The grant is approximately 1M Euro, providing funding for three Research Associates, as well as 65% of Clark's salary, over a 5-year period (2012 - 2017).
These are the project pages of DisCoTex (Distributional Compositional Semantics for Text Processing): the ERC Starting Grant awarded to Stephen Clark at the University of Cambridge Computer Laboratory.
"ERC Starting Grants aim to support up-and-coming research leaders who are about to establish a proper research team and to start conducting independent research in Europe. The scheme targets promising researchers who have the proven potential of becoming independent research leaders. It will support the creation of excellent new research teams." (ERC Starting Grants)