2014 GLOBAL R&d FUNDING FORECAST U s. R&d investment up one percent to $465 billion Historic U s. commitment to research intensity expected to remain firm Economic growth continues to propel Asian R&d spending
and on indications that our leaders in Washington may be able to find common ground on the value of R&d investment.
where increasing research intensity amplifies the investment momentum that strong economic growth provides. In a world where scientific discovery and technology commercialization are truly global,
and researchers alike because of the multiplier effect R&d investment can have, both in economic and cultural terms.
At the current rates of growth and investment China's total funding of R&d is expected to surpass that of the U s. by about 2022.5 Part I:
the combined investments by the U s.,China and Japan will account for more than half of the total.
For 2014, we project declines in defense and aerospace R&d, increases in energy-related research, increases in life science research and development, strong growth in information technology research investment and growth in R&d budgets for chemicals
Key research investment trends around the globe: Given the current, weak economic environment in Europe,
large increases in R&d investments are expected not for the next several years. Emphasis by Southeast Asian countries on economic growth through increased R&d investments is likely to continue through the end of the decade.
Significant R&d investments by western countries in long-range technology platforms like robotics, highperformance computing, social media, software, costeffective energy sources and nanobiotechnology could stimulate rapid industry
-scale economic growth. The research standouts in the Rest of the World: The Rest of the World countries are expected to undergo moderate growth in R&d investment in 2014, with leadership from countries like South korea, Russia and Taiwan.
Most Middle east countries will experience strong GDP growth in 2014, but are constrained by weak R&d infrastructure with exceptions such as Israel and Qatar.
Total investments in R&d (as a percentage of GDP) will stay relatively steady throughout the world in 2014.
R&d investments often are linked closely to GDP and economic outlook. Global R&d investments, according to our analysis, are forecast to increase in 2014 and 2015 albeit at a decreasing rate in 2015.
Other highlights include: Economic and R&d growth in Asian countries have slowed, but R&d investments in this region still outpace the rest of the world.
U s. R&d investment is back on track with modest growth that is expected to continue through 2020.
China continues its unmatched economic growth and double-digit R&d increases. R&d rankings have not changed significantly in the past five years,
While 2013 R&d investment growth was minimal in the U s. and Europe, growth in most Asian countries especially China continued.
Asian R&d investment growth rates are expected to return to their pre-2013 levels in 2014 and 2015.
In 2014, China will continue its two-decade trajectory in R&d investment, consistent with the current Five-Year Plan (FYP 2011 to 2015.
At current rates of R&d investment and economic growth, China could surpass the U s. in total R&d spending by about 2022.
the combined investments by the U s.,China and Japan is more than half of the total.
In the same five years, Asia's share of R&d investments has risen from 33%to nearly 40%,with China rising from 10%to nearly 18%.
and its total R&d investments are now more than 60%those of the U s. The economic and political context in each of these regions suggest these trends are not likely to change in the near term
The growth rate for R&d investments in ROW countries is also low less than 4%expected in 2014.
The low rate of investment in these countries implies priorities other than innovation-based growth, and may also relate to underdeveloped domestic R&d infrastructure and educational capacity.
U s. R&d investment will increase by 1. 0%(after inflation) to $465 billion. National research intensity will remain stable at 2. 8%of GDP.
General acknowledgement that R&d investment has both short-and long-term return to the economy. Concern about maintaining U s. innovation-based competitiveness at a time
and some industries increased their investment, industry investment in R&d as a whole was flat in 2013 due to the slow global economy, continued rationalization of R&d activities in selected industries and the private-sector impact of federal budgets
and sequestration. The sequester-associated reductions in 2013 U s. R&d had pronounced a effect on university research activity, among other areas.
Increased industry investment equates to more R&d activity, which is projected to increase by 3. 8%to more than $330 billion,
the recent dynamics of federal R&d funding, from increases via the American Recovery and Reinvestment Act (ARRA) investments in 2009-2011 to budget reductions in 2012
Battelle and R&d Magazine Industry Continues to Lead U s. R&d Investment Source: Battelle and R&d Magazine 32.0 29.7 31.4 10.8 10.6 11.3 10.3 10.0 5. 5 5. 6 13.4 11.5 12.1 55.3 55.1
the ARRA added about $18 billion of federal investments to baseline funding for academic research.
federal investments in academic R&d declined from 2012 to 2013, resulting in flat funding levels
driven by short-term returns on investment, then the foundations upon which major high-risk scientific discoveries are made will eventually erode.
Southeast asia has become the world's largest region for research investments a trend that is expected to continue through at least the end of the decade.
And major infrastructure investments continue to be made, often with the goal of creating an innovation ecosystem with mechanisms for technology commercialization and industry engagement,
leading to amplified economic returns from research investment. Leading examples include Skolkovo in Russia, Biopolis in Singapore and the Qatar Foundation.
and the prospects seem good for realization of the original policy goals in energy security and environmental protection that stimulated early public investment.
