zaharieva, EU commissioner for startups, research and innovation, said the plans would remove those barriers that hold back entrepreneurs. 'Europe is ready to scale up." Write to Mauro Orru at
Bloomberg
21-05-2025
- Business
- Bloomberg
New EU Plan Boosts Strategic Growth Sectors: Sejourne
European Commission Vice-President Stephane Sejourne, who's in charge of the bloc's industrial strategy, comments on plans to boost strategic sectors like technology, pharmaceuticals, auto manufacturing, aluminum and steel. The Commission, the European Union's executive arm, unveiled on Wednesday a strategy to remove barriers and foster cooperation among member states in the face of rising geopolitical tensions and a growing trade conflict with the US. Sejourne was speaking to Bloomberg's Oliver Crook in Brussels. (French with English translation.) (Source: Bloomberg)
Yahoo
21-05-2025
- Business
- Yahoo
EU plans to slash red tape for medium-sized companies
The EU unveiled plans Wednesday to cut red tape for medium-sized companies and abolish barriers for businesses to sell goods across the bloc as part of its efforts to catch up with China and the United States. The European Union wants to make doing business in the 27-country bloc easier and attract investment, as US President Donald Trump pushes an America First policy. The latest raft of proposals come after the EU said earlier this year it would simplify environmental rules for farmers and businesses to boost economic growth. Brussels wants medium-sized businesses to benefit from some of the same exemptions -- including on data protection rules -- previously enjoyed only by smaller firms, to reduce their administrative burden. "The aim is to help small and medium-sized businesses grow," EU industry chief Stephane Sejourne said. The changes create a new category of companies, "small mid-caps", which have between 250 and 750 employees, and either up to 150 million euros ($170 million) in turnover or up to 129 million euros in total assets, the European Commission said. There are nearly 38,000 firms that meet the criteria in the EU, it said. The proposals will need to be approved by the EU parliament and member states. "This package will cut a further 400 million euros from the cost of doing business in the EU," the bloc's economy tsar Valdis Dombrovskis said. Confronted by sluggish economic growth, two landmark reports by former Italian prime ministers last year raised the alarm that Europe needed to fix its fragmented single market to fully reap its economic benefits. On Wednesday Brussels also announced plans to make it easier for EU citizens to work in different states through the faster recognition of professional qualifications, and allowing firms to submit paperwork online. The EU also wants to establish common labelling so companies can sell the same product in EU states without the need for different labels. Manufacturers will also be able to get rid of paper manuals for products and direct customers to digital versions instead. aro-raz/ub/rmb
France 24
21-05-2025
- Business
- France 24
EU plans to slash red tape for medium-sized companies
The European Union wants to make doing business in the 27-country bloc easier and attract investment, as US President Donald Trump pushes an America First policy. The latest raft of proposals come after the EU said earlier this year it would simplify environmental rules for farmers and businesses to boost economic growth. Brussels wants medium-sized businesses to benefit from some of the same exemptions -- including on data protection rules -- previously enjoyed only by smaller firms, to reduce their administrative burden. "The aim is to help small and medium-sized businesses grow," EU industry chief Stephane Sejourne said. The changes create a new category of companies, "small mid-caps", which have between 250 and 750 employees, and either up to 150 million euros ($170 million) in turnover or up to 129 million euros in total assets, the European Commission said. There are nearly 38,000 firms that meet the criteria in the EU, it said. The proposals will need to be approved by the EU parliament and member states. "This package will cut a further 400 million euros from the cost of doing business in the EU," the bloc's economy tsar Valdis Dombrovskis said. Confronted by sluggish economic growth, two landmark reports by former Italian prime ministers last year raised the alarm that Europe needed to fix its fragmented single market to fully reap its economic benefits. On Wednesday Brussels also announced plans to make it easier for EU citizens to work in different states through the faster recognition of professional qualifications, and allowing firms to submit paperwork online. The EU also wants to establish common labelling so companies can sell the same product in EU states without the need for different labels. Manufacturers will also be able to get rid of paper manuals for products and direct customers to digital versions instead.
Korea Herald
13-05-2025
- Business
- Korea Herald
Czech-Korean nuclear deal under EU scrutiny
A landmark $18 billion nuclear power plant deal between South Korea and the Czech Republic has come under renewed pressure after the European Union raised objections to the project, according to industry sources on Tuesday. Korea Hydro & Nuclear Power and a subsidiary of Czech state-run utility CEZ were set to sign a contract last week for the construction of two 1,055-megawatt nuclear reactors at the Dukovany Nuclear Power Plant. However, the signing was suspended after a regional court granted a preliminary injunction at the request of France's EDF, the losing bidder in the tender. On Monday, local media outlet Euractiv reported that French European Commissioner Stephane Sejourne had sent a letter to the Czech Industry and Trade Ministry on May 2 – the same day EDF filed for the injunction — urging the government to halt the nuclear deal with Korea. The Brno Regional Court issued the injunction on May 6, effectively canceling the signing ceremony scheduled for the following day. In the letter, Sejourne noted the Commission has already started examining whether KHNP received any state aid that could be considered illegal under the EU Foreign Subsidy Regulation when it won the tender to build the two reactors. The Czech Republic should not sign the deal until the investigation is complete, the commissioner said. 'In this regard, the duty of sincere cooperation requires Czechia to avoid any situation that would irreversibly run counter to concerns set out in this letter and that could give rise to irreversible effects that prevent the FSR from being applied effectively,' Sejourne wrote, using the Czech government's preferred name for the country. Sejourne's statement repeats the EDF's claim that KHNP may have received government subsidies, potentially violating EU competition rules. The French company has also argued that KHNP's fixed-price offer is unrealistically low and financially unsustainable. Citing these reasons, the EDF has continued to challenge the Czech Republic's selection of KHNP since its own bid fell through last July. Later on Monday, Commission spokesperson Thomas Regnier clarified that Sejourne's letter was 'absolutely not a request to put things on hold.' 'Here it's not, again, a French commissioner defending French interests. On the contrary, it's a (European Commission) college member enforcing the legislation and engaging with the Czech authorities to protect our single market,' the spokesperson added. Over the allegation, KHNP reaffirmed Tuesday that it did not violate the EU's FSR, rejecting the French side's claims that it received government subsidies. 'We have participated in the bidding process with sincerity and responsibility, and we will continue to do our utmost to ensure the successful execution of the project, based on trust with the Czech government and the contracting authority,' the company said Tuesday. KHNP has previously refuted EDF's claim, noting it received no government subsidies and that the Czech nuclear tender began in March 2022, prior to the regulation's adoption, making it exempt from the FSR's scope. Elektrarna Dukovany II, the CEZ subsidiary overseeing the reactor project, issued a statement defending the tender process and urged EDF to immediately disclose the offer it submitted if it truly believes it was more competitive than that from KHNP. EDU II also said it is ready to 'seek full compensation for damages' caused by delays and to protect shareholder value against litigation. Regarding the claims of illegal subsidies, EDU II labeled it 'speculation by the unsuccessful bidder,' adding that 'the unsuccessful bidder is not interested in winning the tender, but in ensuring that no nuclear power plant is built here in the Czech Republic at all.' The CEZ also said it will file a motion this week to have the injunction lifted by the Supreme Administrative Court and to proceed with the deal.
