The New College of Commissioners: A Win for Startups!
With summer officially behind us, Brussels is embracing the season of big announcements - and startups have every reason to celebrate! Following Draghi’s report on Europe’s competitiveness (check out our take on it here), we received even more exciting news with the unveiling of the new College of Commissioners. On 17 September, European Commission President Ursula von der Leyen revealed her new team for the next five years, and for startups, the new College could not be more exciting!?
First-Ever Startup Commissioner
President von der Leyen announced that Ekaterina Zaharieva will be appointed Commissioner for Startups, Innovation and Research. This is fantastic news for the startup scene and signals the recognition by the European Commission of startups’ unique characteristics and contributions to boosting innovation, job creation, economic recovery and growth, and enhancing European competitiveness! Allied for Startups and its members have called for a Commissioner for Startups during our 2024 EU Elections campaign (see our EU Elections Manifesto here). We strongly believe the Startup Commissioner can play an instrumental role in developing and fostering a flourishing policy ecosystem that enables startups to innovate and scale in Europe without undue barriers. This is a great step towards a thriving European startup ecosystem!?
Unlocking Capital for Startups
In addition to having the first-ever Commissioner for Startups, there is more for startups to be excited about - making the Capital Markets Union a reality! President von der Leyen stated that this will be the mission of the new Commissioner for Financial Services and the Savings and Investments Union, Maria Luís Albuquerque. This is more great news for startups, as it means easier access to capital and smoother investment opportunities across the EU - something Allied for Startups and its members have long championed. Could this be the dawn of even more European unicorns? Let’s hope so!?
A little Less Red Tape, A Little More Innovation
Commissioner Valdis Dombrovskis, who is taking the reins on Economy and Productivity, has been tasked with the implementation and simplification of European laws and policies. After the tsunami of tech legislation in the previous mandate, it is now time to focus on implementation and making things simpler so that startups can dedicate their resources to innovation, rather than drowning in red tape. Fewer regulatory headaches mean more time to build the next big thing! This marks more good news for innovation in Europe and addresses yet another of the startup ecosystems’ EU Elections priorities.?
Building Tomorrow’s Workforce
And last but not least, the introduction of a dedicated Commissioner for People, Skills and Preparedness is music to the European startup ecosystem’s ears! Commissioner Roxana M?nzatu will be leading efforts to future-proof the EU’s workforce, ensuring startups can access the digital talent they need to further the innovations of tomorrow. Another win for the startup ecosystem as this too was one of our joint EU Elections priorities!?
What’s next?
Each Commissioner-designate will be questioned by Members of the European Parliament during official hearings, which should start in October or November. During these hearings, the Commissioners-designate will explain their vision and plans for the upcoming mandate. The entire College of Commissioners will then be put to a vote, and if approved by a majority in the EP, they will eventually have to be formally appointed by the European Council. All in all, the new College of Commissioners is set to be a major boost for startups across the EU, delivering on several key priorities that AFS and the startup community has been advocating for.
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