Linkage Between R&d and National Priorities Tepid economic recovery in Europe and the U s. suggests significant increases in R&d investments are unlikely in the next several years.
Emphasis on public deficit and debt reduction will continue, with unpredictable short-term effects on discretionary research investments.
While the historic stability of research intensity in the U s. and Europe suggests dramatic declines in national R&d investments are not likely,
In the U s.,the government tends to seed innovation with investment in basic research and some tax and policy incentives,
This is illustrated by the large proportion of development investment in China versus funding for basic and applied research
and economists have warned that sustained large investments in innovation must be paired with investments in social and environmentalprotection infrastructures.
R&d IN CHINA Summary China has increased its R&d investments by 12%to 20%annually for each of the past 20 years;
As a result, China's investment is now about 61%that of the U s, . and continuing to close.
China's R&d investment is linked to national goals for industrial growth stable domestic evolution to an advanced economy, power projection and international prestige.
Comparison of annual change in national R&d investment www. rdmag. com December 2013 R&dmagazine 15 must be overcome to reach the 2020 innovation-economy target.
China's continued strong economic growth more than three times that of the U s. provides the resources to support its strong R&d investments
Ten years ago, most foreign direct investment was being made in China. Today, China has grown to a point that it is now a foreign direct investor throughout Asia,
And by sometime around 2022, it will exceed likely also the R&d investments of the U s. in absolute terms.
China is expanding its science and technology infrastructure through investments in its academic research institutions, the Chinese Academy of Sciences and its industrial research firms.
In Their Own Words Comment from the Battelle/R&d Magazine Global Researcher Survey The investment that China is making in scientific research
While representing less than 5%of the EU's total forecast R&d investment in 2014 of $351 billion
More U s Europe Like the United states, Europe deploys a portion of R&d investment to Asia. 75%87%25%13%Spent in Asia Europe Spent domestically & non-Asia U s. 18 R&dmagazine
. those in Europe and China are expected to see moderate growth in their R&d investments in 2014,
but social and political priorities draw investment away from R&d. India's projected rate of R&d funding growth in 2014 is only one-fifth that of its anticipated economic growth.
and South korea's rate of R&d investment shows in publication volume and quality. Source: Battelle/R&d Magazine Source:
The Role of Ecosystems R&d funding is only one ingredient for innovation-based economic success Research and development is a long-term investment in the future,
the big payoff from investments in R&d are sustained longer-term economic gains through strengthened global competitiveness and even creation of entire new industries.
R&d investments are the foundation for generating new knowledge through basic research and ultimately for generating products and services through applied research and commercialization.
Key features of any successful ecosystem regardless of location include LARGE INVESTMENTS IN HUMAN CAPITAL:
All levels of funding are encouraged, from small-scale grants for early stage proof-of-concept research to largescale commercially focused equity investment.
Absence of one or more of the key components substantially hinders an ecosystem's ability to provide returns on investment
The results from industry executives who track return on investment is one of a generally improving bottom-line impact of research and development activities,
we asked U s. industry representatives to provide context on key factors in their R&d investment plans.
Their answers were mixed regarding future R&d investment: 45%were more pessimistic about the sufficiency of their R&d budgets,
and ROI. 64%of life science firms now calculate ROI against research investments a higher level than industry at large, where only 48%attempt these complicated calculations.
Origins & Priorities for Innovation The survey also explored the link between R&d investment and technology development.
Battelle/R&d Magazine, Schonfeld & Associates, European commission-JRC/EIRI Corporate leaders in life science R&d investment 24 R&dmagazine December 2013 www. rdmag. com
Factors Driving R&d Investment While it might be said that Moore's Law is driving the relentless investment in semiconductor R&d
it is consumer demand for functionality driving R&d investments in other sectors of the ICT industry.
exceeding US$10 billion in 2012 R&d investment, and Google's and Intel's R&d investments growing by 40%and 27%,respectively, in each of the last two years.
The innovation-and R&dintensive nature of the global ICT industry is evident with all of the U s
%Corporate leaders in ICT R&d investment Nokia Ericsson Canon Huawei Alcatel Lucent Microsoft Intel Cisco IBM Google-10%0%10%20
However, ADS firms'internal R&d investments are often 2014 GLOBAL R&d FUNDING FORECAST strongly aligned with the direction and substance of these contract R&d efforts.
and into the future. 69%of our ADS industry respondents believe their 2014 R&d budget is likely to be affected by reduced U s. federal R&d investments.
with more funds and a larger share of investment during major jet liner development. With the combination of reductions in defense spending,
Factors Driving R&d Investment Unlike other industries examined in this forecast, concern over federal budgets and spending is a significant factor in U s. ADS company R&d investment.
