On 26 May 2026, European Commissioner for Economy Valdis Dombrovskis called for decisive action to enable Europe's startups and scaleups to thrive, warning that nearly 30% of EU-founded unicorns have relocated abroad between 2008 and 2021. Speaking at the Lisbon Council's Scaling Europe Summit, Dombrovskis outlined three key challenges: access to finance, market access, and regulatory burden.
Dombrovskis highlighted that while the EU produces 22% of global AI research articles, US-based AI companies attract roughly 75% of global AI venture capital compared to just 6% for EU firms. He pointed to the €10 trillion in EU retail savings held as bank deposits, arguing that the Savings and Investments Union strategy aims to channel these funds into more productive investments, benefiting startups and savers alike.
On market access, Dombrovskis referenced the Commission's EU Inc. proposal, which introduces a single set of corporate rules across the EU as part of a broader '28th regime' to simplify cross-border operations. He also mentioned efforts to tackle the 'terrible ten' barriers fragmenting the Single Market.
Regarding regulation, Dombrovskis noted that ten simplification proposals already tabled should deliver around €15 billion in annual savings for EU companies. He announced an upcoming European Tech Sovereignty package with measures to reduce dependence on key technologies, data, and infrastructure.
Dombrovskis stressed that Europe cannot afford to repeat the mistakes of the digital revolution, where the US created six tech companies with a market capitalisation of €1 trillion or more while the EU has created none. He called for a business environment where great companies not only start but scale within Europe.
Stakeholder impacts
Positive impact. Improved access to finance through the Savings and Investments Union and simplified corporate rules via EU Inc. could reduce the incentive to relocate. However, the impact depends on implementation speed and effectiveness.
Positive impact. Channelling retail savings into productive investments may offer better returns than bank deposits, though it also introduces higher risk.
Moderate negative impact. Implementing the simplification agenda and the 28th regime requires coordination and adaptation of existing frameworks, potentially increasing administrative workload in the short term.
Negative impact. EU measures to retain startups and scaleups could reduce the pool of European companies relocating to the US, potentially limiting access to EU innovation and talent.