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European Commission


Brussels, 15 April 2014

Commissioner Geoghegan-Quinn welcomes EP adoption of €22 billion Innovation Investment Package

European Commissioner for Research, Innovation and Science Máire Geoghegan-Quinn has welcomed today's adoption by the European Parliament of a package of public-private and public-public research partnerships worth up to €22 billion. The Innovation Investment Package (IIP) and the Single European Sky Air Traffic Management Research (SESAR) joint undertaking now go to Council for final approval. Most of the investment will go to six public-private partnerships in innovative medicines, aeronautics, bio-based industries, fuel cells and hydrogen, electronics and rail transport.

Commissioner Geoghegan-Quinn said: "This is a 22 billion euro investment in our economy and in a better quality of life. We will work with industry and a wide range of researchers to tackle problems no one country or company can face alone. I pay tribute to the European Parliament and in particular all the Rapporteurs involved, who have worked quickly to get us to this point. I look forward to final approval of the package by the Member States, with a view to launching these partnerships in July."

Over the next seven years, the EU's contribution of €9 billion to the package will unlock an equivalent investment from the private sector and €4 billion from Member States. The EU funding will come from Horizon 2020, the European Union's new €80 billion research and innovation programme.

See also MEMO/14/289

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