The European Commission has presented an €80 billion package for research and innovation funding, as part of the drive to create sustainable growth and new jobs in Europe. The new programme, "Horizon 2020" will make it easier for applicants to seek funding and is designed to help bring more good ideas to market. Horizon 2020 will run from 2014 to 2020.

Horizon 2020 brings together all EU research and innovation funding
Horizon 2020 will bring together all existing EU research and innovation funding currently provided through the Framework Programme for Research and Technological Development (FP), the Competitiveness and Innovation Framework Programme (CIP) and the European Institute of Innovation and Technology (EIT). The different types of funding provided by the existing programmes will be brought together into a single coherent, flexible framework which will run from 2014 to 2020. It will provide funding for every stage of the innovation process from basic research to market uptake, in line with the EU's commitments under the "Innovation Union".

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