The European Commission has granted autonomy to the ENIAC Joint Undertaking, a body created by the EU's Council of Ministers to bring together European research in nanoelectronics. This is a major step forward because it marks the real beginning of a balanced and innovative public-private partnership in which industry, Member States and the Commission aim for industrial excellence and a significant impact on the economy. The European Nanoelectronics Initiative Advisory Council (ENIAC) will implement a budget for research of up to €3 billion over ten years, giving it critical mass on a global scale. ENIAC will foster research and development collaboration between stakeholders such as industry, public authorities, academia and research centres inter alia by effective coordination of resources and funding from EU, industry, national and intergovernmental R&D programmes. Nanoelectronic parts are very widely used, often almost unnoticed, to improve the performance, energy efficiency and functionalities of many kinds of machines ranging from cars, planes and phones, to factories, washing machines and televisions.