Denmark has a large hearing aids industry due to lots of government funding for hearing aids, and a large wind turbine industry due to funding for wind farms. So stimulating demand can work to build or strengthen an industry, but what Denmark and EU are doing with GPUs is stimulating supply in Europe and demand in the US. I would be surprised if that does not end up strengthening US and not EU industry.
I wouldn't count the wind turbine industry in the same category as startups, energy production and infrastructure are classical government investment schemes.
