"The European scientific community has for many years sought to create a specific European-wide mechanism for the funding of investigator-initiated “frontier” research as opposed to the traditional more thematic European
Framework programme. After several years of efforts and under the active leadership of the Commissioner for Research, a novel approach to EU research funding was implemented. The European Research Council (ERC)
came officially into existence on 2 February 2007, by a Decision of the Commission, in accordance with the Decisions of Council and Parliament on the Seventh Framework Programme and Rules for Participation, and the
Decision of the Council on the Specific Programme "Ideas".
An external review after two years of operation was also mandated to assess past performance and advise the Commission on future directions. The ERC Review panel met six times during the period February – July 2009
in order to assess the performance and functioning of the ERC according to the objectives set up by the Commission in its Communication of 26/8/2008." (Preamble)