The document discusses the European Union's Horizon 2020 program for funding research and innovation from 2014 to 2020. It outlines several "flagships" or key areas of focus, including developing a knowledge-based economy, making growth more sustainable and inclusive, and fostering collaboration and skills. The main areas of focus for Horizon 2020 are excellent science, competitive industry, and better societies. It provides billions in funding for research areas like health, energy, transport, climate and more.