27/05/2014

Businesses Encouraged To Take Up EU R&D Funding

Enterprise Minister Arlene Foster has encouraged local companies to get involved in the EU's financing programme for R&D and innovation.

Horizon 2020 is to provide nearly €80bn in funding for research and innovation over the next seven years, while the COSME (Competitiveness of Enterprises and Small and Medium-sized Enterprises) Programme will provide €2.3bn of additional funding for SMEs by 2020.

Addressing over 180 delegates at an information seminar on the topic, Minister Foster said: "Horizon 2020 promises to be very good for business and it has been purposely designed for SMEs. More money will be available for testing, prototyping, demonstration and pilot type activities, for business-driven R&D, entrepreneurship, and for shaping demand for innovative products and services.

"Supporting researchers in their work will ensure that we continue to maintain, attract and develop dynamic partnerships. This will allow us to continue to develop home-grown companies, attract foreign investment, create quality jobs and maintain a strong pool of talent in Northern Ireland."

The seminar at Titanic Belfast was organised by Invest Northern Ireland and the Northern Ireland European Regional Forum jointly chaired by the Office of the First Minister and Deputy First Minister and Belfast City Council.

(IT/JP)

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