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The ECSEL 'joint undertaking' finances research into technology like semiconductors (Photo: tec_estromberg)

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'Fact of life': some EU funding in new tech will get lost

The loss of €230,000 of EU taxpayer money following the bankruptcy of its recipients is unfortunate, but unavoidable, said Bert De Colvenaer, a high-up EU civil servant who heads an EU public-private partnership for electronic components and systems.

"I don't like cowboys and we are not charity - but if we don't take any risk, there will be nothing to gain," De Colvenaer told EUobserver in an interview.

De Colvenaer is the executive director of the joint undertaking - EU jargon fo...

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The ECSEL 'joint undertaking' finances research into technology like semiconductors (Photo: tec_estromberg)

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