EU Startups Commissioner Zaharieva: Navigating the AI Act and Startup Policiesh2>
When Ekaterina Zaharieva was appointed as the European Union’s first startup commissioner, it marked a significant moment for the continent’s aspiring tech entrepreneurs. The appointment signaled Brussels’ commitment to support the startup ecosystem as it faces rapid changes and challenges.p>
The Role of the Startup Commissionerh3>
A year into her role, Zaharieva has encountered complex and contentious policies, including the proposed b>28th regimeb> and the b>AI Actb>. These policies reflect the inherent tension between the fast-paced startup world and the slow-moving nature of policy-making.p>
“Sometimes, being a bit slower is actually positive because it keeps a democratic standard,” Zaharieva stated, highlighting the importance of thoughtful legislation.p>
The 28th Regimeh3>
The establishment of a b>28th regimeb> was a key win for startups when President Ursula von der Leyen announced plans to create a pan-European corporate entity system. This initiative aims to simplify regulations and facilitate cross-border investment.p>
However, recent leaks suggested that the 28th regime may be a b>directiveb> rather than a regulation, leading to concerns about varying implementations across member states. Zaharieva advocates for regulation, asserting that it would ensure equal implementation everywhere, which is crucial for startups aiming to scale.p>
Debates on Scope and Implementationh3>
The scope of the new regime is under debate, with discussions surrounding the inclusion of b>insolvency proceduresb>, b>labour lawb>, and b>taxationb>. Zaharieva emphasizes the necessity of a comprehensive approach, stating, “I definitely think it’s not enough to only touch company law.”p>
The AI Act: A Double-Edged Swordh3>
The EU’s b>AI Actb> has sparked considerable controversy, with many founders arguing it could hinder Europe’s competitiveness against the US and China. Former Italian Prime Minister Mario Draghi has called for a pause to reconsider the implications of the legislation.p>
In contrast, Zaharieva defends the AI Act, arguing it promotes a b>European spirit of AIb> that respects human values. She believes that having a unified regulatory framework is beneficial, stating, “The goal of the AI Act is to harmonize and facilitate AI startups.”p>
Funding for Growth: The €5bn Scale Up Fundh3>
To bolster startup growth, the EU has introduced a b>€5bn Scale Up fundb> aimed at investing in strategic technologies. Zaharieva asserts that while seed capital is available, scaling remains a significant challenge for startups.p>
The EU has committed b>€1bnb> to the fund, with additional investments from private sources. Zaharieva emphasizes that the fund will be market-driven, allowing for greater flexibility and innovation.p>
Future of the European Institute of Innovation and Technology (EIT)h3>
The future of the b>EITb> is also under scrutiny, particularly following a fraud investigation involving one of its sub-organizations. Zaharieva acknowledges the need for improvement while highlighting the effective elements of the EIT.p>
Access to Markets and Customersh3>
Beyond funding, Zaharieva stresses the importance of helping startups gain better access to customers. She proposes faster product certification and prioritizing innovative European companies for public procurement.p>
Conclusion: A Bright Future for European Startupsh3>
Zaharieva remains optimistic about Europe’s potential, stating, “We have everything we need.” She cites the continent’s strengths, including being the largest single market, predictable regulations, rich resources, and a well-educated population.p>
With a focus on fostering a supportive environment for startups, Zaharieva’s efforts could pave the way for a flourishing tech ecosystem in Europe, balancing innovation with responsible regulation.p>
