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The seventh Framework Programme (FP7), the EU's instrument for funding in science and technology was set with the objective to invest 15% of the total available budget of the programme in Small and Medium-sized Enterprises (SMEs). The European Commission, the European Union's executive body, announced on October 25th that this target had been exceeded, as SMEs have so far received 16.3% (€2.9 billion) of the budget.
The Eurostars Programme, managed by EUREKA, as the unique funding scheme within FP7 to be dedicated to research-performing SMEs, is an important contributor to this success.