Commissioner Máire Geoghegan-Quinn announced €6.4 billion of European Commission investment in research and innovation.

According to the official statement “The approved package covers a vast range of scientific disciplines, public policy areas and commercial sectors. This funding will advance scientific boundaries, increase European competitiveness and help solve societal challenges such as climate change, energy and food security, health and an ageing population.”

SMEs will receive close to €800 million. We understand that there is to be ring–fenced budgets in several areas. The example given is that, in health, knowledge–based bio-economy, environment and nanotechnologies SME participation must reach 35% of the total budget for a number of topics.

Full details are available from http://ec.europa.eu/ireland/press_office/news_of_the_day/european-research-innovation–funding_en.htm