The government of the 27-member European bloc will spend a record amount next year funding research and innovation to spur jobs and competitiveness.
Research organizations, universities, and industry will receive a sum of €6.4 billion ($8.3 billion) next year in the European Commission's largest-ever allocation for research and innovation.
Research commissioner Máire Geoghegan-Quinn said on 19 July when presenting the plan that around 16,000 participants, including about 3,000 small and medium businesses, will receive funding. The sum represents a 12 percent increase on the €5.7 billion that will have been handed out in 2010.
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