On the framework of European Economic Recovery Plan, the Commission has launched three public-private partnerships (PPPs) to promote research initiatives mainly in sectors touched by the financial crisis – automotive, construction and manufacturing. PPPs promote cooperation in research between public authorities and the private sector. The Commission will prepare the strategy for each PPP in close collaboration with the relevant industrial partners.
The Commission foresees an overall contribution of 50% to the total budget for the research activities from the budget of the 7th Framework Programme. The rest of investments will be provided by the private sector. The combination of public and private capacities and money can help the process of recovery and the development of markets that will form the basis of Europe’s future economic prosperity.