New Wave Of In Investment For A More Innovative Europe

Europe revealed yesterday research and innovation grants that will help, amongst other things, research for transportation solutions and various new technologies to propel vehicles.

As part of a €10.8 billion euros ($13.3 billion) budget for research and innovation agreed for 2013, the European Commission has announced yesterday an €8.1 billion ($10 billion) package of calls for proposals under the EU’s Seventh Framework Program for Research (FP7).

This is the final and largest ever package of FP7 calls.

Some of the priorities mentioned for FP7 are better use of raw materials, efficient energy, promoting efficiency and developing smart cities.

It is too early to know exactly which projects will get funding, but it has been made clear green transportation projects will be well supported.

Small and medium-sized enterprises, recognized as vital for innovation, are given special incentives to participate with a total package of €1.2 billion ($1.5).

The EU Framework program was first created in 1984 and The Volvo Group has participated since the beginning.

“This comes very timely for leveraging investment in research and development in transport that is needed to meet the numerous challenges our society is facing, particularly in terms of energy efficiency, information and communication technology, electromobility and growth within EU,” said Jan-Eric Sundgren, EVP Public & Environmental Affairs at AB Volvo.

The EU’s framework programs are of great importance for the automotive industry as they allow for broad cooperation with access to professional researchers and developers across Europe.

The step that will follow FP7 is already known as “Horizon 2020,” the next generation of the EU research and development framework program for 2014-2020.

“We also want to stress that the section on ‘Smart, Green and Integrated Transport’ in the Horizon 2020 proposal is exemplary in raising the need for a better EU transport system and the need to maintain the competitiveness and global leadership of the European transport industry in which the automotive industry plays a vital role” said Sundgren.

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