European Commission to Invest €30 Billion in Technology Initiatives

Announcements, Blockchain, Investing | October 31, 2017 By:

The European Commission has committed 30 billion euros of funding on technology initiatives, including 2.7 billion euros to establish a European Innovation Council.

The investment would come through the European Union’s Horizon 2020 initiative, which to date has 77 billion euros at its disposal to support European scientific advancement.

Over the next 3 years, the commission will seek greater impact of its research funding by focusing on fewer, but critical topics such as migration, security, climate, clean energy and the digital economy. Horizon 2020 will also be more geared towards boosting breakthrough, market-creating innovation.

Commissioner for Research, Science and Innovation Carlos Moedas expressed an interest in blockchain technology among other significant breakthroughs.

“Artificial intelligence, genetics, blockchain: science is at the core of today’s most promising breakthrough innovations,” said Moedas. “Europe is a world leader in science and technology and will play a major role in driving innovation. The Commission is making a concerted effort – including with the European Innovation Council which takes its first steps today – to give Europe’s many innovators a springboard to become world leading companies.”