I finally found this closer to the source article that presents a very different picture. Nokia is only one member of a consortium, is not even the leader of the consortium. The core consortium is comprised of three universities, three research institutes, and two industrial partners, Nokia and AMO (Germany). Then there are "hundreds of dedicated research teams" around the world outside the core group. The EU is allocating 1 billion euro over 10 years for the consortium. The headlines elsewhere make it sound like Nokia is getting enough to perhaps save it from its failings in mobile phones. $1.35 billion sounds like so much money. Well, how does their likely share of $135 million per year for ten years compare to what they would need to survive the Elop effect on their mobile business?

€2 billion in European funding goes to Graphene and Human Brain projects

According to that article, the "$1.35 billion" grant is actually 1 billion euro (half the 2 billion funding to graphene research, half to human brain research) and as the article says

Large-scale interdisciplinary projects titled Graphene and the Human Brain Project will receive up to €1 billion each ($1.4 billion or £8.5 million) over 10 years as the winners of the European Commission’s Future and Emerging Technologies (FET) Flagships Initiative.

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Who’s in the Graphene consortium?

Led by Dr. Kinatet of Chalmers University of Technology, the Graphene consortium includes the University of Manchester, Lancaster University and Cambridge University in the UK; the Catalan Institute of Nanotechnology in Spain; the National Research Council of Italy; the European Science Foundation, based in France; and industrial partners Nokia from Finland and AMO from Germany. Aside from these core partners, the project will include hundreds of dedicated research teams based at universities in Europe and other parts of the world.

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