Welcome to the EU Funding Glossary, your comprehensive guide to navigating the world of European Union funds. This handy resource aims to demystify the complex terminology surrounding EU funding programs, empowering you to better understand and engage with the diverse range of financial initiatives available. Whether you’re a researcher, entrepreneur, or policy-maker, this glossary will provide clarity and insights to help you unlock the potential of EU funds for your projects and initiatives. Let’s embark on this informative journey together and harness the power of European funding opportunities.
Amendments: Changes or modifications to the grant agreement that may be requested by either party during the project implementation, such as budget revisions, scope changes, or deadline extensions.
Annexes: Supporting documents or attachments that accompany the proposal, such as CVs of project staff, letters of support, previous work samples, or financial statements.
Audit: An independent examination and verification of the grantee’s financial records, statements, and compliance with the grant agreement and relevant regulations, often conducted by external auditors or audit authorities.
Budget: The financial plan that estimates the costs and revenues associated with the EU action, outlining the allocation of funds for different budget lines or cost categories.
Business Plan: A comprehensive document that outlines the strategy, objectives, market analysis, financial projections, and implementation roadmap for commercializing project results or creating a spin-off venture.
Call for Proposals: A public invitation by the EU to submit project proposals for a specific funding opportunity, outlining the program’s objectives, eligibility criteria, deadlines, and evaluation process.
Commercialization: The process of bringing project results, technologies, or innovations to the market for commercial use, including the development of products, services, or processes for sale or licensing.
Communication Materials: Designing and producing visually appealing materials, such as brochures, fact sheets, posters, or newsletters, to provide concise and accessible information about the project and its results.
Communication Strategy: The strategic approach and guidelines for conveying project messages, ensuring consistency, clarity, and effectiveness in reaching the target audience.
Compliance: The requirement for the grantee to adhere to all applicable laws, regulations, policies, and ethical standards throughout the project implementation.
Consortium: A group of organizations or entities that join forces to collaborate on a project proposal and, if awarded, to implement the project together.
Copyright: A legal right that protects original works of authorship, such as written documents, software code, artistic creations, or audiovisual materials, giving the creator exclusive rights to reproduce, distribute, and display the work.
Cost Categories: The different types of expenses included in the financial plan and financial report, such as personnel costs, travel costs, equipment costs, subcontracting costs, etc.
Cost Effectiveness: The efficient use of resources to achieve the desired project outputs, often measured by the ratio of project costs to the achieved results.
Cost Reimbursement: The process of requesting reimbursement from the funding program for eligible costs incurred during the implementation of the EU action, typically supported by financial reports and supporting documentation.
Cost Sharing: A requirement for the grantee to contribute a certain portion of the project costs from its own resources, in addition to the grant funds provided.
Delegation Agreement: A specific agreement between the European Commission and a delegated entity, such as a national authority or an implementing organization, for the management and financial control of EU funds.
Demonstrations and Exhibitions: Showcasing project outputs, prototypes, or innovations in exhibitions, trade fairs, or public events to raise awareness, attract potential users or investors, and stimulate interest.
Demonstrator: A prototype or working model developed to showcase and validate project results, technologies, or innovations, often used to attract potential users, investors, or industry partners.
Dissemination and Exploitation: Activities aimed at promoting project results, sharing knowledge, and maximizing the impact of the project, including publications, conferences, patents, and commercialization strategies.
Dissemination Plan: A comprehensive plan that outlines the objectives, target audiences, dissemination activities, and timeline for sharing project results and knowledge throughout the project’s duration.
Dissemination: The planned activities and strategies to communicate and share project results, findings, and knowledge with relevant stakeholders, including publications, workshops, conferences, online platforms, and other means of communication.
Eligibility Criteria: The set of requirements that applicants must meet in order to be eligible for an EU grant, such as nationality, legal status, sector of activity, previous experience, etc.
Eligible Costs: Expenses that are considered reasonable, necessary, and directly related to the EU action, as defined by the funding program’s guidelines and regulations (refer to the Grant Agreement art. 6)
Equipment Costs: Expenses related to the purchase, lease, or rental of equipment necessary for the implementation of the EU action.
Estimated Budget: A detailed financial plan that outlines the estimated costs and resources required to implement the project, including personnel salaries, equipment, supplies, travel expenses, and other eligible expenditures.
Ethics: The consideration of ethical principles, values, and guidelines in the project’s design, implementation, and impact, often related to issues such as privacy, consent, data protection, and research ethics.
EU Grants: Financial support provided by the European Union (EU) to individuals, organizations, and entities for various purposes such as research, innovation, education, regional development, and more.
EU Proposal: A written document submitted to the European Union (EU) in response to a specific call for proposals, outlining a project idea, objectives, methodology, and budget to seek funding.
European Commission (EC): The executive body of the EU responsible for proposing legislation, implementing decisions, and managing EU policies and programs, including the distribution of grants.
Evaluation Criteria: The predefined criteria used by the EU to assess and score project proposals, including relevance, impact, quality, feasibility, and budget.
