Minister announces €336.7 million for Research and Innovation

The coffers of Irish Research and Innovation were greatly boosted this week following the announcement by Minister John Halligan that Ireland has secured a total of €336.7 million from the EU, equivalent to an average of €2.4 million every week.

This figure is an increase of €85 million, from the previous result of €251 million up to November 2015. Higher Education Institutes accounted for €198 million, Companies won €104 million, with €74 million of this going to SMEs.

Horizon 2020 is the EU framework programme for research and innovation. With a budget of €74.5 billion, Horizon 2020 runs over seven years from 2014 to 2020. The Government has set a national target of winning €1.25 billon from the programme.

Welcoming these results, Minister Halligan said that the programme, Horizon 2020 was an important source of funding for research and innovation in Ireland.

“It provides a mechanism for researchers and companies in Ireland to network and collaborate with the best researchers and leading companies across Europe. These benefits are particularly important for a small, island nation. SMEs are a key target for Horizon 2020 and I am particularly pleased that Irish SMEs have secured €74 million in funding.”

Minister Halligan added: “The Government has set an ambitious target to secure €1.25 billion in funding from Horizon 2020 over the period 2014-2020 and these latest results show that Ireland is on track to achieve this target”.

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