Research & Innovation

Government Investment in Research & Development Amounts to Over €750 Million in 2018

 Breaking News

Government Investment in Research & Development Amounts to Over €750 Million in 2018

Government Investment in Research & Development Amounts to Over €750 Million in 2018
October 16
09:47 2018

The latest figures on Government investment in research and development (R&D), published by the Department of Business, Enterprise and Innovation, show that over €750 million is estimated to have been invested in R&D in 2018. The data in The Research and Development Budget 2017-2018 publication is compiled from a comprehensive survey of thirty Government Departments and agencies. It shows that the Government spend on R&D was €739.3 million in 2017 and that allocated funding for R&D is estimated at €751.7 million in 2018.

Minister of State 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 2018, 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.”

The Department of Business, Enterprise and Innovation and its agencies Science Foundation Ireland, Enterprise Ireland and IDA Ireland were responsible for over half (51.5%) of all Government R&D investment in 2017 at €380.6 million.

The report provides details of Government funded research programmes 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 2017, Gross Expenditure on R&D (GERD) by all these sectors of the Irish economy was €3.396 billion. The highest expenditure on R&D continues to be within the business sector, which accounted for €2.391 billion (over 70%) of total GERD.

About Author

editor

editor

Related Articles

Upcoming Events

  • No upcoming events
AEC v1.0.4

The Magazine

Advertisements