Evaluation Reports: Documenting the outcomes, impact, and lessons learned from the dissemination activities, providing an assessment of their effectiveness and their contribution to the project’s overall objectives.
Evaluation: The systematic assessment and measurement of the project’s progress, performance, and outcomes, often involving indicators, benchmarks, and evaluation methods to track and report on project achievements.
Events and Workshops: Organizing conferences, seminars, workshops, webinars, or other gatherings to present and discuss project results, facilitate knowledge exchange, and engage stakeholders.
Exchange Rates: The rates used to convert currencies when dealing with expenses or revenues incurred in different currencies, often specified by the funding program or based on official exchange rate sources.
Exploitation Plan: A detailed plan or strategy that outlines how project results, knowledge, or intellectual property will be exploited, commercialized, or disseminated, including specific activities, timelines, and responsible parties.
Exploitation: The process of utilizing and maximizing the value, impact, and potential benefits of the results, knowledge, and intellectual property generated by an EU project.
Financial Closure: The finalization of the financial aspects of the EU action, including the submission of the final financial report, reconciliation of all expenses, and resolution of any outstanding financial matters.
Financial Corrections: Adjustments or reductions made to the eligible costs or funding amounts of the EU action due to errors, non-compliance, or irregularities identified during financial monitoring or audits.
Financial Guarantee: A financial instrument or collateral that may be required by the EU to ensure the repayment of grant funds in case of non-compliance with the grant agreement.
Financial Management: The process of planning, organizing, controlling, and reporting the financial resources allocated to EU actions, ensuring compliance with regulations and achieving effective and efficient use of funds.
Financial Monitoring: The ongoing oversight and review of the financial aspects of the EU action, including the verification of expenses, compliance with financial regulations, and detection of irregularities or discrepancies.
Financial Report: A document that provides an overview of the actual expenditures and revenues incurred during the implementation of the EU action, comparing them to the budgeted amounts.
Financial Reporting: The process of submitting financial statements and expenditure reports to the EU, documenting the use of grant funds and ensuring compliance with financial regulations.
Force Majeure: A clause that addresses unforeseen circumstances or events beyond the control of either party, such as natural disasters, wars, or acts of terrorism, which may temporarily suspend or modify the obligations under the grant agreement.
Framework Program: A long-term EU funding program, such as Horizon Europe, designed to support research, development, and innovation activities in specific areas.
Grant Agreement: A legally binding contract between the grant-making organization (grantor) and the recipient (grantee) that outlines the terms, conditions, and obligations associated with the grant.
Grant Amendment: A formal request to modify the terms of a grant agreement, such as budget reallocations, changes in project activities, or extensions of project duration.
Grant Amount: The total monetary value awarded to the grantee by the grantor for the specified project or activities.
Grant Management: The administrative and financial tasks involved in managing an EU grant, such as budget planning, financial reporting, audits, and compliance with EU regulations.
Grantee: The individual, organization, or entity that receives the grant funds and is responsible for implementing the project or activity specified in the agreement.
Grantor: The organization or entity providing the grant funds. It can be a government agency, foundation, corporation, or other funding body.
Horizon Europe: The EU’s research and innovation framework program for the years 2021-2027, which provides funding for research projects, collaborative initiatives, and innovation activities.
Impact: The expected positive and lasting changes / effects resulting from the use of project, such as social, economic, environmental, or policy-related impacts.
Indirect Costs: Expenses that are not directly attributable to the EU action but are necessary for its implementation, often calculated as a percentage of the direct costs.
Ineligible Costs: Expenses that are explicitly excluded or not considered allowable by the funding program’s guidelines and regulations.
Innovation: The introduction of new ideas, approaches, technologies, or solutions to address specific challenges or gaps, often emphasizing creativity and originality.
Intellectual Property Rights (IPR): Legal rights and protections for intellectual creations, inventions, or innovations resulting from the project, such as patents, copyrights, trademarks, or trade secrets, often requiring appropriate acknowledgement and dissemination.
IPR Management: The strategic planning and administration of intellectual property rights generated by the project, including patent filings, licensing agreements, copyrights, and trademark protection.
Knowledge Transfer: The exchange and dissemination of project-generated knowledge, research findings, methodologies, and best practices to relevant stakeholders, including industry, policymakers, and the wider scientific community.
Licensing: Granting permission or rights to use project results, intellectual property, or technologies to third parties, typically in exchange for royalties, fees, or other forms of compensation.
Market Analysis: The assessment of market potential, demand, competition, and feasibility for the commercialization or exploitation of project results, helping to identify target markets and potential customers.
Media Relations: Engaging with media outlets, journalists, or influencers to raise awareness of the project, its results, and potential societal impacts through press releases, interviews, or media coverage.
Methodology: The systematic approach or strategy proposed to achieve the project objectives, including research methods, work plans, data collection, analysis, and dissemination activities.
Mid-term Review: An evaluation conducted by the EU during the project implementation to assess the progress, achievements, and challenges faced by the grant recipient, usually resulting in recommendations for improvement.
