Horizon 2020 commenced in January 2014 as the new Framework Programme to implement the Innovation Union with research and innovation funds of €80 billion from 2014 – 2020.

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Horizon 2020 addresses all research and innovation funding that was previously provided through the Framework Programmes for Research and Technical Development (e.g. FP7), Competitiveness and Innovation Programme (CIP) and European Institute of Innovation and Technology.

Support proposed for Research and Innovation under Horizon 2020 includes:

– Strengthening research in Science (budget of €24.5 billion)

– Strengthening Industrial leadership in Innovation (budget of €22.6 billion), including investment in key technologies, access to capital and support for SMEs

– Address Societal challenges (budget of €31 billion) such as climate change, sustainable transport and mobility, affordable renewal energy, food security, ageing population