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EC Aims to Increase R&D Spend from $74B to $107B

Wednesday, December 7, 2011

LONDON – The European Commission confirmed its plans to increase spending on research and development from €55 billion (US$74.1 billion) in the current seven-year program to €80 billion from 2014 through 2020, and said that €8 billion would go directly to small companies. In parallel, a new scheme to support research-based start-ups worth a further €2.5 billion was announced.

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