Competition from China and the USA: Research needs “long-term financing”

With a research quota of 3.3 percent – that is the share of research and development expenditure in gross domestic product (GDP) – Austria is among the European leaders. Countries such as Belgium and Sweden are ahead of Austria, but one should take Finland as a model: there, it has been legally stipulated that four percent of GDP must be spent on research and development by 2030.

Heinz Faßmann (President of the Austrian Academy of Sciences), Brigitte Bach (Spokesperson for the Management of the Austrian Institute of Technology) and the Secretary General of the Federation of Austrian Industries (IV), Christoph Neumayer, came to this conclusion at a joint press conference on Friday.

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