The Research Executive Agency (REA) is a funding body created by the European Commission to maximise the efficiency and impact of EU research and innovation programmes.
Therefore, the Agency makes a practical contribution to achieving the goals of the Innovation Union, a flagship EU initiative which is a part of Europe 2020, the EU's global strategy for growth. This includes help in delivering the European Research Area (ERA).
Fully operational since mid-2009, the Agency was set up in 2008 in Brussels to manage large parts of the Seventh Framework Programme for Research, Technological Development and Demonstration Activities (FP7), which runs until the end of 2013.
As from 2014, the Agency manages a large share of Horizon 2020, the biggest EU Research and Innovation programme ever, with €79 billion of funding available until 2020.