€22 billion planned for ‘Innovation Investment Package’

Brussels, 11 July – The European Commission, Member States and industry have agreed to invest €22 billion into the ‘Innovation Investment Package’ of five Joint Technology Initiatives (JTIs), four Public-Private Partnerships (PPPs) and one Joint Undertaking in sectors that should provide future growth and jobs.

Brussels, 11 July – The European Commission, Member States and industry have agreed to invest €22 billion into the ‘Innovation Investment Package’ of five Joint Technology Initiatives (JTIs), four Public-Private Partnerships (PPPs) and one Joint Undertaking in sectors that should provide future growth and jobs.

For both the JTIs and PPPs, the EU money comes from the Horizon 2020 budget. Overall, €8 billion of the investment comes from Horizon 2020, €10 billion from industry, and close to €4 billion from EU Member States.

The JTIs will receive the majority of the money – €17 billion – in the areas of innovative medicines, aeronautics, bio-based industries, electronics and fuel cells and hydrogen. Each is expected to find solutions to major societal challenges.

The JTIs, jointly funded by the EU and industry, are:

The PPPs cover new treatments against poverty-related diseases, measurement technologies for industrial competitiveness, support for high tech SMEs, and solutions for the elderly and disabled to live safely in their homes.

The Commission Communication accompanying the legislative proposals also sets out how the Commission intends to strengthen industrial engagement in Horizon 2020 through further public-private partnerships in the areas of Green Cars, Energy Efficient Buildings, Factories of the Future, Sustainable Process Industries and Robotics and Photonics.

Final agreement of the package awaits formal passing of the Horizon 2020 legislation in the Council and European Parliament.

Click here to see the European Commission’s Press Release.

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