For every euro invested Horizon Europe generates up to €11 in economic gains, according to data from the European Commission.
Horizon Europe is the EU’s flagship research programme which runs until 2027. The EU says it is a “major driver of economic and societal benefits.”
“For every euro of costs to EU society, the programme is expected to generate up to six euros in benefits for EU citizens by 2045.
In terms of economic growth, every euro of EU contribution is estimated to generate up to €11 in GDP gains by 2045″, the European Commission says.
The EU is currently consider its next budget for 2028 to 2035.
The European Commission has proposed a massive two trillion Euro budget with strong support for research funding.
Under the proposals, Horizon Europe would grow to a fund of €175 billion designed with more economic gains.
There would also be “moonshot” funding – money thrown at projects which are riskier but could come back with huge benefits for the European Union.
The current Horizon budget has €93.5 billion.
At its halfway point in January 2025, the programme has funded over 15,000 projects with a combined budget of more than €43 billion.
Projects have included fuel cells for electric buses, new antibiotics developments in medical science and progress in artificial intelligence (AI) technologies.
Four-fifths of the funding is disriuted through the European Research Council (ERC).
Since its launch in 1984, ERC funding has supported 35 Nobel Prize winners.
“Horizon Europe is delivering on its promise to drive innovation and strengthen Europe’s competitiveness, said European Research Commissioner, Ekaterina Zaharieva.
Its strong returns and measurable economic impact clearly demonstrate its success, providing real benefits to citizens across the EU.
“We must continue to push for greater impact and ensure that Europe leads in research and innovation.
Our commitment is to make EU research and innovation funding simpler, more focused and even more transformative.”