Since 1984, the European Union has been using 'Framework programmes’ i.e. FPs to financially support various research and development activities. FP7 is the most recent framework program that has been active since 1st January 2007 and will end in 2013.
Although individual FPs last five years, FP7 has been running for almost seven years now. The maximum amount for Community financial contribution in FP7 was estimated to be around EUR 50 521 million during this seven-year period. FP7 builds on the achievements of previous FPs that all share the common goal of promoting the European Research Area’s development. FP7 aims at carrying this goal further towards the success and progress of the knowledge economy in Europe.
FP7 can be seen as EU’s financial tool to bundle together all research-related initiatives under the same roof. This will help in achieving the goals of development, competitiveness as well as employment. It will also play a major role in the progress and growth of CIP (Competitiveness and Innovation Framework Programme) as well as Education and Training programs. FP7 aims at promoting “risk-sharing finance facility,” which can help foster private investment in research.
These diverse goals of FP7 have been categorized as: Cooperation, Capacities, People and Ideas. A particular program corresponding to the major disciplines of EU research policy goes with each kind of goal.
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