@EuropeanCommission
The first pillar of the Act - the Chips for Europe Initiative - will reinforce Europe's technological leadership, by facilitating the transfer of knowledge from the lab to the fab, bridging the gap between research and innovation and industrial activities and by promoting the industrialisation of innovative technologies by European businesses.
In addition to the Chips for Europe Initiative, the second pillar of the European Chips Act will incentivise public and private investments in manufacturing facilities for chipmakers and their suppliers.
The second pillar of the European Chips Act will create a framework to ensure security of supply by attracting investments and enhancing production capacities in semiconductor manufacturing.
In its third pillar, the European Chips Act will also establish a coordination mechanism between the Member States and the Commission for strengthening collaboration with and across Member States, monitoring the supply of semiconductors, estimating demand, anticipating shortages, and, if necessary, triggering the activation of a crisis stage. To address such situations, the European Chips Act establishes a dedicated toolbox of measures that can be undertaken.
Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age said:
"Chips are essential for all our digital and digitised products. And today’s agreement will help secure the supply of innovative semiconductors in Europe. It will accelerate the adoption of innovative chips by European businesses making them more competitive. So we welcome that Member States and the European Parliament have secured this agreement in a very short time."