dutch government supports €8.7 billion investment in R&D for 2023

dutch government supports €8.7 billion investment in R&D for 2023

2024-05-20 community

Dutch companies, backed by the government, invested €8.7 billion in R&D in 2023 to tackle challenges in safety, care, sustainability, and digitalization, significantly reducing labor costs through the WBSO program.

The Impact of WBSO on Dutch Companies

The Research and Development Promotion Act (WBSO) has played a pivotal role in facilitating this substantial investment. By lowering labor costs and other expenses associated with research and development, the WBSO has enabled companies to allocate more resources towards innovation. As a result, a record investment of €8.7 billion was made in 2023, demonstrating a commitment to advancing technology and addressing critical societal challenges.

Breakdown of Investment

According to the WBSO annual report, the investment comprised €5 billion in labor costs and €3.7 billion in non-wage costs. This marks an increase of nearly €500 million from the previous record set in 2022. The significant rise in investment highlights the growing importance of R&D in maintaining the Netherlands’ competitive edge in the global market.

In 2023, Dutch companies focused on several key technologies, including artificial intelligence (AI), energy materials, hydrogen, semiconductors, and quantum computing. These innovations are crucial not only for economic growth but also for addressing pressing issues such as energy sustainability and healthcare improvements. The WBSO program’s support has been instrumental in advancing these technologies, ensuring that the Netherlands remains at the forefront of global innovation.

Regional Distribution and SMEs

The impact of the WBSO program is widespread, with nearly 94,000 full-time jobs supported by the initiative in 2023. Of the 19,000 companies that benefited from the WBSO, a significant 97% are small and medium-sized enterprises (SMEs). The Greater Amsterdam region hosted the highest number of these companies, followed by Brainport Eindhoven and Utrecht. This regional distribution underscores the program’s broad reach and its critical role in supporting the backbone of the Dutch economy.

Minister Micky Adriaansens’ Perspective

Outgoing Minister Micky Adriaansens (Economic Affairs and Climate) emphasized the necessity of innovation for the country’s future. She stated, ‘Innovation is not a luxury; it is a necessity. We need innovation to earn our living in the future.’ Adriaansens highlighted that while the WBSO has been successful, there is still a need for increased private sector investment in R&D to keep pace with other countries.

Looking Ahead

The Dutch government continues to call on entrepreneurs to leverage the WBSO and other innovation schemes to boost their R&D efforts. The success of the WBSO program in 2023 sets a strong precedent for future investments. As the Netherlands faces ongoing global competition and societal challenges, sustained and increased investment in R&D will be crucial in maintaining its economic strength and innovative capabilities.

Bronnen


WBSO research and development