Herta Steinkellner develops tobacco plants for the fight against the Ebola.
Research & Development in Austria
Austria research and development (R&D) has taken an enormous leap forward over the past two decades. The increase in the R&D/GDP ratio from 1.53% in 1994 to 3% at present clearly shows the progress made. Accordingly, Austria boasts one of the most dynamic developments in Europe with respect to R&D.
Systematic investments on the part of domestic and international companies in Research Location Austria, for example in biologics, are making a major contribution to this upward trend along with the commitment of the public sector. This is underlined by the broad-based promotion and funding of Austrian research and an innovation-friendly tax system.
Today Austria ranks as one of the few European countries that exceed the declared research policy objective of the EU, namely to achieve a research ratio of 3% of GDP by 2020. Austria has also set even more ambitious targets. The research strategy of the Austrian Government aims to turn Austria into a European innovation leader by the year 2020.
According to the Global Estimate 2016 of Statistics Austria, Austria will increase its spending for research and development to EUR 10.74 billion, comprising an estimated rise of 2.9% (+ EUR 299.34 million) compared to 2015. As a consequence, Austrian research expenditures are only slightly below the predicted nominal 3.65% rise in the gross domestic product. In 2016, Austria’s research spending of 3.07% will exceed a research ratio of 3% - the targeted European level for 2020 – for the third straight year. In European comparison, Austria’s R&D/GDP ratio puts it in third place, surpassed only by Finland and Sweden. In fact, Austria has now overtaken Germany and Denmark.
What specifically can companies in Austria profit from?
Research premium of 12% for companies based in Austria
Business-friendly tax system with low costs
Bundled know-how of international experts
Strong links of the business and scientific communities