This document is an excerpt from the EUR-Lex website
Research and innovation contribute directly to our level of prosperity and the well-being of individuals and society in general. The Treaty of Lisbon strengthens European Union (EU) action in this field of research with the aim of creating a European Research Area.
With a budget of nearly EUR 80 billion, ‘Horizon 2020’ is the EU's research and innovation programme for the period 2014-2020. It is designed to implement the Innovation Union, Europe's strategy for innovation and one of the Europe 2020 flagship initiatives. Horizon 2020 aims to establish the EU as a leading knowledge-based economy, producing world-class science and innovation to ensure Europe's global competitiveness.