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New record: Flanders invested EUR 7.9 billion in R&D in 2018

According to research institute ECOOM, Flanders spent EUR 7.9 billion on research and development in 2018. This is in line with the region’s ambition to spend 3% of its gross domestic product on R&D.

Graph the region of Flanders invest almost 3% of its gross domestic product in R&D

Ever-increasing R&D investments

Since 2007, the R&D investment percentage has been increasing in Flanders. At that time, this figure stood at 1.92%, and in 2018, it climbed to 2.92% or EUR 7.9 billion. ECOOM makes a distinction between financing by companies and financing by the government. For Flanders, 70%, or EUR 5.5 billion, comes from the private sector. The rest comes mainly from universities and research institutes.

Crossing the 3% threshold

Although Flanders is doing well, Minister of Science Policy and Innovation Hilde Crevits wants to aim even higher. “Innovation will become even more important in the coming years. To that end, we will be freeing up an additional EUR 250 million for R&D subsidies and we will also be spending an extra EUR 195 million on R&D infrastructure. With these steps, we finally want to exceed the 3% threshold,” she says.

More info

EWI
Reported by
De Tijd newspaper
30 July 2020

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