Industry & Business

Government Investment in Research & Development Amounted to €808.1 Million in 2019

 Breaking News

Government Investment in Research & Development Amounted to €808.1 Million in 2019

Government Investment in Research & Development Amounted to €808.1 Million in 2019
December 12
15:21 2019

Government spend on R&D was €765.7 million in 2018 which marks an increase of 3.6% in expenditure over the previous year. It is estimated to increase in 2019 by a further 5.5% with allocated funding of €808.1 million.

The Department of Business, Enterprise and Innovation and its Agencies (Science Foundation Ireland, InterTrade Ireland, Enterprise Ireland and IDA Ireland) were responsible for over half (47.6%) of all Government R&D investment in 2018 at €364.8 million.

The report published by the Department of Business, Enterprise and Innovation provides details of Government funded research programs and highlights the extent and variety of R&D being carried out in the country.

In addition, the report brings together the latest data on business, higher education and government agencies’ spending on R&D in Ireland. In 2018, Gross Expenditure on R&D (GERD) by all these sectors of the Irish economy was €3.704 billion. The highest expenditure on R&D continues to be within the business sector, which accounted for €2.778 billion or 75% of total GERD.

Minister for Training, Skills, Innovation and Research and Development, John Halligan TD said: “Research and Development are key drivers of competitiveness, productivity and economic growth. Ireland’s future economic growth and prosperity will depend in very large measure on our continued investment in R&D. This State investment is all about developing a competitive, knowledge-based economy and society, driving innovation in enterprise, building human capital and maximising the return on R&D investment for economic and social progress. It is encouraging to see the increased provision in 2019, especially given the competing demands and continuing pressure on public finances. This positive momentum must be maintained and we must continue to give R&D funding sufficient priority to ensure Ireland becomes a global innovation leader.”

About Author

mike

mike

Related Articles

New Subscriber

Subscribe Here



Advertisements





















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

[eventlist]