The EU's new funding programme for research and innovation, Horizon 2020, got the go-ahead from the European Parliament's Research Committee today.
Welcoming the news, SNP MEP Alyn Smith said:
"Scotland does world class research and Horizon 2020 opens up a host of opportunities for us to improve on our already impressive record.
"Our education and research sectors have done well previously from EU funding and Horizon 2020 was tailor-made for us in Scotland. There's a big focus on bridging the gap between lab and factory under the new rules and we've shown in the past that Scots are good at building spin-out companies.
"Getting the budget done was tricky but we've earmarked funds for clean energy research which Scotland is leading the world in right now and a big chunk of the funding is reserved for small companies - just perfect for the Scottish companies in the sector.
"Scottish researchers now have the clarity they need to move forward. It's been a long and complex process but Parliament should agree it in October and the end is in sight."