Commission presents proposals for 'bold new R&D ventures'[de] 

Joint Technology Initiatives (JTIs) "are bold new ventures of our European research policy and represent a new approach to financing R&D", said Research Commissioner Janez Potočnik on 15 May 2007, presenting the two first proposals for JTIs adopted by the Commission. With these initiatives, the Commission aims to "ensure that new good ideas and research results are quickly taken up by industry", Potočnik continued.   

With regards the value-added that JTIs can bring, the Commissioner said that they will increase private investment in research, tackle real identified market failures, and bring true socio-economic benefits that outweigh the costs of the initiatives. "We have designed them to have the necessary flexibility as public-private partnerships (PPP) while guaranteeing a sound implementation of community funds," Potočnik added.

The first JTI on Embedded Computing Systems , ARTEMIS, addresses the invisible computing power running all structures using machines (cars, energy networks, washing machines, factories, phones etc.). It is expected to have a €2.8 billion budget for seven years, some 50% coming from industry, some 16.7% from the Commission and 33.3% from member-state programmes. 

The second JTI on Innovative Medicines Initiative , IMI, is set to support the development of new knowledge, tools and methods for quicker, better and safer development of new medicines. It will have a €2 billion budget for seven years - €1 billion coming from the Commission and €1 billion from the industry. The Commission contribution will go entirely to small and medium-sized enterprises (SMEs) and universities. The work done by SMEs is expected to be taken up by the big pharma companies and the university research validated by clinical trials. 

Every JTI will be different, but each of them will be managed by a Joint Undertaking (JU),  established under community law, and funded both by private and public (national, community) money. The Commission part of the money for JTIs will come from the Seventh Framework Programme (FP7).

The bodies of the JU, the legal implementation body, vary according to the founding members. IMI has two founding members, the Commission and the European Federation of Pharmaceutical Industries (EFPIA), and will be composed of a board, an executive office and a scientific committee. 

ARTEMIS, accounts the Commission, ARTEMISIA industry association and some member states as its founding members and its JU will consist of a governing board, a public authority board, an industry and research committee and an executive director with a secretariat.

"IMI will increase the efficiency of drug discovery and development, enabling more effective and safer medicines to be developed to meet the needs of EU citizens. Importantly, IMI will help to maintain and augment the European science base in order to make Europe more competitive and an attractive place for biopharmaceutical research investment," said the European Federation of Pharmaceutical Industries and Associations (EFPIA). 

The federation calls on the Commission, member states and Parliament "to ensure maximal industry participation in IMI, through swift adoption of legislation that enables IMI objectives to be realised with streamlined and efficient processes and procedures".