“We are consciously focusing on this. Innovations are decisive for the competitiveness of the business location and also ensure valuable jobs. The further increase of the research quota shows than our measures are having a positive impact, and we rank among the best in European. We have to determinedly move ahead with this positive development. The next important step is the increase in the research premium for our companies to 14%”, says Reinhold Mitterlehner, Federal Minister of Science, Research and Economy.
Corporate sector accounts for largest share of R&D spending
The corporate sector accounts for the biggest share of R&D expenditures. EUR 5.46 billion or 48.2% of total research spending in Austria originate in the private sector, representing a 3% rise from the previous year.
The public sector financed EUR 4.08 billion or 36% of total R&D expenditures in Austria, up 5.2% from the prior-year level. The statisticians said that the “main reason” for the strong increase was the research premium. The rise from 10% to 12% which took effect in 2016 means that about EUR 100 million more in funding was granted to domestic companies. On balance, the total research premium paid to companies in 2017 is expected to amount to EUR 627.7 million.