EU Shortlists Swedish, UK Firms to Manage €5 Billion Tech Fund

The European Union has shortlisted Swedish and UK-based firms to manage a €5 billion fund aimed at accelerating breakthrough technologies, including quantum computing and advanced semiconductors. Final candidates include Sweden’s Hexagon AB and the UK’s Cambridge Quantum (now part of Quantinuum), both leaders in deep-tech innovation and quantum infrastructure development. The fund, part of the EU’s 2027–2033 tech sovereignty push, will prioritize quantum resilience, AI integration, and next-gen chip manufacturing to reduce reliance on non-EU suppliers. Selection criteria emphasize firms with cross-border R&D capabilities, existing EU partnerships, and proven track records in commercializing quantum and semiconductor advancements. A decision is expected by Q4 2026, with the chosen manager overseeing disbursements to startups, research hubs, and industrial consortia across the bloc.