European Commission - International Financing Association

What's the System of European Funding?

What's the System of European Funding?

European Commission as an executive power of European Union performs usual financial assistance, scientific and technical development, and stimulates implementation of new high-technology production to the world industry. The key tools of this support are different Framework Programmes which last generally for five years. The seventh Framework Programs budget consists of above fifty billion euro. Such Programs as Eurostars, European Joint Research Area issue grants for amount of billions euro.

The programs are set up in such a way they help as extensive research circle as possible. They grant universities and research centers, large agencies, small and middle organisations, national, local, state as well as private, commercial, and nonprofit organizations.

The programmes have 2 key objectives:

1.to improve living conditions of European inhabitants;

2.to improve competitiveness of European economic system.

One of the main conditions for European granting are improvements implementation plus their international introduction. Often participation of several partners from various countries is needed.

Choices and Interests of EC Companions

The majority of the programs are available for companions from countries which are not the European union members. Substantial part of projects granted by EC contains partners from outside countries.

As opposed to investment capital, EC does not claim a share in incorporated rights that appeared while financing, thus, partners have all privileges. Transferring of a product through EC program is a major advertising moment. Consequently, a considerable raise of partners status as well as global testing of production are seen. A high competitive level, stern projects assortment, applied by highly skilled professionals from countries around the globe, plus strict requirements make participation in EC projects esteemed.

One could state collaboration in European projects sets an internationally identified quality mark on a engaging organization as well as on a developed product as well."

by: Lilu Nights

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