EU partners with industry to invest €22bn in innovation and research
Wed 10 July 2013
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The European Commission, EU Member States and European industry will invest more than €22 billion over the next seven years in innovation for sectors that deliver high quality jobs. Most of the investment will go to five public-private partnerships (PPPs)—joint technology initiatives (JTIs)—in bio-based industries, fuel cells and hydrogen, innovative medicine, aeronautics, and electronics. The research partnerships are intended to boost the competitiveness of EU industry which already provide more than four million jobs.
Funding for the innovation package will come from three main sources and will see public institutions and private businesses investing and working together in the form of public private partnerships. A proposed €8bn investment from Horizon 2020 will secure €10bn from industry and €4bn from EU member states.
In announcing the funding programme the European Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn said: "These initiatives not only strengthen our economy, they are an investment in a better quality of life. Working together will enable us to tackle issues that no one company or country can deal with alone." She added: "The contribution from the EU budget has more than doubled and the commitment from industry has increased even more. This is a vote of confidence in investing in research and innovation in Europe.”
The five Joint Technology Initiatives' (JTIs) are:
- Innovative Medicines 2 (IMI2): to develop next generation vaccines, medicines and treatments, such as new antibiotics
- Fuel Cells and Hydrogen 2 (FCH2): to expand the use of clean and efficient technologies in transport, industry and energy
- Clean Sky 2 (CS2): to develop cleaner, quieter aircraft with significantly less CO2 emissions
- Bio-based Industries (BBI): to use renewable natural resources and innovative technologies for greener everyday products
- Electronic Components and Systems (ECSEL): to boost Europe’s electronics manufacturing capabilities
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