Allowing the Netherlands and other countries to invest money in the “cloud”

The Netherlands and other EU countries may invest €1.2 billion in developing cloud services. The European Commission is allowing normally prohibited government aid to launch this pioneering innovation.

The cloud project is an “Important Project of Common European Interest” (IPCEI) and can therefore count on a more flexible treatment. Often, companies do not dare to undertake such uncertain ventures or cannot raise the necessary funds for them. Therefore, the European Union fears that it will lose the battle and be outdone, for example, by the United States and China.

The committee expects that government aid of 1.2 billion euros will persuade private investors to contribute another 1.4 billion euros. Cloud company Leaseweb Global is participating from the Netherlands, as are TNO, Amsterdam Internet Exchange, UvA and the University of Twente. Companies and institutions from Germany, France, Italy, Spain, Poland and Hungary are also participating.

The committee has previously approved similar projects for batteries, for example, which are important for the transition to electric and hydrogen transportation.