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This week, the European Commission announced that it will spend EUR 6.4 billion on research and innovation in 2011. The aim is a better quality of life and a way out of the economic crisis
The largest ever European Commission grant for research and innovation was announced by Commissioner Máire Geoghegan-Quinn on 19 July.
This is according to education news site Universityworldnews.com.
The 6.4 billion euro (US$8.2 billion) package will spent on research in a range of scientific disciplines.
This 2011 budget is up 12 per cent compared to 2010 and 30 per cent compared to 2009.
The commission hopes the funding will advance scientific research and help in the search for solutions to problems such as climate change, energy and food security, and population ageing.
It is also seen as a way to combat the current economic crisis.
»Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth,« says Commissioner Máire Geoghegan-Quinn.
»This European package will contribute to new and better products and services, a more competitive and greener Europe, and a better society with a higher quality of life.«
Around 16,000 participants from research organisations, universities and industry will receive a portion of the money.
Grants will be awarded through »calls for proposals« over the next 14 months.
Some of the money is earmarked for certain disciplines and areas of expertise:
Health research has been allocated more than 600 million euro, while information and communication technology research will receive EUR 1.2 billion.
More than 1.3 billion euro is reserved for the best creative scientists selected by the European Research Council.
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