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20 July 2010

EC announces €6.4 billion funding for Research and Development projects.

Innovative South West companies received a boost by the announcement by The European Commission of its largest investment in R&D funding to date. On Tuesday a number of  funding calls, worth  6.4 billion (£5.4 billion), were launched under the commission's Seventh Framework Programme (FP7).

Major research areas earmarked for funding in the new FP7 round include  1.2 billion for  ICT, €600 million for health,  270 million for nanotechnologies and  205 million for environment. In the new funding calls top priority is given to Small and Medium-sized Enterprises (SME), who will receive close to €800 million and for the first time, there will be ring-fenced budgets in several areas.

Commissioner Máire Geoghegan-Quinn said: "Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life. We are offering researchers and innovators €6.4 billion for cutting-edge projects focusing on big economic and societal challenges: climate change, energy and food security, health and an ageing population. This is a huge and efficient economic stimulus and an investment in our future."

The Enterprise Europe Network can assist by helping companies to identify opportunities, join consortiums and reach agreements with the Commission. A full list of the calls and their contents can be found by clicking here and details of how the EEN can assist here. Our FP7 factsheet can be downloaded here.

Anyone interested in FP7, or any European R&D funding opportunities, can email Kenny Legg or call him on 01275 370808

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