Horizon Europe is a seven-year European Union scientific research initiative to help develop a sustainable and livable society in Europe. It is the ninth of the Framework Programmes for Research and Technological Development (FP9), and the successor of the Horizon 2020 programme (FP8). The European Commission drafted and approved a plan for Horizon Europe to raise EU science spending levels by 50% over the years 2021–2027.
The budget of the European Union (a.k.a. The Union’s annual budget) is used to finance EU funding programmes (such as the European Regional Development Fund, the Cohesion Fund, Horizon Europe, or Erasmus+) and other expenditure at the European level.
The EU budget is primarily an investment budget. Representing around 2% of all EU public spending, it aims to complement national budgets. Its purpose is to implement the priorities that all EU members have agreed upon. It provides European added-value by supporting actions which, in line with the principle of subsidiarity and proportionality, can be more effective than actions taken at national, regional or local level.
The European Institute of Innovation and Technology (EIT) is an independent body of the European Union with juridical personality, established in 2008 intended to strengthen Europe's ability to innovate. The EIT's three "core pillars" of activities are entrepreneurial education programmes and courses across Europe that transform students into entrepreneurs; business creation and acceleration services that scale ideas and budding businesses; and innovation-driven research projects that turn ideas into products by connecting partners, investors, and expertise.
As part of the EU's Framework Program for Research and Innovation "Horizon Europe" under Pillar 3 "Innovative Europe", the EIT contributes to achieving the four key strategic orientations of the Horizon Europe Strategic Plan. These are: promoting an open strategic autonomy by leading the development of key digital, enabling and emerging technologies, sectors and value chains; restoring Europe’s ecosystems and biodiversity and managing sustainably natural resources; making Europe the first digitally-enabled circular, climate-neutral and sustainable economy; creating a more resilient, inclusive and democratic European society. The EIT is funded through Horizon Europe.
The Framework Programmes for Research and Technological Development, also called Framework Programmes or abbreviated FP1 to FP9, are funding programmes created by the European Union/European Commission to support and foster research in the European Research Area (ERA). Starting in 2014, the funding programmes were named Horizon.
The funding programmes began in 1984 and continue to the present day. The most recent programme, Horizon Europe, has a budget of 95.5 billion Euros to be distributed over 7 years.