For the first time ever, the European Union is changing the method of financing key technological research by launching Joint Technology Initiatives (JTIs). The idea for JTIs came from the European Commission and was supported by EU Heads of State and Government at their recent informal summit in Lahti (Finland). JTIs will pool the resources of private industry, EU and national programmes to pursue ambitious common research objectives. The first JTI to be launched in early 2007 will be ARTEMIS. The ARTEMIS JTI will steer Europe’s research in embedded computing systems, which are increasingly essential for many key industrial sectors. This initiative will act as a beacon for further such initiatives to follow. Industrial leaders and national and EU research experts are meeting today in Helsinki to further discuss this new method of European research funding.