ARTEMIS, the first European Joint Technology Initiative (JTI) will conduct research in embedded computing systems, with 3 billion euro expected to be spent on electronics and software from 2007-2013.

ARTEMIS (Advanced R&D on embedded Intelligent Systems), the European technology platform on electronics and software, will be the first technology platform the strategic research agenda of which will be implemented in the form of a Joint Technology Intitiative.

"The budget of the ARTEMIS initiative will be around €3 billion over seven years. More than 50% of this would come from industry, while the rest would be financed by the Commission, member states and associated states involved," said the commissioner responsible for information society and media, Viviane Reding, in the IST 2006 event on 21 November 2006. 

17 major European companies, including Airbus, British Telecom, Daimler Chrysler, Nokia, Philips, ST Microelectronics and Thales have already joined ARTEMIS and some 14 European governments have also expressed their intention to join. The Finnsh government recently committed €70 million for this purpose.

According to ARTEMIS, embedded technologies and embedded systems are the fastest growing sector of information technology (IT) and still hold many unexplored business opportunities.