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 in innovative medicines, aeronautics, bio-based industries, fuel cells and hydrogen, and electronics. The rest will be used for Joint Programmes with Member States, including €600 million for the European Metrology Research Programme for Research and Innovation (EMPIR).
Máire Geoghegan-Quinn, Commissioner for Research, Innovation and Science, said that many of the EU's competitors are investing faster and they are thinking big: "There is a need to bolster both public and private spending if we are to stay in, never mind ahead of the game."
Overall, a proposed €8 billion investment from Horizon 2020 will secure around €10 billion from the industry, and close to €4 billion from member states.
This announcement means that the European Commission has formally launched the legislative proposal to the European Parliament and the Council and the next step is for it to be formally agreed, which could happen by the beginning of 2014.
The European Association of National Metrology Institutes (EURAMET) will support the debate over the coming months working closely with its member National Measurement Institutes and other stakeholders, to ensure the best possible outcome.
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