Austria Climbs the Innovation-Indicator

bridges vol. 31, October 2011 / Noteworthy Information

On October 14, the Berlin-based “Deutsche Telekom Stiftung” published its biannual Innovation-Index. The Indicator analyses strengths and weaknesses from 26 industrialized nations (including the US and the BRIC states). Despite the financial and economic crisis, which has burdened economies over the last years, enterprises and national governments didn’t stop their investments in innovation and technology.

Austria, especially, after floating around the 14th place since 2000, improved to 8th place, which puts the country ahead of the US. The Indicator notes that “Austria has, as perhaps no other country in the EU, taken the so-called Barcelona Target seriously, namely to increase the overall expenditures for research and development to three percent of GDP. Through continuously raising spending while also introducing aggressive innovation policy and measures like, e.g., a generous tax rebate for R&D promotion, the R&D rate of 1.8 percent in 1998 was increased to 2.8 percent in the year 2010. At the same time, Austrian industry was able to clearly increase its innovation output.”

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