Kocher: Entrepreneurial research creates high added value

2023-04-21 09:11:21

50 percent of the research expenditure of Austrian companies

Wien (OTS/BMAW) – Statistics Austria published its global estimate of Austrian research expenditure today. Research and development expenditure in Austria is estimated at 15.5 billion euros for 2023. Measured against the nominal gross domestic product, this results in a research quota of 3.22 percent. The research quota thus remains high and shows a slight increase compared to the previous year (3.20 percent). In terms of research expenditure, Austria is among the international leaders. In concrete terms, Austria has the third-highest research quota in an EU comparison.

“Research and development are groundbreaking for the future of our site and are of particular importance for the ongoing and upcoming transformation. The global estimate shows that Austria is a leading player in the global research and development landscape. We are on the right track and must continue investing in research and development in order to further strengthen our competitiveness and maintain our prosperity. Entrepreneurial research is an important mainstay that needs to be promoted in the near future. In order to achieve this goal, the transformation offensive, which is investing around 300 million euros in research, is the future-oriented measure at the right time. Openness to technology and research excellence are key principles here,” said Minister of Labor and Economics Kocher.

In the field of research and development, there is a great deal of commitment and high investment by companies. Around 50 percent of the research investments come from Austrian companies (specifically 7.8 billion euros). The research bonus, which accounts for more than one billion euros, also plays a significant role in attracting the location. Another 17 percent or 2.6 billion euros come from abroad, primarily from companies whose subsidiaries conduct research and development in Austria. This means that around two thirds of research expenditure falls on the private sector and research-active companies. Another 33.6 percent or 5.1 billion euros come from the public sector – according to the global estimate. “The Federal Ministry of Labor and Economics has also intensified its research funding. The funds for 2023 will increase by more than 60 percent compared to 2022. The transformation offensive is central here, with a focus on key areas such as automotive, microelectronics and life sciences,” says Kocher.