R&D investment reached more than €750m this year
16 October 2018
The latest figures on government investment in R&D show that more than €750 million is estimated to have been invested in the sector in 2018.
The data in the ‘Research and Development Budget 2017-2018’ publication is compiled from a comprehensive survey of 30 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 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 more than half (51.5 per cent) of all government R&D investment in 2017 at €380.6 million.http://www.engineersjournal.ie/2018/10/16/rd-investment-reached-e750m-year/http://www.engineersjournal.ie/wp-content/uploads/2018/10/research-development0.pnghttp://www.engineersjournal.ie/wp-content/uploads/2018/10/research-development0-300x300.pngNewsfunding,government,research