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EU backed venture wins Nobel Prize for Physics

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European Commission Vice President Antonio Tajani has congratulated Professor Andre Geim and Dr Konstantin Novoselov for their exceptional achievement in winning the Nobel Prize in Physics for their research on the highly conductive element Graphene. Both scientists are part of a UK venture-backed team which is partly financed by the European Commission Competitiveness and Innovation Framework Programme (CIP). He emphasized that "the EU is delighted to support such innovative researchers and to help them creating economic value from the practical application of outstanding science". He continued: "to turn a great idea into a great success requires both, talent and capital. It is most difficult for innovative firms during their initial phase to access finance for assessing and developing an initial concept, which is why the EU focuses on promoting early-stage investments."

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