For the first time, the Commission has indicated funding priorities over two years, providing researchers and businesses with more certainty than ever before on the direction of EU research policy. Calls in the 2014 budget alone are worth around €7.8 billion, with funding focused on the three key pillars of Horizon 2020:
Excellent Science: Around €3 billion, including €1.7 billion for grants from the European Research Council for top scientists and €800 million for Marie Skłodowska-Curie fellowships for younger researchers
Industrial Leadership: €1.8 billion to support Europe's industrial leadership in areas like ICT, nanotechnologies, advanced manufacturing, robotics, biotechnologies and space
Societal challenges: €2.8 billion for innovative projects addressing Horizon 2020's seven societal challenges, broadly: health; agriculture, maritime and bioeconomy; energy; transport; climate action, environment, resource efficiency and raw materials; reflective societies; and security.
See: Horizon 2020 - The EU Framework Programme for Research and Innovation