Newsletter May 2024
At the R&I Week 2024: Past, Present and Future of the EU Framework Programmes for Research and Innovation
More than 1 600 European R&I stakeholders, including policymakers, researchers and innovators, celebrated the 40th anniversary of the EU R&I framework programmes. The First Framework Programme (FP1), launched in 1984, coordinated community-level research initiatives with a budget of €3.75 billion for four years. Over the years, the framework programmes have evolved to encompass the entire innovation cycle.
Fast forward to today and taking one example of this evolution, the European Innovation Council (EIC) Summit, a pivotal part of the R&I Week, highlighted the significant role of public funding in driving innovation. According to the recently published EIC Impact Report 2023, the total value of the portfolio of EIC-supported companies is almost €70 billion, an increase of €20 billion in the last 2 years. The EIC has a Fund which is its investment arm with a budget of 10 billion EUR to support start-ups through patient capital. Its return on investment for 2023 was at €3.5 of additional investment for each Euro invested by the Fund.
The shaping of the next Framework Programme (FP10) was high on everyone’s agenda. Many of the invited speakers advocated for an increase in budget and the continuation of the existing instruments, with a renewed commitment to diversity. Others argued that FP10 should be based on simplification and synergies. Irrespective of its structure, the consensus was for a FP10 that supports a greener, fairer and more competitive Europe, with the benefits for citizens at its core.
So that you too can share your views on FP10, Euresearch will inform you about opportunities to give input as they become available.
Authors: Romain Muller and Rita de Brito, National Contact Points for EIC
Illustration: Alexandra Rosakis
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