Reflecting these concerns 56%of ADS respondents are more pessimistic about their 2014 budgets. Cost cutting and budget reductions in recent years appear to be taking a toll on R&d investment and functions in the industry.
Approximately 40%of the respondents believe their R&d staff budgets are not large enough to accomplish their goals.
growth in commercial aviation and nontraditional defense and homeland security technologies, such as UAVS, will continue to provide momentum in ADS R&d investment.
and materials development and advanced materials integration are increasingly important in shaping the industry's R&d investment.
R&d Investment R&d activities into new production technologies have led to the ability to access previously unobtainable oil
but private early-stage investment has waned. Elsewhere, governments are more active in deployment of alternative energy technology (e g.,
the R&d intensity for most energy leaders is less than 1%.The substantial growth in Petrochina's R&d investment has elevated this firm into the leadership position reaching US$ 2. 3 billion in 2012 with all of the other U s
Factors Driving R&d Investment Like most industries resources to fund R&d activities are connected strongly to industry bottom lines.
-recession, investments in industry R&d also have increased. These investments are tied directly to developing new, market-leading chemicals and materials for
which higher margins can be achieved. The factors driving R&d are distinctly different across different types of firms.
and there is some evidence that support for public R&d investment crosses political boundaries. Even so, the survey results may indicate eroding confidence in the longer-term future.
Despite an unprecedented volume of investment in new technology and in research infrastructure, EU resources that supported WT's innovation-driven upgrading failed to achieve breakthrough results.
stimulate market-oriented R&d and support to business enterprises'investment in new technology. A couple of measures addressed public and social innovation.
One reason why the quantitative expansion of output gradually abated after having been driven by foreign investors'new greenfield investment decisions
however bound to grow at a higher rate than the national average, substantiated by a relatively strong investment activity.
In contrast to a gradually diminishing investment-intensity at the national level, in WT, the indicator of regional investment over regional GDP kept growing over the period between 2010 and 2012:
though lower than what the outstanding share of foreign direct investment would suggest. WT ranks only fourth among the seven Hungarian regions in terms of apparent labour productivity in industry.
Note that the lion's share of R&d investment concerned investment in R&d infrastructure (new laboratories and research facilities, testing equipment,
and modernisation have been driven by efficiencyseeking foreign direct investment in this region. The outstanding value of the indicator of‘Structural Funds on business innovations'benchmarked against EU average suggests a thought-provoking conclusion.
The two key drivers of improved regional innovation performance are EU Structural Funds and foreign direct investment.
and despite an unprecedented volume of investment in new technology and in research infrastructure, EU resources that supported WT's innovation-driven upgrading failed to achieve breakthrough results.
%of total publicly financed investment is financed from EU resources (http://ec. europa. eu/budget/mycountry/HU/index en. cfm) justifies much higher estimated figures with respect to GBAORD
support to start-up and spin-off formation, support to investment in new technology, etc. but the mix of these policy measures will have to undergo some restructuring.
and technology transfer and innovation vouchers at the expense of direct cash transfers that support companies'investment in new technology.
were beneficiaries'1) investment in new technology; 2) R&d activities; 3) development of higher education institutions'infrastructural, organisational and R&d capacities;
A large number of beneficiaries (251) 17 received support from a measure that facilitated business enterprises'investment in new technology:‘
'Another measure directly addressed dental companies'investment in up-to-date technology:‘‘Support to innovation in dentistry'(number of regional beneficiaries:
40). 18 Other measures supported stakeholders'R&d-undertakings (though they included elements that supported investment in new technology and/or research infrastructure:‘
investment in new technology was supported equally by this latter programme(‘Facility Development and Industry Location for Territorial Cohesion'number of regional beneficiaries:
to companies'investment in integrated enterprise information systems and in e-commerce (the number of regional beneficiaries was 147),
Some measures combined investment in new technology and employment increase (Support to complex technology development and employment':
'‘Support to companies'investment in integrated enterprise information systems',‘Support to cluster-based collaboration';‘'‘Support to the creation of start-ups and spinoffs'.
and the Human resources Development OP contains the priority of investment in higher education institutions'infrastructure and human resources development).
and features higher-than-the average concentration foreign direct investment. 20 Over the first decade of economic transformation foreign investment was dominantly efficiency-seeking.
and being beneficiary of several supported projects that fostered investment in AM-specific research infrastructure and collaborative innovation projects,
The former programme contains measures such as‘Collaboration among companies and support to clusters'(the programme supported regional enterprises'joint investment in machinery and equipment
'In the framework of this latter measure support was provided among others to manufacturing enterprises'investment in energy efficiency and investment in new technology.
Two measures are directly related to investment in new technology:‘‘Support to enterprises'complex innovation';'and‘Support to SMES'use of innovative results'.
whether the investment projects that have upgraded manufacturing companies'technology and improved energy efficiency would have been implemented anyway (without support),
Additionally, company representatives deliver courses at the university and finance investments in the university's research infrastructure.
