The 2023 edition of the EU’s R&D investment scoreboard showed that Europe’s companies managed to remain resilient.
Data released by Brussels today (14 December) shows that 2022 was a positive year for R&D investment growth in the EU.
The 2023 edition of the EU Industrial R&D Investment Scoreboard revealed that EU companies were able to grow investment unlike many of their Chinese and US counterparts.
The EU’s private R&D investment growth has reached the highest rate since 2015 and more than doubled compared to 2021, with a 13.6pc enhance in 2022.
US businesses’ investment dropped from 16pc to 12.6pc, while China’s growth slowed from over 25pc to just over 16pc.
“Despite challenging times, European industry is steadily increasing its investment in research and development across a broad range of sectors,” said Iliana Ivanova, commissioner for innovation, research, culture, education and youth. “This is very encouraging. Investment in research and innovation is key for Europe’s success in the global tech race.”
The 2023 edition of the EU’s R&D investment scoreboard showed that Europe’s companies managed to remain resilient. Every year, the scoreboard is based on the latest published audited accounts of the world’s top 2,500 R&D investors. These companies are headquartered in 42 countries around the world.
Of the 2,500 top investors, the EU accounts for 367 – and these corporate players are headquartered across 17 countries. Half of the companies are in Germany, France and the Netherlands, concentrating 73pc of private R&D investment in the EU.
The US may have experienced investment curtailments in 2022, but its companies are responsible for more than 42pc of the overall R&D investment of the largest 2,500 corporate R&D investors globally.
The EU’s share, by contrast is 17.5pc, while China’s is at 17.8pc. The US continues to guide in biotech and pharma investment R&D, although the EU’s pharma investment is growing. The EU leads R&D investment in the automotive sector globally, as well as in clean transport tech and green high-value patenting.
Separately, a report from earlier this year published by Dealroom, Lakestar and Walden Catalyst Ventures, claimed that European deep-tech start-ups raised $17.7bn in 2022 – which was considered a positive performance.
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