The European University Association (EUA) has published a position paper advocating for more ambitious EU funding for research and innovation (R&I) in Europe after Horizon-2020. The paper reiterates the strategic importance of fostering a united and prosperous knowledge-based society in Europe. According to the position paper, Horizon 2020 is significantly underfunded, despite its high-impact on society and economy, with EUA advocating for a quantitative and qualitative increase in EU research funding. The paper also suggests opening a discussion on a possible ring-fencing or shift of funding from European Structural and Investment Funds or other sources for a more ambitious and well-functioning research programme. The paper aims to contribute to the upcoming discussion on the EU’s Multiannual Financial Framework (MFF) and the next EU Framework Programme for Research and Innovation (FP9).