The Framework Programmes for Research and Technological Development, also called Framework Programmes or abbreviated FP1 to FP7 with “FP8” called “Horizon 2020” are EU funding programmes to support research, development, technology and innovation.
Horizon 2020 covered 2014-2020, and after it is finished Horizon Europe will take effect for 2021-2027. Every EU budget programme is for a 7 year period.
The plan from the European Commission for Horizon Europe is to increase EU spending by 50% to approximately €100 billion. This is a projection, after negotiating with the European Parliament and EU member states, the final amount will likely be lower. I
What are the details of Horizon Europe? €2.4 billion for the Euratom nuclear research program and €3.6 billion is for an umbrella investment fund, called InvestEU.
Main features of Horizon Europe:
Find out more in this EU press release.