€7billion funding for UK technology

With a total budget €53.2billion of The EU Seventh Framework Programme for Research and Technological Development (FP7) is a programme that emerged from ad hoc programmes in policy areas such as energy and industry. The first five FPs were designed by the European Commission, while FP6 was developed to support the creation of the 'European Research Area'. Each consecutive FP has seen an increase in the total budget, with FP7 starting in 2007 and due to run until 2013. During the first years of FP7, the UK has been awarded the highest number of contracts within Europe and received a total of €1.35bn. Additional FP7 instruments include European Technology Platforms – industry led networks in areas such as biofuels; Joint Technology Initiatives, designed to implement strategic research agendas such as fuel cells and hydrogen, aeronautics and nanoelectronics; and The Risk Sharing Finance Facility, designed to ease the financing of research and innovation projects in renewable energy. A discussion document outlining the structure of FP8 in 2011 will form the basis for a formal proposal later in the year and will be decided by the European Parliament and the European Council. The official start of FP8 is in 2014, so the first calls for funding applications are likely to be issued at the end of 2013. The UK preparation timetable has been tailored to fit the presumed timetable, while informal stakeholder consultations have been going on since summer 2009. The public consultation will commence in the third quarter of 2010. At the end of 2010, the UK will submit its formal negotiating position to the Commission.