Nevertheless, in most cases and not only in WT, the new infrastructure has been designated to serve selected industrial companies'specific needs hence these companies'investment in research infrastructure has been financed, indirectly, from EU funds.
If universities'investment had ensured thereby long-term research collaboration with industrial partners and guaranteed a sustained source of income to fund the new equipment related research undertakings of both students
Return on investment was considered not pricing issues (of the use of the new 24 There is a huge academic literature about the economics of incomplete contracts that leave contracting parties rights
Sooner or later new investments were necessary with respect to the newly purchased equipment (upgrading of the related software, maintenance,
claiming that project selection neglected the issue of return on investment. The measures that supported‘university/public research organisation and industry'-collaboration were considered effective.
The evaluation of the programmes that supported SMES'complex innovation undertakings National Development Agency, 2013: 37-44) revealed that more than half of the supported projects targeted companies'investment in technology development.
investment in research infrastructure; and investment in higher education institutions-based R&d. The key messages of the report were as follows.
Between 2007 and August, 2012, the total amount of support allocated to higher education institutions was HUF250B (€0. 9b.
Most of the resources have been spent on tangible investment in infrastructural and research facilities, which can be explained by the fact that these activities produce easy-to-measure indicators.
The report recommended that future cluster policies should focus on established successful and innovative clusters (in particular, on members'joint investment projects and 34 Regional Innovation Monitor Plus on other collaborative projects
'2)‘ Support to investment in integrated enterprise system and e-commerce'.'Both measures were part of the Enterprise Development Programme,
Regional Innovation Monitor Plus 35 Complementary to tangible investment in new technology, another measure(‘Support to companies'complex technological innovation'within the Science and Innovation Programme) supported
Over a period of three years (between 2011 and 2013) the company gained support from three additional calls facilitating investment in new technology, development of human resources and development of new services based on new technology.
since most of the support allocated in the framework of other programmes targeted either R&d activities or companies'investment in new technology.
In addition to the traditional policy instruments, such as direct support to enterprises'R&d and technology development initiatives, to universities'investment in research infrastructure, to collaborative projects etc. more emphasis is going to be laid on the establishment of competence centres Improvement
supplier development (support to indigenous companies'investment in new technology to make them capable to become multinational subsidiaries'suppliers)
On the one hand, the institutional instability that characterises the regional and the national innovation systems effectively curtails long-term investments in linkages building.
or investments in new technology and take on the related administrative burden and the strict requirements of support.
Moreover, there will be a higher chance that public support crowds out private investment, since only actors who would have implemented the planned investment in technology upgrading
or in R&d even without support, would submit applications for support. Regional Innovation Monitor Plus 39 Appendix A Bibliography 1. Angster, T,
Direct Investment 77 7. Entrepreneurship 85 7 1 Progressing the National Policy Statement on Entrepreneurship 85 7. 2 The Startup Gathering 5 Days 5 Cities 5 Industries 90 8. Competitiveness 94 8
. 1 Easier to do Business 95 8. 2 Institutionalising the Drive for Competitiveness 98 8. 3 Infrastructure Investment to Underpin Employment Growth 99 8. 4
winning more foreign direct investment, encouraging more Irish entrepreneurs to take the leap, improving SME access to finance,
To get Ireland back to a top-five ranking in international competitiveness 1st in the world for inward investment by quality
and value investment € 1st in the world for investment incentives investment € 1st in the world for availability of skilled labour labour 2nd in the Eurozone for ease of doing business business Overall,
Indigenous exports and foreign direct investment are at all-time record levels. Our competitiveness ranking internationally has climbed to 15th1.
and property solutions to attract investment. Europe's Energy Innovation Hub As part of this reform we will provide a one-stop shop to position Ireland at the forefront of innovation
and attracting mobile investment in energy related research, management services, technologies and solutions, and drive energy efficiency in the public and private sectors to improve competitiveness.
investment, entrepreneurship and exports for Ireland. In 2015, Enterprise Ireland will target the creation of 13,000 gross new full-time jobs in client firms.
IDA Ireland will target the winning of 160 new investment projects for Ireland and EI will target 5 FDI food projects.
and achieving the ambitious targets under Food Harvest 2020 (FH2020) for farm level investment and in food processing will impact directly on employment prospects in rural areas
EI will support 28 significant food industry investments, including five from foreign multinationals. The Food Competitiveness Fund will help to improve productivity and employment in the food processing sector.
We will continue our €245 million programme of investment with industry in SFI Research Centres throughout the country.
but there is an encouraging shift in the make up for new investments. In 2015, efforts will continue to reinforce measures already introduced
and investment and access to talent. All agencies and departments have set out actions to contribute to the key indicators as part of this Action Plan for Jobs.
investment and growth in domestic sectors of the economy to help in addressing the employment challenge,
Foreign Direct Investment was buoyant in 2014 with IDA Ireland securing 197 investments and reporting a net increase in employment in client firms of 7, 131.
