Business Technology

Wednesday 18 January 2017

Irish R&D far below European targets, dominated by multinationals

Published 19/07/2016 | 11:23

US multinationals are
US multinationals are "deeply concerned"

Irish research and development is significantly below European targets and is being dominated by multinationals, according to a new report from the European Commission.

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Two thirds of all business-related research and development in Ireland is being done by multinational companies, says the Commission’s Research and Innovation Observatory.

Citing figures from 2014, the report says that Irish R&D “intensity” -- expenditure on R&D divided by sales -- is 1.52pc, below official EU targets of 2pc.

The report also says that business expenditure here stands at €2.1bn.

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