Cybersecurity firms could soon see the benefits of a new round of investment from the European Union.The European commission said the Digital Europe Programme (DIGITAL) work program adopted Friday would include a €1.3 billion earmark (about $1.4 billion USD) for programs based around artificial intelligence (AI), cybersecurity and digital skills.The plan calls for a series of investments between 2025 and 2027 to fund projects around, amongst other things, cyber resilience and critical infrastructure security, including healthcare providers and undersea cable installations.Additionally, the earmarked funds could go to the funding of AI projects around cybersecurity and educational programs that would teach data security, amongst other skills.The investment is part of DIGITAL’s overall program that calls for €8.1 billion in funding for technology products over a four-year period spanning 2023-2027.“Cybersecurity solutions such as the EU Cybersecurity Reserve will improve the resilience and security of critical infrastructures including hospitals and submarine cables,” said the commission said in announcing the initiative.In order to qualify for the funding, companies will need to have a base in an EU member state, something that could put companies from the U.S. and UK in a bit of a predicament given their nations’ recent frosty relations with the continent.The UK continues to work through the economic and regulatory implications of its Brexit withdrawal from the EU.Meanwhile, the U.S. has seen itself at odds with the European Union over decisions by the Trump administration to impose tariffs on foreign goods in an effort to bolster domestic production and the ongoing conflict in Ukraine and its funding from NATO member states.With the program’s announcement, it appears that the EU is looking to go its own way in developing technologies in the key areas of education, AI, and cybersecurity. In earmarking the funds for member states, the commission is making an appeal to multinational giants that might otherwise not be inclined to invest cash into their European subsidiaries or child companies.In announcing the initiative, European Union officials noted the need for their member states to innovate their own technologies separate from those in the U.S. and Asia, traditionally the hubs for technology innovation.“Securing European tech sovereignty starts with investing in advanced technologies and in making it possible for people to improve their digital competences,” said Henna Virkkunen, executive VP for tech sovereignty, security and democracy.“With the opportunities under the Digital Europe Programme, we are ensuring that new technologies — and with them new potential — reach European citizens, businesses and public administrations.”
