Targeting Innovation

It is the EU's main instrument for funding research in Europe with a budget of over €50 billion between 2007 and 2013. The mechanism provides support to European organisations to develop knowledge which supports the European Union's Lisbon Strategy to become the "most dynamic competitive knowledge-based economy in the world". 

What can it do for you?

Through a number of specific programmes the EC will provide direct economic support to fund collaborative research and development activities. For SME's or non-profit organisations this means funding of typically 75% of total project costs which allows you to develop novel ideas and technologies.

What are the benefits?

• Access to European Research Network/Supply Chain
• Co-financing of R&D Activities
• Exposure and Marketing Across Europe
• Development of IPR/Novel Technologies and New Knowledge
• Typically better funding rates (~75%) than equivalent national/regional programmes
• No direct cash investment in projects (only time and resources)

What's the catch?

• European wide collaboration required to participate
• Time and resources required to prepare proposal (typically 6-10 weeks) and commitment to funded project (2 years or more)
• Funding is highly competitive and only best projects succeed
• Process is complex and can be difficult to understand initially

For more information on Cooperation and Capacities programmes and their funding under specific topic calls for proposals visit here: FP7 Calls for proposals.