Minister Bruton said: “I have consistently said that if we are to get out of this crisis and create the growth and jobs we so badly need, we must focus on three things: reducing business costs, improving access to finance and encouraging R&D and innovation. This €55billion EU fund is a fantastic resource for people and organisations involved in R&D across the continent, and I am delighted to see that we in Ireland have taken full advantage by drawing down €300million since 2007.

“We have achieved a substantial improvement in our R&D performance in recent years and the FP7 funds played an important role in that. However there is no room for complacency, we must be ambitious about what we can achieve in this area, and I would strongly encourage people to ensure that we take full advantage of these funds. I am determined to ensure ambitious government policies are in place to ensure that we can continue to improve our R&D performance and get people back to work”.

Commissioner Geoghegan-Quinn added: "Upcoming FP7 calls in July 2011 and July 2012, will be worth approximated €18 billion, with some 15% earmarked for Small and Medium Enterprises (SMEs). The breadth of sectors covered by FP7 includes agriculture, fishing, food, bio-technology, nano-technology, climate change, environmental services, transport, health, energy, information communication and technology, new materials, security and space. Ireland's continued strong participation will contribute to transforming the EU into an Innovation Union by 2020. We need to properly use new research that we develop so that we can create novel goods and services that the people will use, improve our quality of life and build a better society both in Ireland and in a European context."

The EU's Seventh Framework Programme (FP7) runs from 2007 to 2013, with over €55 billion available for research funding. Ireland has an above average success rate, drawing down over €300 million at the end of 2010, and on target to surpass the Government's own ambitious target of €600 million over the lifetime of FP7.

In Ireland, researchers are assisted by National Contact Points (NCPs) in different sectors who will advise and assist funding applicants. Enterprise Ireland works to inform and assist Irish-based researchers to maximise Ireland's draw-down of this competitive funding. A web portal of interested researchers and businesses can be accessed at www.fp7.ie. Further information on the EU programme can be accessed at http://cordis.europa.eu/fp7

Upcoming Calls this year and in 2012 for research proposals total some €18 billion, have a quota of 15% for Small and Medium Enterprise participation.

Highlights for Ireland under the current FP7 include:
· 43 Irish FP7 participants have won funding of over €1 million
· Irish companies have receive of €74 million in competitive funding from FP7
· Collaborative North-South research projects have been awarded €35 million in FP7 funding
· Irish companies are competing successfully in all sectors from argi-food to space technologies.