The current EU framework programme for research and innovation is Horizon 2020. It has a budget of close to €80bn. and runs over the period 2014-2020.
Horizon 2020 provides Ireland with valuable mechanisms for firms to further their innovativeness in products, services and processes. Irish companies who compete successfully for funding from this large research funding resource will boost their innovative capability and competitiveness which in turn this will deliver strong national economic impacts, including jobs.
The most recent data release from the European Commission shows that in the first 9 months of Horizon 2020, Ireland achieved success of €97 million. €19.1 million of this success was achieved by industry.
Ireland’s 2014 target for success in Horizon 2020 is €100 million (Action Plan for Jobs). Based on the results for the first 9 months, I am confident that we will surpass this target.