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EU and industry to invest GBP 19 billion in research and innovation
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The European Commission, EU Member States and European industry will invest more than GBP 19 billion (Euro 22 billion) over the next seven years in innovation for sectors that deliver high quality jobs. Most of the investment will go to five public-private partnerships in innovative medicines, aeronautics, bio-based industries, fuel cells and hydrogen, and electronics. These research partnerships address major challenges, such as reducing carbon emissions or providing the next generation of antibiotics.

    EU and industry to invest GBP 19 billion in research and innovation

    José Manuel Barroso, President of the European Commission, said: "The EU must remain a leader in strategic global technology sectors that provide high quality jobs. This innovation investment package combines public and private funding to do just that. This is a perfect demonstration of why the EU budget is a budget for growth."

    Overall, a proposed GBP 7 billion (Euro 8 billion) investment from the next EU research and innovation programme, Horizon 2020, will secure around GBP 8.6 billion (Euro 10 billion) from industry, and close to GBP 3 billion (Euro 4 billion) from EU Member States.

    European Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn said: "These initiatives not only strengthen our economy, they are an investment in a better quality of life. Working together will enable us to tackle issues that no one company or country can deal with alone."

    The five Public-Private Partnerships, called 'Joint Technology Initiatives' (JTIs), are:

    • Innovative Medicines 2 (IMI2): to develop next generation vaccines, medicines and treatments, such as new antibiotics
    • Fuel Cells and Hydrogen 2 (FCH2): to expand the use of clean and efficient technologies in transport, industry and energy
    • Clean Sky 2 (CS2): to develop cleaner, quieter aircraft with significantly less CO2 emissions
    • Bio-based Industries (BBI): to use renewable natural resources and innovative technologies for greener everyday products
    • Electronic Components and Systems (ECSEL): to boost Europe’s electronics manufacturing capabilities

    Background

    MEMO/13/673

    The JTIs are open to a wide range of industries across Europe, including SMEs, and all types of research organisations can apply for funding. The Innovative Medicines Initiative, Clean Sky and Fuel Cells and Hydrogen JTIs all currently exist, while the Electronics JTI will combine two current partnerships. The Bio-based Industries JTI is a new initiative. New legislative proposals are needed now to establish the initiatives under the next EU research and innovation programme, Horizon 2020, which is subject to approval by the European Parliament and Council.

    The package also includes four public-public partnerships between the European Commission and EU Member States: new treatments against poverty-related diseases, measurement technologies for industrial competitiveness, support for high tech SMEs, and solutions for the elderly and disabled to live safely in their homes. 
     

    For more information, please contact the London press office on 020 7973 1971.
    Please note: all amounts expressed in sterling are for information purposes only.

    Last update: 10/07/2013  |Top