The continent’s leaders are hoping to benefit as the Trump administration cuts support for research and threatens universities such as Harvard and Columbia with the freezing of federal funds.

European leaders unveiled a new initiative Monday to entice U.S. scientists to bring their expertise across the Atlantic. They’re calling it “Choose Europe for Science,” and it will allocate €500 million ($565 million U.S.) over the next three years to “make Europe a magnet for researchers” from around the world.

The European Union is launching a drive to attract scientists and researchers with offers of grants and new policy plans.