On May 21, the European Commission published the Single Market Strategy to simplify and strengthen Europe’s internal market (cf. EC press release here). 

Key goals of the Single Market Strategy include: 

• Removing Barriers: The strategy prioritizes eliminating the ten most harmful market obstacles identified by businesses.
• Boosting the Services Sector: New legislation will modernize rules in construction and parcel delivery. It will put forward a Construction Services Act. It will also support services like installation and maintenance and reduce unnecessary regulations.
• Supporting SMEs: To help SMEs make the most of the Single Market's scaling opportunities, the Commission introduces a new definition of small mid-cap companies (SMCs), extending  some of the benefits afforded to SMEs to these SMCs.
• Simplifying Rules and Promoting Digitalisation: The Commission aims to make regulations more efficient and digital-first.
• Shared Market Ownership: Stronger cooperation between EU institutions and Member States will ensure effective management of the Single Market.

In addition and linked to the single market strategy, the European Commission has launched the EU Startup and Scaleup Strategy, Choose Europe to Start and Scale, to make Europe a great place to start and grow global technology-driven companies on May 28. The EC press release is available here. 

The EU Startup and Scaleup Strategy identifies key needs of startups and scaleups and is putting forward a set of actions in five main areas:

• Fostering innovation-friendly environment: The forthcoming European Innovation Act will further support innovation by promoting regulatory sandboxes.
• Driving better financing: the European Innovation Council will be expanded, and a new Scaleup Europe Fund will help bridge funding gaps for deep tech companies. A voluntary investment pact will encourage institutional investment in startups and scaleups.
• Supporting market uptake and expansion: A new initiative called Lab to Unicorn will be launched to support the commercialisation and growth of promising startups. As part of this initiative, European Startup and Scaleup Hubs will be created to strengthen connections between university ecosystems across EU Member States.
• Attracting and retaining top talent: The strategy will include measures to ensure that Europe can attract highly skilled professionals from around the world and retain its own talent within the region. 
• Facilitating access to infrastructure, networks, and services: Startups and scaleups will benefit from improved access to essential infrastructure, such as digital and physical networks, as well as tailored business support services that help them grow and compete globally.