The European Commission invests €16 billion in funding for research and innovation in 2016-17.

"Research and innovation are the engines of Europe's progress and vital to addressing today's new pressing challenges like immigration, climate change, clean energy and healthy societies. Over the next two years, €16 billion from Horizon 2020 will support Europe's top scientific efforts, making the difference to citizens' lives." -Carlos Moedas (Commissioner for Research, Science and Innovation)

 

The European Commission will boost competitiveness by investing almost €16 billion under Horizon 2020, the EU's research and innovation funding scheme, following a new Work Programme. The new funding opportunities offered contribute to making Europe a stronger global actor.

The programme's structure is a reflection of flexibility in Horizon 2020 which focuses on the EU's long-term priorities and the most pressing societal challenges. Its also set on improving the impact of Horizon 2020 funding. It ensures more money is available for innovative companies thanks to new leveraging supported by the European Fund for Strategic Investments (EFSI), plus €740 million dedicated to support research and innovation activities in nearly 2000 small and medium enterprises (SMEs).