Each research funder has unique guidelines, requirements, and application procedures. Some funding bodies use public money to fund ‘public good’ research. Other funders expect commercial exploitation and job creation. You need to understand the particular function and vision of the relevant funding body. 

The EC issues ‘Calls for Proposals’ which are mainly publicly funded and highly competitive. Open Calls are accessible all year. Scheduled Calls are usually annual, but can be more frequent. The application process may be in stages. Calls can be ‘topic-driven’ or ‘bottom-up’.

You need to plan well in advance and find out the Call Date.

The current Open Calls are here