Yes, and I have a mixture of little faith and Dark thoughts as I m lacking examples of well thought out successful digital growths policies. See European search engine efforts, European cloud initiative (where nextcloud is arguably a promising product, which existed before the EU efforts and I am unsure if it is even being aided by the initive) I'm happy to learn about successful efforts if you know some.

To our friend @DarkThoughts of the kbin universe, unfortunately I cannot answer to your post, but your answer is here.

I think the big issue with workforce is getting people onto the career path. Semiconductor manufacturing has traditionally been localised to Asian countries, and even if people from the west would like to specialise with that they just don't have as many options. If Europe puts large investments into the industry and recruits out of universities I think they could definitely build up a strong workforce. Maybe not quite in the timeframe they're aiming for, but there's something to be said for ambitious aims to encourage a harder push.