The most important changes are outlined below:
| Description | FP7 | Horizon2020 |
| Focus | Research | Research and Innovation |
| Budget | 55 billion € | ~ 79 billion € |
| Components | Cooperation, Capacities, People, Ideas, Euratom, JRC | Excellent Science, Industrial Leadership, Societal challenges, Spreading Excellence, Science for Society, EIT, JRC, Euratom |
| Funding rate (up to) for research | 75% | 100% |
| Funding rate (up to) for Demonstration/ Innovation projects | 50% | 70% 100% for non-profit organizations |
| Overhead/indirect costs | Different models (20% 60% or actual) | 25% |
| Time-to-grant | 12 months in average after submission of proposal | reduced to 8 months |
| Ex-ante financial viability check | All beneficiaries exceeding 500,000 EUR EU contribution | Coordinators |
| Audit certificates to be submitted | All beneficiaries exceeding 375,000 EUR EU contribution – cumulative in periods | All beneficiaries exceeding 325,000 EUR EU contribution – only one at the end of the project |
| Interest on pre-financing | Reported by the coordinator | No need to declare |
| Thematic approach | “Cooperation” 10 themes | Will be under “Industrial leadership” and “Societal challenges” |
| Frontier Research, ERC | New in FP7 – Ideas block | Extended under the “Excellent Science” pillar |