The Future and Emerging Technologies (FET)  Flagships were developed over a two-and-a-half year preparatory phase. They will have a transformational impact on science, technology and society overall. They foster coordinated efforts between the EU and its Member States' national and regional programmes. Highly ambitious, they rely on cooperation among a range of disciplines, communities and programmes, requiring sustained support up to 10 years.
The European Commission published in September 2014 the FET Flagship Staff Working document , announcing the implementation model  for the Flagships in H2020. Read the overview  and presentation. 
Graphene  investigates and exploits the unique properties of a revolutionary carbon-based material. It possesses an extraordinary combination of physical and technical properties: it is the thinnest material, it conducts electricity, it is stronger than steele and entails unique optical properties.
To better understand Graphene, check out the following:
Understanding the human brain is one of the greatest challenges facing 21st century science. Using a unique simulation-based approach, the Human Brain Project  aims to provide researchers worldwide with a tool to understand how the human brain really works. If we rise to the challenge, this initiative will revolutionise the future of neuroscience, medicine, and computing.
To better understand HPB, several resources are available:
The ERA-NET, called FLAG-ERA,  gathers ministries and most funding organisations in Europe, participating either directly or as associated members, with the goal of supporting the FET Flagship initiatives ‘Graphene’ and ‘The Human Brain Project’ and more generally the FET Flagship concept.
FLAG-ERA  offers a platform to coordinate a wide range of sources of funding towards the realization of the very ambitious research goals of the two Flagship initiatives. The funding organisation will coordinate their funding framework conditions, adapt their thematic programs and elaborate new joint support mechanisms according to the identified needs. In particular, they can launch transnational calls enabling researchers from different countries to propose joint contributions to the Flagships.
FLAG-ERA  also offers support to the four non-selected "runner-ups" Flagship pilots to progress towards their goals with adapted means.
A call was published in July 2010, and six pilot projects were chosen for the so-called preparatory actions. At the end of 2012, 25 world-renowned experts evaluated the pilots' work and two winning projects were announced  by Vice-President Neelie Kroes on 28th January 2013.