merrion street

Irish researchers, businesses and educational institutions have received a total of €300million since 2007 under the EU’s €55billion FP7 fund, and are expected to draw down at least the same figure again before fund ends in 2013, according to Enterprise Minister Richard Bruton and EU Research, Innovation and Science Commissioner Maire Geoghegan-Quinn. A total of €18billion is available across the EU under the fund between 2011 and 2013.

The Minister and the Commissioner today hosted an event to highlight opportunities for Irish researchers, businesses and educational institutions under the EU programme. The event brought together representatives from Ireland’s business, research and educational community.

Minister Bruton commented:

I have consistently said that if we are to get out of this crisis and create the growth and jobs we so badly need, we must focus on three things: reducing business costs, improving access to finance and encouraging R&D and innovation. This €55billion EU fund is a fantastic resource for people and organisations involved in R&D across the continent, and I am delighted to see that we in Ireland have taken full advantage by drawing down €300million since 2007.

Commissioner Quinn added:

Upcoming FP7 calls in July 2011 and July 2012, will be worth approximately €18 billion, with some 15% earmarked for Small and Medium Enterprises (SMEs).

Read the full press release here.