The European Commission will provide €1.2 billion ($1.29bn) in state funding for cloud computing and Edge development.
The IPCEI Next Generation Cloud Infrastructure and Services (IPCEI CIS) was jointly notified by seven Member States: France, Germany, Hungary, Italy, the Netherlands, Poland, and Spain.
Member states will provide the funds, which is expected to lead to an additional €1.4bn ($1.5bn) in private investments.
The IPCEI CIS includes 19 projects from 19 companies, and 90 indirect partners, all aimed at building a healthier European cloud community outside of the US-dominated hyperscaler ecosystem.
The companies are: Deutsche Telkom, Telefónica Espana, Atos, Orange, SAP, Reply, TIM, Oktawave, Antende Industries, OpenNebula Systems, Arsys Internet, Leaseweb Global, 4iG, E-Group ICT Software, Tiscali Italia, CloudFerro, Siemens, Finacantieri, and Engineering Ingegneria Infromatica.
"The IPCEI approved today is crucial to deliver breakthrough innovation on Cloud and Edge technologies that fulfill European requirements for interoperability, data privacy, sustainability and cybersecurity," Commissioner Thierry Breton said.
"It will also provide the technologies and solutions to reach our Digital Decade Strategy 2030 objectives: a 75 percent of cloud uptake by EU enterprises and more than 10,000 Edge nodes across Europe. With this IPCEI, Europe will reinforce its innovation leadership in next-generation data processing services."
The first results of the project are expected around 2027. The EU claims that at least 1,000 jobs are set to be created during the research and development phase of the project.
Earlier this month, the European Commission signed a six-year agreement with US-based Oracle to use its cloud service.
