Increase in research and development investments despite eurozone crisis
An EU survey on research and development investment trends commissioned by the European Commission has revealed that despite the eurozone crisis many businesses are investing to develop products, processes and services to boost their return and to sustain competitive advantages.
Conducted among a number of EU-based companies which contribute a significant share of investment in research and development, the survey results found that top EU businesses are expecting their investment in R&D to increase annually between 2012 to 2014.
The software and computer services sector is expecting investment in R&D to increase by an average 11 per cent per annum.
Companies surveyed revealed that in-house research and development is considered the most relevant driver of innovation followed by market research and other similar activities for new product introduction.
Companies participating in the survey were also prompted to put forward their views on how the effects of policies and external factors in the EU impact their innovation activities.
The positive effects of fiscal incentives, national grants, EU financial support and public-private partnerships were among the responses were highlighted.
On the other hand, many companies outlined how time considerations in obtaining intellectual property rights protection and the costs involved were the key negative factors.
The willingness of companies to increase research and development investment illustrates the positive effects that research contributes towards maintaining and enhancing competitiveness.
More results from the study are available at http://iri.jrc.es/reports.htm .