EU invests EUR6.4 billion in research 2011

21.07.10 Brussels - The European Union will boost research projects in science and industry with €6.4 billion in 2011, the largest ever allocation for research and innovation. 35 percent of the total budget is to be ear-marked for specific topics including health, biotech, nanotechnology and the environment. Small and medium businesses will profit more than others, Research Commissioner Máire Geoghegan-Quinn said on 19 July when presenting the plan. They will receive close to €800 million next year. In total,the 2011 round of the 7th Framework Programme will distribute money to roughly 16,000 participants. European Researchers would be another group that would benefit significantly from this new investment as 1.3 Bn Euros have been allocated for the best creative scientists in the Union. "The investment I am announcing today will create 165,000 jobs over the relatively short term and potentially many many more over the long term," the commissioner told reporters. The sum represents a 12 percent increase on the €5.7 billion that will have been handed out in 2010. In total, businesses should also receive at least 15 percent of the total funding. The current rate is around 14 percent, the commission said. In particular, the commission wants researchers to focus on solutions for climate change, energy and food security, health challenges and an ageing population. Health research will receive over €600 million while information and communication technology research has been allocated €1.2 billion.