According to the EU Commission report:
The Horizon 2020 program is the biggest fund that the EU has. It amounts to a total of 80billion euros. It is specially designed to make breakthrough discoveries that can be commercialized. This program invests in disruptive startups that have potential in R&D.
Horizon 2020 is based in Three Pillars Scientific Excellence, Industrial Leadership, and Societal Challenges.
Horizon 2020 program maintains its dominance as a leader in the areas of science and innovation. It aims to promote Europe’s competitiveness, create jobs, and contribute to a better standard of living.
Financial support is provided through competitive competitions and an independent evaluation process of the submitted proposals.