In the context of this week's "Future Internet week" event in Budapest, the European Commission is currently reviewing the progress of some 140 "Future Internet" research projects which it supports. The Internet connects over 1.5 billion people today and billions of objects are expected to get connected tomorrow. EU-funded research aims to make the Internet of the future a dynamic place for innovation, growth and jobs. Building on this existing EU-funded research, a €600 million "Future Internet" Public-Private Partnership was launched on 3rd May 2011 to develop new ways of building better services and improving business innovation for the Future Internet. Boosting the EU's research, development and innovation efforts is a key element of the Digital Agenda for Europe.