EU to begin funding for €80bn research project

The European Commission Wednesday for the first time presented calls for projects under Horizon 2020, the European Union's 80 billion euro (USD 110 bn) research and innovation programme. Worth more than 15 billion euro (USD 20.6 bn) over the first two years, the funding is intended to help boost Europe's knowledge-driven economy, and tackle issues that will make a difference in people's lives, European Commissioner for Research, Innovation and Science Maire Geoghegan-Quinn told a press conference. This includes 12 areas that will be a focus for action in 2014/2015, including topics such as healthcare, digital security and smart cities. "Horizon 2020 funding is vital for the future of research and innovation in Europe, and will contribute to growth, jobs and a better quality of life," she stressed. Horizon 2020 is the EU's biggest ever research and innovation programme with a seven year budget worth 80 billion euro.