Business News

EU Ministers make a decisive good step on research financing

29th September 2020

A well-designed Horizon Europe has the potential to boost private investments in research and innovation at a critical time

EU research ministers adopted the European Council’s position on Horizon Europe, the next EU flagship programme for research and innovation.

Horizon Europe is a planned 7-year European Union scientific research initiative meant to succeed the current Horizon 2020 program. Next to emergency financial support for millions of firms across Europe, programmes, like Horizon Europe, are key to prepare Europe’s future growth and prosperity.

Markus J. Beyrer, Director General at Business Europe said "Today’s adoption in Council is a decisive step forward for the programme to timely start in January 2021. We need sufficient financial means for the collaborative, mission-oriented and technology-intensive projects.”

A well-designed Horizon Europe has the potential to boost private investments in research and innovation at a time when companies must make difficult choices in response to the unprecedented economic times. Hence, the increase of the overall budget of Horizon Europe is very important.

Beyrer continued by stating that the need to stimulate and leverage investments of European firms is critical now more than ever. He said that 60% of Horizon Europe’s envelope should be dedicated to global challenges and industrial competitiveness in areas which fall under “Pillar 2”. These include health, inclusive and secure society, digital and industry, climate, energy and mobility, food and natural resources.

“We also need to promote international cooperation by ensuring fair access to third countries that have a strong track record on science and innovation, respect of intellectual property rights and that reciprocally ensure access to funding to EU’s undertakings. In these very challenging times, this is the signal European firms need to stimulate and leverage investments." said Business Europe’s General Director.


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EU ministers make a decisive good step on research financing