IDA Ireland figures indicate that 45 per cent of the investments came from companies investing in Ireland for the first time,
as Ireland's value proposition continues to resonate with new investors. The Government Policy Statement on FDI published in 2014 is designed to ensure that Ireland's inward investment offering continues to be attractive and competitive.
The long-term trend of declining sub-supply purchases in the economy by foreign subsidiaries has been reversed
Enterprise Agency Strategic Ambition Enterprise Ireland and IDA Ireland are embarking on new strategic drives to support enterprise and investment in the economy over the coming years.
and long term economic and job growth. 18 Foreign Direct Investment (FDI) has been, and will continue to be, an integral part of Ireland's economic development strategy.
Ireland's success in attracting foreign direct investment requires a focus on national competitiveness. Targeting of specific growth sectors
A number of structural weaknesses remain that we will continue to address as part of the Action Plan process including diversifying our export base and destination markets and sources of inward investment,
Similarly, IDA is making good progress on diversifying source markets for investment securing 20 per cent of new greenfield investments from high-growth and emerging markets in 2014.
Win 160 new FDI investment projects together with five food FDI projects; and New targets as part of IDA 2019 Strategy.
Support 28 significant food and drink industry investments, five of which will be FDI projects; Introduce a new Graduate Development Programme with a target of 10 graduates into the Food SME sector;
for example enhancing the weak growth levels in net capital stock particularly with regard to investment in machinery and equipment.
both in terms of the level of investment and the human resources engaged in RD&I activity. Business expenditure on RD&I and the number of indigenous and overseas firms that are RD&I active has continued to increase since 2011.
Given the ongoing programme of budget consolidation, sustained under-investment in infrastructure has the potential to act as a limiting factor with regard to future productivity growth.
while Ireland has made significant investment in infrastructure in recent years, further investment is required to ensure that our critical infrastructure can support economic recovery and enterprise growth.
The World Economic Forum Competitiveness Report finds that Ireland ranks 28th in terms of transport infrastructure. Without appropriate investment in transport infrastructure and service deficits, this congestion will erode our competitiveness,
negatively impacting on quality of life and reduce the attractiveness of our cities with regard to foreign direct investment.
In other key infrastructure areas such as next generation broadband significant commercial investment is now taking place,
and further investment is planned in the provision of high speed fixed line and mobile broadband services.
The Government has committed to a fibre based intervention to address areas where there is no commercial case for investment.
Selected Targets for 2015: 6 European commission Innovation Union Scoreboard 2013 2015 ACTION PLAN FOR JOBS 25 A tender for the delivery of high speed broadband to all
and investment and that there are a series of upward cost pressures emerging. Particular focus is required to address domestically influenced cost factors in the labour market
Credit and Investment for Growth Limited funding flows in an economy damage the environment for entrepreneurship
which would have inhibited investment and growth. However, through strong support mechanisms now being offered at local level by the LEO network and centrally by Enterprise Ireland for the domestic SME sector
Public investment in education and training since the 1960s has had a major impact on Ireland's social and economic development.
Action Plan for Jobs 2015 will see continued emphasis on the importance of skill levels as a key element of Ireland's competitive position in terms of global investment and trade.
and investment in education and training, raising their skills profile, productivity and attractiveness to international investors.
For this reason, maintaining a strong level of investment to support highquality outcomes in terms of skills will be critical to maintaining Ireland's international competitiveness.
Direct engagement with the diaspora from a local level also has the potential to open up local investment and job opportunities.
Údarás na Gaeltachta will continue a programme aimed at increasing investment in Gaeltacht areas. The Report of the Commission on the Economic Development of Rural areas (CEDRA) was published in 2014.
to help to support the attraction/embedding of Foreign Direct Investment in those locations. IDA) 45 Continue to work to attract Foreign Direct Investment in areas outside of Dublin and Cork.
IDA) 46 Growing on the successful strategy of providing property solutions in regional locations, continue a building
and refurbishment programme to help to support the attraction/expansion of Foreign Direct & Indigenous Investment in regional/rural locations in the Gaeltacht.
and investment to Ireland in terms of sustainable energy supply chain opportunities. Our current areas of success include:
as it focuses on how energy policy can facilitate increased investment, innovation, job creation and economic development without acting as a barrier to these important factors for the economic and social recoveries prioritised by the Government.
stimulate increased investment in growth, and generate additional employment opportunities. The SBCI's new forms of credit will give SMES a greater capacity and, indeed incentive,
to make investments on the basis of cash flow that is more tailored and customised to their business needs.
and ICO (the Spanish State Investment Bank) to support the financing of their respective SME sectors.
