On 17 October 2023, the European Parliament (EP) adopted its position on the establishment of a ‘Strategic Technologies for Europe Platform (STEP)’ designed to boost critical strategic technologies through financial support, the ‘Sovereignty Seal‘ and ‘Sovereignty Portal‘.
STEP aims to boost digital, net-zero and biotechnologies and enable the EU’s industry to achieve the digital and net-zero transitions. It aims to strengthen various EU programmes and funds and to channel up to €160 billion into new investments, alongside cohesion policy incentives and the Recovery and Resilience Facility (RRF). The platform will foster the growth of crucial technological value chains in the digital economy, net-zero industries, and biotechnologies, as well as addressing labour and skill shortages, and supporting innovation. In their amendments, MEPs advocate for an extra €3 billion on top of the Commission’s proposed €10 billion, bringing the STEP budget up to €13 billion in new funds.