European Commission Realises There Might Be Startups Out There To Be Funded

European Commission Vice President Neelie Kroes has decided the billions of euros stored over at the EU might well be better spent. In a speech today in Brussels she proposed a number of new ideas about how to spend EU research money under the EU's research programme, Horizon 2020. This is effectively a fund running from 2014 to 2020 with an ?80 billion budget to back the EU?s new programme for research and innovation and ultimately to drive new growth and jobs in Europe. Out of the ?80 billion available to Horizon 2020, Kroes has proposed investing ?16 billion in digital technology research. Most interestingly for startups is a proposal to ring-fence significant funds for high growth technology companies and innovative SMEs. ?The world is changing: the way we innovate needs to change too," she said.

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