The first phase of a €600 million public-private partnership on the Internet of the Future (FI-PPP) was launched today by European Commission Vice-President Neelie Kroes. The partnership will support innovation in Europe and help businesses and governments to develop internet solutions that will be capable of managing the exponential increase in online data. Whilst so far we have experienced the Internet of connected computers, and connected people, the Internet is now going mobile and it will connect a whole range of machines and objects. The current Internet is simply not capable of managing these future data streams, nor is it able to provide the desired accuracy, resilience and safety. The partnership will explore eight areas where this data revolution could spur innovation and jobs in the mobile, software and service industries. The European Commission has made available € 300 million in funding over 5 years, with Europe's research organisations, public sector and industry committing an equal amount to this PPP. Projects launched today will together receive €90 million in EU funding (to be matched by other project partners). Boosting and focussing the EU's research, development and innovation efforts is a key element of the Digital Agenda for Europe.