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Business innovation spend over E3.6bn

Friday, August 08 12:30:48

Despite the economic situation, total spending on innovation activities in industry and certain services sectors topped E3.6bn in 2012 compared to E2.5bn two years' before, latest CSO figures show.

The main driver for this increase was the increase in the spend on in-house Research and Development (R and D), from E1.25bn in 2010 to E1.86bn in 2012 and the increase in the expenditure on acquisition of machinery from E603m to E922m.

The value of purchases of external R and D in 2012 was E525m which accounted for 14pc of expenditure, while the acquisition of external knowledge at E237m represented 6pc.

The value of all other innovation activities, E109m, accounted for 3pc of all expenditure, the CSO said.

The total spend of E3.6bn by enterprises on innovation activities was split evenly between the industrial and selected services sectors, at E1.8bn each.

Industrial enterprises spent E742m on in-house R and D, E545m on machinery, equipment and software, E367m on external R&D and E141m on acquisition of external knowledge, while E48m was spent on all other innovation activities.

The selected services sector enterprises spent E1.1bn on in-house R and D, E376m on machinery and equipment, E158m on external R and D, E96m on acquisition of external knowledge and E61m spent on all other innovation activities.

Irish owned enterprises, which account for 79pc of all relevant enterprises, spent E1.36bn on innovation related activities in 2012, of which E592m was spent on in-house R and D.

Even though foreign owned enterprises only accounted for 21pc of all enterprises, they spent E2.3bn, or 63pc of all innovation-related expenditure including E1.3 bn on in-house R and D.

Over one in three , or 36pc of, enterprises had innovation expenditure in 2012. More than 31pc of all small enterprises, 52pc of medium sized enterprises and 68pc of large enterprises had such expenditure in the period. The largest 50 enterprises with innovation expenditure, who represent less than 1pc of all relevant enterprises, accounted for 60pc of total innovation expenditure.

The figures show that 48pc of industrial enterprises had innovation expenditure compared with 30pc of enterprises in selected services sectors. While 34pc of enterprises in the industrial sector purchased machinery, equipment or software related to innovation activities the corresponding figure selected services sector enterprises was 19pc.

For more visit: www.businessworld.ie