The European Investment Bank (EIB; Kreditanstalt fur Wiederaufbau (Kfw; and The National Pension Reserve fund (ISIF.
The SBCI and the newly established Irish Strategic Investment Fund (ISIF) will, in relation to SME financing, operate as enabling institutions,
Furthermore, both of these key financing institutions have the potential to leverage additional private sector investment into the economy,
Put in place a‘Knowledge Development Box'income-based tax regime for intangible assets Knowledge Based Capital Increasing the level of investment in knowledge-based capital will be an important source of enterprise growth and competitiveness
which have existed for many years in countries that compete with us for foreign direct investment
This intellectual property offering will be a key element in attracting future foreign direct investment to Ireland.
A number of significant initiatives and investments were progressed in 2013 and 2014 in partnership with the enterprise sector
In particular Ireland has developed a world class research capability through investments in INSIGHT and Ceadar, and in 2014 the Government launched the Open Data Portal to act as the primary source of public sector datasets.
Ringfence €4 million in 2015 to secure increased inward investment and export growth in high growth and emerging markets.
for exports and inward investment. The increased investment through IDA Ireland in overseas offices is targeting the creation of an additional 10,000 new jobs (6, 000 direct and 4, 000 indirect) over 5 years through an investment programme
which will see the provision of additional resources to IDA Ireland to be deployed overseas including in emerging markets,
tourism and investment and implement Local Market Plans in priority markets and to undertake targeted initiatives in sectors including international education services, engineering services, cultural services,
and design. 2015 Actions Winning Abroad 96 Ringfence €4 million in additional funding in 2015 to secure increased inward investment and export growth in high growth and emerging
In addition LEOS have delivered a very successful competition to find Ireland's Best Young Entrepreneur which gave rise to over 1, 000 applications for investment in new business projects from people under 30 years of age.
Transitioning of the NPRF into the Ireland Strategic Investment Fund (ISIF; and The roll out of a National Information Campaign on Late Payments.
Furthermore both of these key financing institutions have the potential to leverage additional private sector investment into the economy,
and platforms being developed by the SBCI and the Ireland Strategic Investment Fund (ISIF) in conjunction with Enterprise Ireland.
DJEI) 4. 3 Engagement with International Funding Institutions Multilateral Development and National Promotional Banks Since 2012 there has been an emphasis on increasing our engagement across Government with both the European Investment Bank (EIB)
and the European Investment Fund (EIF) in developing and implementing mechanisms designed to maximise the provision of financing to SMES.
Similarly, building on its positive relationship with the German state investment bank Kfw, the SBCI will also continue to explore the potential for cooperation with other National Promotional Banks in seeking to enhance the funding environment for SMES in Ireland.
there is a need to encourage firms away from the current high level of reliance on debt financing towards a greater use of equity to fund investment.
and increasing the range of companies prepared to utilise it to finance investment. Indeed, the ESRI indicates that there are opportunities to expand the use of equity financing by the more domestically orientated cohort of Irish SMES.
and Investment Scheme (EII) and the Seed Capital Scheme (SCS) that are designed to increase the usage of these funding mechanisms for SMES.
Investment in the management and operation of nursing homes, medium-sized enterprises in non-assisted areas,
and will target investment in the wider information and communications technologies and life sciences sectors of the economy.
ISIF) 118 Enterprise Ireland to work with the European Investment Fund to progress the establishment of a European Angel Fund in Ireland.
EI) 2015 ACTION PLAN FOR JOBS 69 119 The Department of Finance to work with the relevant stakeholders in raising awareness of the EII Scheme and promoting it as vehicle for channelling investment to grow enterprises and support employment.
For investment approximately 6. 1 per cent of firms used trade credit and it accounted for just over 58 per cent of total funds when used9.
Direct Investment From the onset, the Action Plan for Jobs has pursued an export-led approach to dealing with the jobs crisis
IDA Ireland, The irish Government agency responsible for attracting foreign direct investment, has reported the creation of 15,012 new jobs by IDA client companies during 2014.
and embed foreign direct investment here or our actions to strengthen and promote our world-class export base,
and Trade, oversees implementation of the Government Trade, Tourism and Investment Strategy (a Review of which was published in February 2014)
investment and education. 78 It reviews Local Market Plans which are produced annually for each of our 27 priority markets.
These Embassies and Consulates will provide a platform for further promotion of Irish exports, investment, tourism and education.
investment and people in order to deliver on Government's ambition to have 2. 1 million people in employment in 2018
including sectoral effects, of a potential Transatlantic Trade and Investment Agreement (TTIP. Ireland's enterprise policy will continue to be informed by independent and robust evaluations (ex-ante,
Continue to implement the Government Trade, Tourism and Investment Strategy, the Africa Strategy and develop Strategies on Global Sourcing and Business Process Outsourcing;
Publish a new IDA Ireland Strategy to grow foreign direct investment over the next 5 years;
and impacts, including sectoral effects of a potential Transatlantic Trade and Investment Agreement. DJEI) 138 Potential Exporters:
EI) 139 Implement the Review of the Government Trade, Tourism and Investment Strategy, published in February 2014.
and use such initiatives as the Africa Ireland Economic Forum to identify new opportunities for investment
investment and education events focused on key target markets, including exploratory and high potential markets as defined under the Review of the Trade, Tourism and Investment Strategy.
