EU research funding aids scientific excellence, competitiveness - report

Investment in research and innovation from the European Union budget between 2007 and 2013 has greatly improved scientific excellence in Europe and strengthened its competitiveness by improving industry's capacity to innovate, according to findings of evaluation of EU's 7th Framework Program (FP7) published today by the European Commission.

Carlos Moedas, Commissioner for Research, Science and Innovation, said: "Independent experts have confirmed that our research and innovation investments are supporting world class science and improving our citizen's welfare. We are now using the lessons learned to further improve Horizon 2020, the new EU research and innovation funding programme, and make it simpler, more effective and more focused on finding innovative solutions to benefit our society and economy."

The ex-post evaluation of the 7th Framework Program shows that the 55 billion euros ($59.5 billion) invested over seven years into EU's research and innovation proved highly attractive to private sector participants, including a record number of SMEs, which helped strengthen competitiveness of European industries. The program also set up five Joint Technology Initiatives in key areas like innovative medicine and hydrogen and fuel cells.