Commissioner for Research, Science and Innovation Máire Geoghegan-Quinn today announced nearly €6.4 billion of investment in research and development.
The package, described as Europe’s biggest ever investment in the sector, covers a range of scientific disciplines, public policy areas and commercial sectors. It aims to advance scientific boundaries, increase European competitiveness and help solve broad challenges such as climate change and energy and food security.
Some 16,000 participants from research organisations, universities and industry, including about 3,000 small and medium enterprises will receive funding under the investment. Grants will be awarded through invitations to bid and evaluations over the next 14 months.
Commenting on the package, which aims to create more than 165,000 jobs, Ms Geoghegan-Quinn said: “Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life.
"We are offering researchers and innovators €6.4 billion for cutting-edge projects focusing on big economic and societal challenges: climate change, energy and food security, health and an ageing population. This is a huge and efficient economic stimulus and an investment in our future."
Health will receive more than €600 million, while €1.2 billion will go towards boosting Information and Communication Technology (ICT) research. More than €1.3 billion will be reserved for the best creative scientists selected by the European Research Council and SMEs will receive close to €800 million.
In health research, approximately €206 million or one-third of the overall budget for 2011, will be spent on clinical trials to get new medicines on to the market quicker. Some €600 million of ICT funding is earmarked for service infrastructures, robotic systems, electronic and photonic components, and digital content technologies.