A substantial number of these missions and related events will be led at Ministerial level. DFAT, DJEI with relevant Departments and agencies) 80 145 Enterprise Ireland to develop a series of collaborative initiatives to drive exports and investment in priority markets in partnership with IDA Ireland, Bord
Bia, Science Foundation Ireland and the Department of Foreign affairs and Trade. EI, DJEI, DFAT) 146 Implement a targeted programme to attract senior level key Inward Buyer Visits from key companies to match Irish supply capability in key sectors.
IDA) 149 Roll out the delivery of Winning Abroad (see earlier section 3. 4).(IDA) 150 Work to win another 160 new FDI investment projects in 2015.
IDA) 151 Continue to win investments from High Growth and Emerging Markets together with new forms of FDI, the focus
and report on recommendations to increase foreign and domestic investment in Ireland's film and TV sound stage studio infrastructure-and thereby increasing jobs-in the face of growing demand for audiovisual content across multiple platforms.
including through the regular updating of key messages on Ireland's economic progress and trade, tourism and investment strengths and their communication by Ireland's Embassy Network.
and Develop an action programme of support for pre-investment HPSUS. 2015 Actions Culture, Human Capital and Education 178 Broaden
so as to support innovation, entrepreneurship and attract mobile investment. EI/IDA) 196 Examine the Advisory Group on Small Business (AGSB) recommendations from December 2014
EI) 199 Develop an action programme of support for pre-investment HPSUS. EI) 200 Develop an action programme of support for scaling post-investment HPSUS.
EI) 201 Promote Ireland internationally as a startup location and attract 15 new overseas startups to establish their business here.
investment in infrastructure to underpin economic growth, enhancing firm level productivity, decreasing the costs of doing business,
and does not necessarily require investment. In fact, streamlining administrative process for businesses can simultaneously reduce overheads for public bodies
NCC) 8. 3 Infrastructure Investment to Underpin Employment Growth The NCC assessment is that our infrastructure still lags other countries
The NCC highlight in particular the importance of investment in telecommunications, transport, energy and waste management.
This investment will be across government, in support of social and economic infrastructure that will support direct employment through construction related activity,
Investment Area € million Agriculture, Food & the Marine 198 Arts, Heritage & the Gaeltacht 62 Children & Youth Affairs 35 Communications, Energy & Natural resources 89
Investment in 2015 €3, 619 million Great Place to Live and Work Such investment in capital projects can have an immediate employment impact by way of jobs in the construction sector and related activity,
as well as supporting the longer term competitiveness of the economy. In addition, much of this capital spend will help make Ireland a better place in
The investment will also support the provision of enhanced or replacement facilities for 2, 000 primary school students and 4,
minor investment to increase capacity to address congestion in our cities, most notably LUAS Cross City in Dublin and other low-cost public and sustainable transport improvements,
and seek to maintain the competitiveness gains made through past investment. Invest €42 million in Sport,
which includes the development of a permanent exhibition space and interpretative centre at the GPO, the development of visitor facilities at Teach an Phiarsaigh, Ros Muc and other investments as part of the Ireland 2016 programme,
tackling barriers to investment in high growth sectors is vital to support real and sustainable productivity growth leading to increased employment. 102 The ramping up of world trade as we emerge from the global economic crisis presents the potential for Ireland
for example enhancing the weak growth levels in net capital stock particularly with regard to investment in machinery and equipment.
This Framework is aimed at developing robust projects that are investment-ready, stimulating the development of a market for Energy Services Companies (ESCOS) and supporting sustainable employment in construction and professional services.
The key aim of the Framework is to encourage the development of robust projects which are investment-ready for financing entities (such as the National Energy efficiency Fund.
not least the public sector. The Fund is established with investment from the Government, Glen Dimplex and London and Regional Properties.
and have helped to increase RD&I activity and investment. Research prioritisation has aligned publicly funded research around 14 priority areas that are most likely to deliver economic and societal returns.
and international) to maximise return on investment and to optimise success under EU Framework programmes,(d) facilitating the translation of knowledge and the transfer of technology into jobs.
