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Minister for European Affairs, Lucinda Creighton T.D., has welcomed the publication by the European Commission of Horizon 2020, an €80 billion package of investment in research and innovation to boost growth and jobs. The funding programme will run from 2014 to 2020. Realising Horizon 2020will be a key issue for the Irish EU Presidency in the first half of 2013 will.

Presented by Commissioner Máire Geoghegan Quinn in Brussels today, Horizon 2020 will focus on supporting the EU’s position as a world leader in science, dramatically advancing industrial innovation, investing in key technologies and ensuring greater access to capital support for SMEs.

Minister Creighton said: "For the EU, and Ireland as a member, to compete globally we must establish the best conditions for business and entrepreneurs, ensuring that firms can innovate, restructure and reform themselves quickly. In other words create the conditions for businesses that are adaptable and nimble. This package compliments our own ambition to become a world-leader in innovation."

Horizon 2020 will continue to allocate funding on the basis of competitive calls for proposals and through independent and merit-based peer review, selecting only the best projects. For the first time all EU research and innovation funding will be brought together under a single programme, cutting red tape and simplifying rules and procedures to attract more top researchers and a broader range of innovative businesses.