EU billions up for grabs

Gaining access to funding from the

is no easy matter, but success can play an essential part in helping a firm to realise its full potential.

The

(FP7), which begins on 1 January, is the next instalment of an ongoing, rolling programme of funding for scientific and technical activities that began in the mid-1980s. From January there will be 25 EU member states and a number of associated nations are all looking to attract a share of the €50bn (£34bn) on offer.

There is a substantial amount of money available over the next seven years for collaborative research and development projects, because European co-operation is the cornerstone of the programme.

Among the high-level themes identified as priorities by the EU are health, energy, transport, the environment, security and new production technologies.

Successful applicants are more likely to be those who take into account the underlying EU philosophy, which is to fend off competition from the US, Japan and, more recently, China and India. Europeans collaborating to develop superior technology is deemed the best way forward. This reflects the fact that the 'knowledge economy' is essential for Europe's continued growth.