The European Commission has outlined its plans to spend €30 billion of the EU research and innovation funding programme Horizon 2020 during 2018-2020.

Aimed at supporting scientific excellence in Europe, Horizon 2020 is the EU's biggest ever research and innovation framework programme with a budget of €77 billion over seven years (2014-2020). It will focus on critical topics including migration, security, climate, clean energy, and digital economy over the course of next three years.

The budget details show that the Commission is planning to spend €1.7 billion for digitising and transforming European industry and services.

"Artificial Intelligence, genetics, blockchain: science is at the core of today's most promising breakthrough innovations. Europe is a world leader in science and technology and will play a major role in driving innovation,” Carlos Moedas, Commissioner for Research, Science and Innovation, said.

The Commission also announced its plans to start a European Innovation Council. According to the official release:

“Between 2018 and 2020, the Commission will mobilise €2.7 billion from Horizon 2020 to support high-risk, high-gain innovation to create the markets of the future. Moreover, Horizon 2020 will make better use of its "crack the challenge" prizes to deliver breakthrough technology solutions to pressing problems faced by our citizens.”

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