wbso drives record €8.7 billion in dutch innovation investments
The WBSO tax relief scheme spurred €8.7 billion in Dutch innovation investments in 2023, a new record, highlighting its continued importance in supporting research and development.
Record-Breaking Investment
The WBSO (Wet Bevordering Speur- en Ontwikkelingswerk) tax relief scheme facilitated a record €8.7 billion in investments in Dutch innovation projects in 2023. This financial injection marks an increase of nearly €500 million compared to the previous record set in 2022. The comprehensive support provided by the WBSO underscores its crucial role in bolstering research and development (R&D) in the Netherlands. The increase is even more significant when viewed against the backdrop of the €1 billion or more increase compared to the years 2019, 2020, and 2021[1][2].
Technological Advancements
A myriad of technologies benefited from the WBSO scheme in 2023, including artificial intelligence (AI), energy materials, hydrogen, semiconductors, and quantum technologies. These fields have seen substantial growth, driven by the need for new solutions to challenges in safety, healthcare, and sustainability. The focus on these advanced technologies aligns with global efforts to enhance digitalization and address critical environmental concerns[3].
Employment Growth
The WBSO scheme’s impact extends beyond financial investments, significantly contributing to employment in the Netherlands. In 2023, the scheme supported nearly 94,000 full-time jobs, up by almost 900 positions from 2022. This job creation is primarily within small and medium-sized enterprises (SMEs), which represent 97% of the nearly 20,000 companies that utilized the WBSO in the past year. The majority of these companies are located in regions such as Greater Amsterdam, Brainport Eindhoven, and Utrecht, indicating a strong regional focus on innovation[1][4].
Government Support and Future Outlook
Minister of Economic Affairs and Climate, Micky Adriaansens, emphasized the necessity of innovation for the Netherlands to remain competitive on the global stage. Despite the robust support from the WBSO, private sector investment in R&D still lags behind other countries. The government’s strategy, including the National Technology Strategy, aims to address this gap by prioritizing public and private investments in innovation. Adriaansens continues to encourage entrepreneurs to leverage the WBSO and other innovation schemes to drive technological advancements and economic growth[5].
Sustained Relevance
As the WBSO enters its 30th year, it remains a pivotal element of the Dutch innovation ecosystem. Unlike other short-lived schemes, the WBSO has proven its enduring value by consistently meeting the high demand for R&D support. The scheme’s ability to adapt, such as indexing the budget for wage and price increases since 2023, ensures its relevance in the evolving economic landscape. The Rijksdienst voor Ondernemend Nederland (RVO), responsible for implementing the WBSO, continues to refine the application process, making it more efficient and accessible for businesses across the Netherlands[1][3][6].