The Council reached an agreement on a partial general approach on a draft regulation laying down the terms and conditions for the participation in research projects funded under Horizon 2020. Ministers also reached the same approach on a draft regulation amending the rules of the European Institute of Innovation and Technology (EIT). This draft regulation will enable the EIT to be an integral part of Horizon 2020.

A partial general approach, which is an agreement on the essential elements of a legal act, pending the opinion of the European Parliament and the relevant discussions on the EU's multi-annual budget, was reached by the Council on rules for the participation in research projects funded under Horizon 2020. The draft regulation also lays down the rules governing the exploitation, dissemination and protection of results of the research projects. The proposal for the new EU Framework Programme for Research and Innovation Horizon 2020 was unveiled in November 2011.

The Council also reached an agreement on a partial general approach on a draft regulation amending the rules of the European Institute of Innovation and Technology (EIT). The draft regulation will enable the EIT to be an integral part of Horizon 2020. This integration takes place primarily via the Knowledge and Innovation Communities (KICs), which bring together organisations on a long-term basis in order to respond to big societal challenges.The EIT would receive a financial contribution of € 3.1 billion for the period 2014 to 2020 under Horizon 2020.

Ministers also held a policy debate on the key elements that should lead to the achievement and implementation of the European Research Area (ERA). The outcome of the debate will feed into draft conclusions on ERA to be submitted for approval by the Council at the December Competitiveness Council. They agreed that a close monitoring of the implementation of every aspect will be required to ensure delivery to the goals of ERA.