The European Commission on Thursday proposed to allocate 118 billion dollars (100 billion euros) for research and innovation in the bloc’s next long-term budget 2021-2027 as part of the large-scale Horizon Europe programme.
“For the next long-term EU budget 2021-2027, the commission is proposing 100 billion euro for research and innovation.
“A new programme – Horizon Europe – will build on the achievements and success of the previous research and innovation programme (Horizon 2020) and keep the EU at the forefront of global research and innovation.
“Horizon Europe is the most ambitious research and innovation programme ever,” the EU Commission said in a statement.
The European Commission proposed to introduce various new components of the Horizon Europe programme.
They include the European Innovation Council (EIC), the body which will identify and fund fast-moving, high-risk innovations with the strong potential to create entirely new markets and new research and innovation missions working on societal challenges and industrial competitiveness.
The commission also plans to double the support for maximising the innovation potential across the bloc.
The Horizon Europe programme will provide access for innovators to publications and academic data.
Moreover, the programme will ensure that effective and operational links are established with other EU programmes in various areas, including the defence industry, energy, and infrastructure.
The EU Commission, Vice-President, Jyrki Katainen, responsible for jobs, growth, investment and competitiveness, noted that Horizon Europe was aimed at making difference in the lives of citizens and society as a whole.
Horizon 2020 is a financial instrument aimed at securing Europe’s global competitiveness.
The programme allocates nearly 80 billion euros for 2014 and 2020, as well as attracts private investment.