Monitoring and Evaluation: The process of systematically assessing and tracking the progress, performance, and outcomes of the project, often involving regular monitoring visits and evaluations by the grantor.
Networking and Collaboration: Establishing partnerships, collaborations, or networks with relevant stakeholders, organizations, or projects to foster knowledge sharing, synergies, and maximize the impact of dissemination activities.
Objectives: Clear and measurable statements that describe what the project aims to achieve, often divided into overall objectives (broad goals) and specific objectives (detailed targets).
Online Presence: Establishing a presence on relevant online platforms, such as social media, professional networks, or project-specific channels, to share project updates, news, and engage with the target audience.
Open Access: Making project results, research publications, data, or software freely available to the public, often with minimal or no restrictions, enabling broader access, collaboration, and knowledge sharing.
Partnerships: Collaborative relationships between organizations or entities, often involving shared responsibilities, resources, and expertise, to enhance the project’s effectiveness, reach, and impact.
Patent: A legal right granted to inventors that provides exclusive ownership and protection for a new invention, technology, or process, preventing others from using, making, or selling the invention without permission.
Payment Schedule: The agreed-upon timeline and milestones for the disbursement of grant funds, indicating when and under what conditions payments will be made to the grantee.
Personnel Costs: Expenses related to the salaries, wages, social security contributions, and other benefits provided to the staff working on the EU action.
Policy Briefs: Summarized reports or documents highlighting the project’s policy implications, recommendations, or contributions to policy development, aimed at policymakers and relevant stakeholders.
Project Coordinator: The entity responsible for coordinating and managing the project activities, reporting, and overall administration within a consortium.
Public Engagement: Involving the general public in the project and its activities, through citizen science initiatives, public consultations, participatory events, or awareness campaigns, to increase public awareness and understanding.
Publications: Written materials or reports that document project activities, methodologies, findings, or outputs, often in the form of scientific articles, policy briefs, white papers, or technical reports.
Reporting Period: The specific time intervals during the project implementation when progress reports, financial statements, and other required documents must be submitted to the EU.
Reporting Requirements: The specific information and documentation that the grantee must submit to the grantor at regular intervals, typically including financial reports, progress reports, and other requested data.
Return on Investment (ROI): The measure of financial gain or profitability obtained from the commercialization or exploitation of project
Scope of Work: A detailed description of the project or activities to be carried out using the grant funds, including objectives, deliverables, milestones, timelines, and performance indicators.
Spin-off: A new company or startup created to develop and commercialize specific project results, technologies, or intellectual property, often originating from the research or expertise of project partners.
Stakeholders: Individuals, organizations, or groups that have an interest or are directly affected by the project, including beneficiaries, partners, policymakers, industry representatives, and community members.
Subcontracting Costs: Expenses incurred when subcontracting specific tasks or services to external organizations or entities as part of the EU action.
Sustainability: The ability of the project to continue its benefits, activities, or impacts beyond the project’s duration, often addressing long-term viability, resource mobilization, and institutionalization.
Target Audience: The specific individuals, groups, or organizations that the project aims to reach and engage with through its dissemination activities, such as policymakers, industry stakeholders, researchers, or the general public.
Target Groups: The specific individuals or entities that the project aims to benefit or reach, such as vulnerable populations, researchers, businesses, policymakers, or the general public.
Technology Readiness Level (TRL): A scale used to assess the maturity and readiness of technologies or innovations for practical applications, ranging from basic concepts (TRL 1) to fully deployed systems (TRL 9).
Technology Transfer: The process of transferring knowledge, technology, or innovations from the research or development stage to practical applications, often involving collaborations with industry or other sectors.
Termination Clause: A provision in the grant agreement that outlines the circumstances under which either party can terminate the agreement prematurely and the associated consequences or penalties.
Trademark: A recognizable sign, symbol, or logo that distinguishes products or services from others in the marketplace, providing exclusive rights and protection against unauthorized use by competitors.
Training and Capacity Building: Conducting training sessions, courses, or workshops to enhance the skills and knowledge of stakeholders, promoting the adoption and use of project results.
Travel Costs: Expenses associated with transportation, accommodation, meals, and other necessary costs incurred during authorized travel for the EU action.
Valorization: The process of enhancing and promoting the value and impact of project results, often through commercialization, licensing, spin-off creation, or other forms of technology transfer and exploitation.
Visual and Multimedia Materials: Creating visually engaging materials, such as infographics, videos, animations, or interactive content, to effectively communicate project results and engage the target audience.
Web Portal/Website: An online platform specifically created for the project, hosting project information, updates, publications, and other relevant resources, often serving as a central hub for dissemination.
Work Package: A self-contained part of a project with specific objectives, tasks, deliverables, and milestones, often used to divide the project into manageable units for planning and implementation.
Work Plan: A detailed timeline or schedule that outlines the project activities, tasks, milestones, and deliverables over the project’s duration, often presented in the form of a Gantt chart or a table.
Work Programme: A document published by the EU that outlines the funding priorities, objectives, and specific topics for a given period or funding scheme.