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€175B Horizon Europe: Greece Must Prepare for the EU’s Biggest R&I Race

The European Commission wants to double Horizon Europe to €175 billion. For Greek SMEs, startups, universities and research centres, the next EU funding race is about to become bigger, faster—and far more competitive.

The biggest EU research and innovation funding opportunity in history is taking shape—and Greek organisations cannot afford to watch from the sidelines.

On 16 July 2025, the European Commission’s Directorate-General for Research and Innovation published a historic proposal: a new Horizon Europe programme worth €175 billion for 2028–2034. That is almost double the current Horizon Europe budget of approximately €95.5 billion.

The message from Brussels is unmistakable: Europe intends to invest at a scale not seen before in research, innovation, competitiveness, resilience and strategic technologies. The proposed motto says it all: “twice bigger, simpler, faster and more impactful.”

For Greek companies, startups, universities, research centres, municipalities and innovation-driven organisations, this is more than another policy announcement. It is an early warning—and a major invitation to prepare.

The Big Number: €175 Billion for Europe’s Innovation Future

The Commission’s proposal would make the 2028–2034 Horizon Europe programme the most ambitious EU research and innovation programme ever designed. With a proposed budget of €175 billion, Horizon Europe is positioned to become one of the most important engines for European competitiveness in the next decade.

The increase matters because EU funding is no longer only about supporting research projects. It is increasingly about building European industrial capacity, accelerating the green and digital transitions, strengthening supply chains, developing breakthrough technologies and turning scientific excellence into market-ready innovation.

For organisations that know how to compete, this can mean substantial non-dilutive funding for:

  • Research and development projects with European partners
  • Digital transformation, artificial intelligence and cybersecurity solutions
  • Climate technology, clean energy and circular economy initiatives
  • Health innovation, biotech and medical technologies
  • Smart mobility, logistics and advanced manufacturing
  • Deep-tech startups and scaleups with global ambitions
  • University-industry collaborations and technology transfer
  • Public-sector innovation and mission-driven local projects

The opportunity is enormous—but so will be the competition. Organisations that begin building partnerships, evidence, project pipelines and proposal capacity now will be in a much stronger position when the first calls under the new framework begin.

What Is Changing: Bigger, Simpler, Faster, More Impactful

The Commission’s proposed direction is not simply to add more money. It is to redesign the programme around greater speed, simpler access and measurable impact.

For years, applicants across Europe have highlighted recurring challenges in EU funding: complex documentation, slow processes, demanding reporting requirements and uncertainty over how to turn innovative ideas into competitive applications. The proposed programme aims to respond directly to these concerns through a more streamlined structure and less bureaucracy.

While the detailed legal architecture, work programmes and call topics will be developed over time, the political ambition is already clear. The next Horizon Europe is expected to focus more strongly on outcomes: European technologies deployed faster, innovations scaled sooner, stronger links between research and industry, and clearer benefits for citizens and businesses.

This should be especially relevant for SMEs. Smaller companies often have strong technology, specialised know-how and high-growth potential—but limited time and internal resources for complex grant processes. A simpler and faster programme could lower some barriers to participation, provided companies are ready with credible innovation strategies and the right consortium partners.

EU Missions Are Here to Stay

The Commission’s proposal also confirms the continued importance of EU Missions. These are large-scale, goal-oriented initiatives designed to bring together research, business, public authorities and citizens around urgent European challenges.

The Missions expected to continue cover five highly strategic areas:

  • Cancer: improving prevention, diagnosis, treatment and quality of life for patients
  • Climate Adaptation: helping regions, cities and communities become more resilient to climate risks
  • Ocean and Waters: protecting and restoring oceans, seas, rivers and water ecosystems
  • Climate-Neutral and Smart Cities: accelerating the transition to cleaner, smarter and more liveable urban environments
  • Soil Health and Food: restoring soil health and supporting sustainable land management

For Greece, these themes are exceptionally relevant. From wildfire resilience and coastal protection to sustainable tourism, island energy systems, smart cities, agri-food innovation, shipping technologies and health research, Greek organisations have real expertise to bring to European consortia.

The key is to translate local strengths into European-scale solutions. A project cannot succeed simply because it addresses a Greek problem. It must demonstrate how its solution can create impact across multiple EU countries, markets, regions or communities.

What This Means for Greek SMEs, Startups and Research Organisations

Greek participation in EU programmes has grown in sophistication over recent years, but the proposed €175 billion Horizon Europe budget raises the stakes significantly. This is a chance for Greek organisations to move from occasional participation to strategic leadership.

Greek SMEs can use Horizon Europe to finance high-risk innovation, validate products, develop pilots and access international customers and partners. Startups can position themselves around deep tech, AI, climate tech, health tech, advanced materials, space, cybersecurity and other strategic sectors. Universities and research centres can expand international collaborations, attract talent and commercialise research results. Municipalities, clusters and public bodies can participate in mission-oriented projects that address real environmental, social and economic challenges.

But funding does not go to ideas alone. It goes to organisations that can prove excellence, impact and implementation capacity. The most competitive applicants will have a clear innovation roadmap, robust financial planning, validated market need, credible partners and a proposal that directly matches European policy priorities.

In other words: the time to prepare is not when a call opens. The time to prepare is now.

Timeline: What Happens Next?

The proposed budget covers the EU’s next long-term financial period, from 2028 to 2034. Before it becomes operational, the proposal will need to move through negotiations and agreement among EU institutions and Member States.

That means the final programme details may evolve. Budget allocations, thematic priorities, funding instruments, rules for participation and evaluation criteria will be shaped during the legislative and policy process. However, organisations should not wait for every detail to become final.

The direction of travel is already visible: more investment in European innovation, stronger focus on strategic autonomy and competitiveness, continued mission-based action, greater pressure to deliver measurable results and a push for simpler participation.

Between now and 2028, successful organisations should use the current Horizon Europe period as a launchpad. They should build a track record, join relevant networks, identify consortium opportunities, develop project concepts and strengthen their internal EU funding capability.

Start Preparing Before the Competition Starts

€175 billion will create extraordinary opportunities—but it will not create easy money. The organisations that win will be those that prepare early, understand the European agenda and build partnerships before the calls become crowded.

For Greek businesses and institutions, the question is no longer whether EU funding will matter. The question is whether you will be ready to claim your share of Europe’s largest-ever research and innovation investment.

Now is the moment to map your innovation priorities, identify eligible funding pathways, strengthen your consortium network and turn ambitious ideas into fundable European projects. INTERALTER helps Greek organisations navigate Horizon Europe, Digital Europe, Erasmus+ and other EU funding programmes—from strategy and partner search to proposal development and project implementation.

The €175 billion Horizon Europe era is coming. Start preparing now—before your competitors do.