In November 2010, the German government approved an €11.6 billion ($15.7 billion) spending budget for the Federal Ministry of Education and Research for fiscal 2011. The amount marks an increase of 7.2%. About €910 million ($1.2 billion) of the budget is designated for the Pact for Higher Education, an initiative to increase the number of places available and further research at universities. About €327 million ($444.6 million) of the budget will go toward the Initiative for Excellence, designed to create “elite universities.” The government will also give large research organization funding a €228 million ($310.0 million) boost. Germany’s Pact for Research and Innovation, which stipulates that research organizations receive a 5% annual funding increase, will also receive funding. In addition, €500 million ($679.7 million) will be spent on life science projects. About €131 million ($177.9 million) will be invested in the government research and innovation policy program High-Tech Strategy.

Source: Science Business