Horizon 2020 is the name of the Framework Programme for Research and Innovation 2014-2020, following the EU's Seventh Framework Programme for Research and Technological Development - FP7. The proposed Framework Programme for Research and Innovation will build upon the successes of FP7, the Competitiveness and Innovation Framework Programme (CIP) and the European Institute of Innovation and Technology (EIT)

Horizon 2020 will tackle societal challenges by helping to bridge the gap between research and the market by, for example, helping innovative enterprise to develop their technological breakthroughs into viable products with real commercial potential. This market-driven approach will include creating partnerships with the private sector and Member States to bring together the resources needed.

It will be built around 3 major priorities:

• Excellent Science
• Competitive Industries
• Better Society

It is proposed that € 80 billion be allocated for the 2014-2020 period, thus making Horizon 2020 the world's largest research programme.

The proposed support for research and innovation under Horizon 2020 will:

• Strengthen the EU’s position in science with a dedicated budget of € 24 598 million. This will provide a boost to top-level research in Europe, including an increase in funding of 77% for the very successful European Research Council.
• Strengthen industrial leadership in innovation € 17 938 million. This includes major investment in key technologies, greater access to capital and support for SMEs.
• Provide € 31 748 million to help address major concerns shared by all Europeans such as climate change, developing sustainable transport and mobility, making renewable energy more affordable, ensuring food safety and security, or coping with the challenge of an ageing population.

International cooperation will be an important cross-cutting priority of Horizon 2020. In addition to Horizon 2020 being fully open to international participation, targeted actions with key partner countries and regions will focus on the EU’s strategic priorities.