Horizon 2020 or H2020 is the European Union’s upcoming Framework Programme for Research and Innovation that will run from 2014 to 2020 with an €80 billion budget. As the 7th Framework programme draws to a close on 31st December 2013, the European Union’s 8th Framework Programme for research and innovation, renamed as Horizon 2020 will commence officially from 1st January 2014.  H2020 will be the main financial instrument that will execute the Innovation Union, a Europe 2020 flagship initiative aiming to secure Europe's global competitiveness and to create new growth and jobs in Europe.

Horizon 2020 has a single Specific Programme, which is subdivided into three main 'parts' (rounded budgets

Horizon 2020 Budget allocation in Billion Euros

The three main themes or pillars are sub categorized as follows

1) Excellence in Sciences (EUR 24.6 billion): Funding the best science through open competition.

  • European Research Council
  • Marie Curie Actions
  • Future and emerging technologies (FET)
  • Research Infrastructures

2) Industrial Leadership (EUR 17.9 billion): It includes a programme to support innovative SMEs, financial instruments, and a programme to encourage the development of enabling industrial technologies.

  • Leadership in enabling and industrial technologies: This part encompasses the themes information and communication technologies, nanotechnologies, advanced materials, biotechnology, advanced manufacturing and processing, space.
  • Enhancing access to risk finance for investing in research and innovation
  • Innovation in SMEs

3) Social Challenges (EUR 31.7 billion): It will support research in areas such as health, climate, food, security, transport and energy.
Health, demographic change and wellbeing

  • Food security, sustainable agriculture and the bio-economy
  • Secure, clean and efficient energy
  • Smart, green and integrated transport
  • Climate action, resource efficiency and raw materials
  • Inclusive, innovative and secure societies

An additional pillar includes Non- nuclear Direct Actions of the Joint Research Center (JRC) (EUR 2 billion): The JRC will contribute thematically to Part II 'Industrial Leadership' and Part III 'Societal Challenges'. The direct action of the Joint Research Centre amounts to a budget of EUR 2 billion.

For more information: http://ec.europa.eu/research/horizon2020/index_en.cfm?pg=h2020.