Photo: Johann Steininger
Austria’s R&D spending in 2016 will increase to € 10.74 billion – an increase of 2.9 percent according to Statistik Austria. The R&D quota will once more be over three percent, thus distinctly higher than the EU-average of two percent.
“Austria has the third-highest R&D quota of all EU countries. We have overtaken Germany and Denmark and are on the right track,” said Reinhold Mitterlehner, Austrian Vice Chancellor and Federal Minister of Science, Research and Economy. “Innovation is our foresight for the future and secures jobs. Therefore, the Austrian R&D sector must be one of the best in the EU,” Mitterlehner stressed in regard to the prognosis by Statistik Austria.
Approximately 48% of R&D spending is done by Austrian businesses. This sum has increased by 4.6% to approximately € 5.2 billion. About 36% will be financed by the public sector. The federal government is one of the largest sources of financing, providing € 3.24 billion. The ratio between private and public R&D spending has further improved (64 vs 36%). This development aligns with the goal, set by the FTI strategy, of achieving at least a 66-33% ratio.
Translated from a press release by the Ministry of Science, Research and Economy.