The latest report on Government investment in research and development (R&D), published by the Department of Jobs, Enterprise and Innovation on Thursday, shows that the Irish government allocated €761 Million for R&D in 2016.
Survey data in ‘The Research and Development Budget 2015-16’ publication is compiled from a comprehensive survey of all Government Departments / Agencies and show that the Government allocated €761m for R&D in 2016. This is the third year in a row that funding has increased and represents a 3.2% increase on the 2015 figure of €736m.
The Department of Jobs, Enterprise and Innovation and its Agencies (Science Foundation Ireland, Enterprise Ireland and IDA Ireland) were responsible for over half of all Government R&D investment in 2015 at €391m or 53.1%.
The report 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 2014, the Gross Expenditure on R&D (GERD) by all sectors of the Irish economy was €2.9 billion. The highest expenditure on R&D continues to be within the business sector which accounted for €2.1 billion of total GERD.
Minister for Training & Skills, John Halligan said: “Ireland’s future economic growth and prosperity will depend in very large measure on our continued investment in Research, Development and Innovation. This 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 increasing overall levels of public investment in this area, 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.”