The European Commission has presented a progress report covering the first two years of the 7thEU framework programme for R&D (FP7), which will last until 2013. The biggest EU R&D funding programme ever, with a €54bn budget over 7 years.

Priority areas such as environment, energy or nanotechnologies contribute to building a sustainable, low carbon economy, with industry-led technology platforms helping to define topics which acknowledge industry's long term needs.

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