An update on the Horizon 2020 Treasury Guarantee was delivered in London on 18th July by Universities and Science Minister Jo Johnson.
The statement reiterated that the Treasury Guarantee, announced in June and August 2016, will underwrite successful Horizon 2020 projects applied for before the UK's departure from the the UK and its commitment to UK participants to safeguard funding for research and innovation projects.
The update provided further clarity in relation to what the guarantee will cover and answers several key questions. To highlight the main points:
The UK Government guarantees awards where the application is submitted before exit and is subsequently approved. This includes proposals which are informed of their success but, at the point of exit, have not signed a grant agreement, and proposals which have been submitted before exit and that are only informed of their success following exit.
Two stage application processes are also included in the UK Government's underwrite commitment, provided that the proposal for the first stage of the application is submitted before the UK leaves the EU and that the application is subsequently successful.
The Q&A also states that the underwrite covers those schemes under Horizon 2020 which are administered in non-standard ways, including Joint Technology Initiatives (JTIs), Joint Programming Initiatives (JPIs) and ERANETs for example.
Further information is available on the Government Q&A and the speech by Jo Johnson, the UK Minister of State for Universities, Science, Research and Innovation.