Researchers from any field can compete for the grants that support pioneering projects. The ERC competitions are open to top researchers also from outside the union. The average success rate is about 12%. Five ERC grantees have won Nobel Prizes. Grant applications are assessed by qualified experts. Excellence is the sole criterion for selection; there are neither thematic priorities, nor geographical quotas for funding. The aim is to recognise the best ideas, and confer status and visibility to the best research in Europe, while also attracting talent from abroad.