European Commission invests €6.4 billion in research
pharmafile | July 21, 2010 | News story | Research and Development | European Commission, research
The European Commission has announced a €6.4 billion investment in research and innovation in a range of scientific disciplines including enterprises in health.
This is its biggest funding package to date and represents a 30% increase on last year’s budget. Its primary purpose is to break through scientific boundaries and to help solve societal challenges such as health and an ageing population.
The package will also act as an economic stimulus and is expected to create more than 165.000 jobs, according to the EC.
European Commissioner Geoghegan-Quinn said: “Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life.
“We are offering researchers and innovators €6.4 billion for cutting-edge projects focusing on big economic and societal challenges: climate change, energy and food security, health and an ageing population. This is a huge and efficient economic stimulus and an investment in our future.”
There will be an opportunity to bid for funding from the EU’s Seventh Framework Programme across a wide-range of policy areas, including health. Grants will be awarded through ‘invitations to bid’ and will be evaluated over the next 14 months.
Health-based enterprises are set to receive over €600 million, with more than €1.3 billion ear-marked for the “best creative scientists” as selected by the European Research Council. Mobility grants worth €772 million will be provided through Marie Curie Actions for 7,000 highly qualified researchers.
Top priority will be given to small and medium-sized enterprises (SMEs) that represent 99% of all European businesses. In an emailed statement, the EC said: “SMEs will receive close to €800 million and for the first time, there will be ring-fenced budgets in several areas. For example, in health, knowledge-based bio-economy, environment and nanotechnologies, SME participation must reach 35 % of the total budget for a number of topics.”
The statement also said that in health research alone, around €206 million – which represents one-third of the overall budget for 2011 – will be spent on investigator-driven clinical trials to get new medicines on the market quicker.
Ben Adams
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