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Parliament approves EIT funds

The European Parliament has adopted the strategic innovation agenda and funding regulation for the European Institute of Innovation and Technology.

The approval of the report setting out the EIT’s agenda and regulation came as part of the agreement on the Horizon 2020 programme last week. It will see the EIT receive €2.7 billion for 2014-20, up from €300 million between 2008-13.

Marisa Matias, Portuguese MEP for the European United Left and Parliament rapporteur on the EIT, said that the institute had been “underfunded and unknown to most citizens, even for most of those working in science and technology” until now.

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