http://www.futurict.org.uk/ is the website of the UK hub of this "proposal"
'The FuturICT flagship proposal intends to unify hundreds of the best
scientists in Europe in a 10 year 1 billion EUR program to explore
social life on earth and everything it relates to. The FuturICT flagship
proposal will produce historic breakthroughs and provide powerful new
ways to manage challenges that make the modern world so difficult to
predict, including the financial crisis.'
Some of its ideas/plans are similar to those of The Venus Project.