Afaik both countries have tax incentives for R&D already. What the EU needs is :
- a proper vision
- the balls to implement it, even if that means booting lobbyists off and annoying the US
We have OVH, Hetzner, Infomaniak, Proton, Nextcloud, and plenty of smaller companies, some heavily invested in open source. There's also a mechanism to fund flagship projects with billions.