Based on national investment in research in recent years, Ireland is participating in EU Programmes from a far stronger position than ever before. 110 A critical mass of research activity has developed in both the public and private sectors
Enterprise Ireland will support 825 Industry-Led Collaborative research projects and 12 major food and drink innovation investments.
these important firms will be supported over the next twelve months in a variety of ways ranging from direct investment,
and industry leaders, with assistance from state enterprise agencies, have made strategic capital and capability investments in growth areas such as dairy,
In the dairy and whiskey industries alone, investment plans of up to €600 million are being pursued actively by industry leaders,
significant support for on farm capital investment; a range of knowledge transfer measures; support for collaborative farming;
which is a clear statement of the Government's commitment to continued investment in rural Ireland. 2015 Actions Agri-food 295 Enterprise Ireland to support 28 significant food and drink industry investments, five
and Investment Missions to boost exports to priority markets and attract additional inward investment. DAFM and EI) 299 Implement the new Seafood Development Programme 2014-2020 (EMFF.
DAFM) 300 Attract graduate talent into the sector through the Bord Bia Marketing Fellowship and Strategic Growth Programme to improve export sales.
and will aim to promote investment, jobs and growth in the sector. Specific details and updates on the implementation of HOOW are provided on www. ouroceanwealth
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and 126 An examination of and report on the availability of development finance-the Ireland Strategic Investment Fund (ISIF) under the auspices of the NTMA is exploring ways, through its commercial mandate,
and interpretative centre at the GPO, the development of visitor facilities at Teach an Phiarsaigh, Ros Muc and other investments as part of the Ireland 2016 Programme.
and encourage investment in design by businesses in order to increase competitiveness; and Leave a legacy to build on these aims over the longer term.
and encourage investment and collaboration in the design sector. Create a startup investment platform for creative industry entrepreneurs,
aimed at accelerating some of the country's most promising designers from a range of design disciplines. 132 Support a series of cross-sectoral collaborations leading to new product development
Undertake sectoral and targeted trade and investment missions in alignment with Enterprise Ireland's programme of events.
and investment missions and supported through an International Trade Fund to assist Irish designers and makers in accessing international markets.
and Education initiatives including design hubs, design networks, startup and investment platforms, cross-sectoral collaborations, design challenges and funded design development programmes.
DCCOI, ID2015, DJEI) 348 Devise a strategy to ensure longer-term development of the design sector and business investment in design as part of the legacy of ID2015.
the findings of EI and IDA's engagement with manufacturing firms to assess the need for public investment in research infrastructure
in order to encourage greater investment in the sector in Ireland. The opportunity will also be taken to explore the potential for the development of new employment opportunities in the Green Economy at regional level as part of the development of Regional Enterprise Strategies.
and appropriate tools to communicate the performance of Ireland's Green Economy to global audiences more effectively to encourage greater investment in the sector in Ireland.
IDA, EI, SFI) 365 In response to continued growth in biopharmaceutical manufacturing investment, there will be a continued focus on this skill area in Springboard 2015,
Provide €4m in additional funding for high growth and emerging markets Win 160 new FDI investment New targets as part of
Direct Investment 8. 2-Easier To do Business 11-New Sources of Growth 1. 2 Increase in proportion of exports to high growth economies Exports
Tourism to 250,000 by 2025 Support 28 significant food and drink industry investments, five of which will be FDI projects Introduce a new Graduate Development Programme with a target of 10 graduates into the Food SME sector Construct new social housing units Intake
and lifelong learning 7. 9%of adults engaged 8. 2%of adults engaged 3. 7 In-company investment in training and education €132 million €149 million 146 3
Horizon 2020 in 2015 Number of firms with RD&I investment>€100, 000 (1, 016) of indigenous and MNC (2017) Number of firms with RD&I investment>€2
Enhances the availability of funding mechanisms for SMES Objective Baseline (2011) Current Performance 2015 Targets Relevant APJ Sections 10.1 Increase in investment by enterprises Q1-Q3
2011 Manufacturing Capital Investment €1. 06bn Q1-Q3 2014 Manufacturing Capital Investment €2. 8bn(+163%)To demonstrate the Online Tool at 10 events nationwide
2012) 119 (Q3 2014) 10.7 Goods Vehicles Investments Goods vehicles registrations 2011: 17 415 Goods vehicles registrations 2014: 25,328(+45%)156 Glossary of Terms ADCS Antibody Drug Conjugates AIB Allied irish banks ARV Annual rates on Valuation BIM
Group on Future Skills Needs 2015 ACTION PLAN FOR JOBS 157 EI Enterprise Ireland EIB European Investment Bank EIF European Investment Fund
EII Employment and Investment Incentive scheme EMFF European Maritime and Fisheries Fund EPA Environmental Protection Agency EPC Energy Performance Contracting ESRI Economic and
Direct Investment FET Further Education and Training FH2020 Food Harvest 2020 GEDI Global Entrepreneurship Development Index GEM Global Entrepreneurship Monitor GDP
Irish Strategic Investment Fund ISME Irish Small and Medium Enterprises Association ISO International organisation for Standardisation ITI Intertradeireland Kfw Kreditanstalt fur Wiederaufbau KPI
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