The European Commission has today presented a package of measures to boost research, innovation and competitiveness in Europe. Commissioner Máire Geoghegan-Quinn has announced Horizon 2020, an €80 billion programme for investment in research and innovation. Commissioner Androulla Vassiliou has put forward a Strategic Innovation Agenda for the European Institute of Innovation and Technology (EIT), which will receive €2.8 billion of funding under Horizon 2020. In parallel, Vice-President Antonio Tajani has announced a complementary new programme to boost competitiveness and innovation in SMEs, with an additional budget of €2.5 billion. The funding programmes run from 2014 to 2020.