"We filled the vacancy the next day"
Huge investment for smart growth and jobs
The European Commission has announced it will invest almost €6.4 billion (£5.4 billion) in research and innovation, helping to create more than 165,000 jobs.
Commissioner Maire Geoghegan-Quinn outlined the package, which is the biggest ever of its kind, saying it would cover a broad spectrum of scientific disciplines, public policy areas and commercial sectors.
Approximately 16,000 participants will benefit from the funding, including universities, industry professionals and around 3,000 small and medium enterprises.
Grants will be given through "calls for proposals" and evaluations over the next 14 months, with some already having been submitted.
Commissioner Geoghegan-Quinn said: "Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. 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."
Earlier this year, the Commission called for businesses to invest more in IT research and development, warning that Europe would fall behind other regions if they did not.
By Ryan Daly
Commissioner Maire Geoghegan-Quinn outlined the package, which is the biggest ever of its kind, saying it would cover a broad spectrum of scientific disciplines, public policy areas and commercial sectors.
Approximately 16,000 participants will benefit from the funding, including universities, industry professionals and around 3,000 small and medium enterprises.
Grants will be given through "calls for proposals" and evaluations over the next 14 months, with some already having been submitted.
Commissioner Geoghegan-Quinn said: "Investment in research and innovation is the only smart and lasting way out of crisis and towards sustainable and socially equitable growth. 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."
Earlier this year, the Commission called for businesses to invest more in IT research and development, warning that Europe would fall behind other regions if they did not.
By Ryan Daly