€7 billion boost for research and innovation will create jobs and growth

The new 2012 programme for research and innovation-currently FP7-has been launched today.

The European Commission’s biggest ever such funding package for research and innovation is expected to create around 174 000 jobs in the short-term and nearly 450 000 jobs and nearly €80 billion in GDP growth over 15 years.

Grants will promote research to tackle the societal challenges facing Europe and the world. Universities, research organisations and industry will be among more than 16.000 funding recipients. Special attention will be given to SMEs, including a package close to €1 billion. There will also be a new EU Prize for Women Innovators whose work has been funded by FP7 or earlier programmes. The majority of the “calls for proposals” (invitations to bid for funds) will be published on 20 July.

“Today, Europe is again showing its commitment to putting research and innovation at the top of the political agenda for growth and jobs. 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.” said Commissioner for Research, Innovation and Science, Geoghegan-Quinn.

Find out more, including the allocation of funds per area, on: http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/521&format=HTML&aged=0&language=EN&guiLanguage=en

Follow the main page of FP7 on: http://ec.europa.eu/research/fp7/index_en.cfm

See the full press release, with details including every programme area on: http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/900&format=PDF&aged=0&language=EN&guiLanguage=en