EU launches new innovation project to boost competitiveness

BRUSSELS. July 11. KAZINFORM The European Commission launched a 22-billion-euro innovation project on Wednesday to boost competitiveness of EU industry in strategic technology sectors. The new project, named Joint Technology Initiatives, will focus on medicines, aeronautics, bio-based industries, fuel cells and hydrogen, and electronics.

Jose Manuel Barroso, president of the European Commission, said: "The EU must remain a leader in strategic global technology sectors that provide high quality jobs. This innovation investment package combines public and private funding to do just that. This is a perfect demonstration of the leverage effect of the EU budget for growth and jobs."

Maire Geoghegan-Quinn, the European Commissioner for Research, Innovation and Science, said: "The initiatives we are presenting today not only strengthen our economy, they are an investment in a better quality of life. These partnerships will deliver good jobs, and major benefits to society, such as cleaner, greener aircraft; alternatives to fossil fuels; and new treatments to combat the growing threat of antimicrobial resistance."

The Commissioner said: "Without new ideas, Europe is not going to get out of this crisis quickly. Without new ideas, our businesses lose their competitive edge, and investors will look elsewhere."

The new project will get eight billion euros investment from the next EU research and innovation programme, Horizon 2020, and around 10 billion euros from industry, near four billion euros from EU Member States.

The project is open to a wide range of industries across Europe. All types of research organizations can apply for funding.

Source: XINHUA

Currently reading