Finalising a free trade agreement between Australian and the European Union will deliver cheaper French wines, cheeses chocolates and luxury EVs down under, but it’s also a massive opportunity for local research and startups.
The good news is King Valley sparkling wine makers can still call their bubbles prosecco, but the even better news is that Australia is about begin treaty negotiations to enter Horizon Europe, a $155 billion pool of research and innovation funding, with access to the grants and equity funding expected within 12 months.
Horizon Europe is the European Union’s flagship research and innovation funding program – the largest in the world.
More than 20 countries are part of Horizon Europe, including Canada, New Zealand, the Republic of Korea, and the United Kingdom. From early 2027 Australian organisations will have access the current round of Horizon Europe funding to lead and participate in research projects in areas such as critical technologies, advanced computing, climate and clean energy, health, and critical minerals.
Prime Minister Anthony Albanese said Australia’s association to Horizon Europe will be jointly supported by the Group of Eight universities – Melbourne, Sydney, Adelaide, Monash, Queensland, UNSW, ANU and Western Australia.
“I am pleased to join European Commission President von der Leyen in announcing that we will commence negotiations on association to Horizon Europe for 2027,” he said.
“By associating with Horizon Europe, we are supporting international research collaboration innovation in Australia, creating jobs and driving productivity to help deliver a Future Made in Australia.
“This is a great investment in our future and is testament to the strength of our relationship with the European Union.”
The grants program has backed a wide range of research projects, spanning cancer research and rare diseases to quantum computing and clean energy.
A year ago, the European Innovation Council (EIC) picked 71 startups to share in €161 million in grants and approximately €226m in equity funding from the EIC Accelerator as part of Horizon Europe.
