Following CBI's long running campaign, businesses have been assured that any funding they secure through EU programmes - from now until the end of 2020 - will be guaranteed by the UK government, including Horizon 2020.
The implementation period agreed in March would see the UK continue to participate in all EU programmes – providing certainty for British organisations and their European counterparts.
The guarantee, will reflect this by underwriting the UK’s full allocation for structural and investment fund projects, such as funding secured through the European Regional Development Fund.
In addition, the Treasury will also guarantee funding for UK organisations which successfully bid directly to the European Commission - through projects like Horizon 2020 - until the end of this EU budget period if no deal is agreed.
This will give potential applicants continued confidence to bid for funding whatever the outcome of the negotiations, and ensure that UK organisations continue to benefit from funding post-Exit.
Felicity Burch, CBI Innovation Director, said:
“Many of our most innovative firms will be encouraged that UK access to Horizon 2020 has now been underwritten to the end of the programme.
“It’s an important signal to investors that the UK is deeply committed to international engagement on innovation, as European support is a vital string to that bow.
“At a time of uncertainty, businesses and universities need confidence that the deeply forged networks and funding they rely on to innovate, will be maintained.”