Research is set to remain high on the EU’s political agenda as Research, Innovation and Science Commissioner Máire Geoghegan-Quinn announced the release of nearly EUR 7 billion for stimulating European innovation through research funding on 20 July 2011. The funding boost, part of the Seventh Framework Programme (FP7), is the latest phase of the Innovation Union rollout, one of the flagship initiatives of the Europe 2020 Strategy launched in October 2010. The Innovation Union strategy is to ensure Europe is well equipped to take on fierce global competition from emerging markets by tackling its ‘innovation deficit’.