EC announces 7 billion Euro boost for 2012 R&D
A 7 billion Euro boost for research and innovation for 2012 has been announced by the European Commission (EC) last month. The funding package – which will be the ECs largest yet – is anticipated to promote both growth and new jobs.
“Today, Europe is again showing its commitment to putting research and innovation at the top of the political agenda for growth and jobs,” said Commissioner Máire Geoghegan-Quinn, who announced the new funding boost. “EU-wide competition for these funds will bring Europe’s best researchers and innovators together to tackle the biggest issues of our time, such as energy, food security, climate change and our ageing population.”
The main focus of the funding will be the integration of research and innovation with the market – with the aim of tackling societal challenges, whilst creating new sustainable jobs and giving Europe a lead in the technology markets of the future.
The policy, which falls under the Seventh Framework Programme for Research (FP7), is expected to create around 174,000 jobs in the short term, with a 15 year projection of 450,000 new jobs and a growth in GDP of nearly €80 billion.
For more information, and a breakdown of the intended distribution of the funding package, please visit the European Commission website.
