Danish companies benefit the most from research funding among the Nordic countries
14 June 2014 - Companies
A new analysis shows that Danish companies achieve the greatest benefit from investments in research and development than those in other Nordic countries. The Minister for Higher Education and Science stresses that companies’ ability to create and innovate helps strengthen our welfare and create job.
Danish companies are among the best in the EU at investing in research and development, from a GDP perspective. Since 2008, Danish companies’ annual investment in R&D translates to at least 2 per cent of Denmark’s GDP – and it is paying off.
A new analysis shows that Danish companies benefit the most from their investments in R&D when compared with companies in other Nordic countries. Danish companies see a 34 per cent return on every extra krone they invest in R&D, while companies in Finland and Norway see a return of 23 per cent and those in Sweden see one of about 16 per cent.
According to the Minister for Higher Education and Science, Sofie Carsten Nielsen, Denmark is reliant on strong companies that contribute significantly to growth and welfare.
“Investing in research and development is investing in growth and prosperity. It leads to new knowledge, which in turn leads to new technology and products, and help ensure jobs and welfare for all of us. Danish companies are doing really well, and also on a Nordic level. My aim is to see Denmark among the top 5 OECD countries for private investment in R&D,” she says.
The analysis examines the business return on investment in R&D during the period 2005-2010. During this time, the Danish companies collectively increased their investment in R&D by 23 per cent.
Read more about the analysis and results in the full press release from the Ministry of Higher Education and Science