dutch companies invest €8.7 billion in innovation with wbso support
In 2023, Dutch companies invested a record €8.7 billion in innovative technologies, supported by the WBSO, highlighting the program’s vital role in driving national innovation.
Record-Breaking Investments in 2023
In a significant leap for the Dutch economy, companies in the Netherlands invested a record €8.7 billion in new innovative technologies in 2023. This marks an increase of nearly €500 million compared to the previous record set in 2022. The Wet Bevordering Speur- en Ontwikkelingswerk (WBSO) played a crucial role in this achievement by offering financial support that reduced labor costs and other expenses associated with research and development (R&D). The annual report ‘Focus on Research and Development’ reveals that €5 billion of these investments were allocated to labor costs, while €3.7 billion covered non-wage costs.
Popular Technologies and Innovations
The report highlights that the most popular technologies in 2023 included artificial intelligence (AI), energy materials, hydrogen, semiconductors, and quantum technologies. These areas are pivotal in addressing challenges such as sustainability, healthcare, and digitalization. An example of innovation supported by the WBSO is the app Whispp, which converts whispers into speech, aiding individuals with communicative impairments. This underscores the WBSO’s significance in promoting technological advancements that benefit both the economy and society.
Government and Private Sector Collaboration
The Dutch government, through the Rijksdienst voor Ondernemend Nederland (RVO), administers the WBSO scheme, which has been instrumental in encouraging over 19,000 companies to invest in R&D in 2023. Notably, 97% of these companies are small and medium-sized enterprises (SMEs), demonstrating the scheme’s accessibility and broad impact. Minister of Economic Affairs and Climate, Micky Adriaansens, emphasized the necessity of innovation for maintaining the Netherlands’ competitive edge and addressing future challenges. However, she pointed out that private sector investment in R&D still lags behind other economically strong countries, urging entrepreneurs to leverage the WBSO and other innovation schemes more effectively.
Regional Distribution and Employment Impact
The WBSO’s impact is also evident in job creation, with nearly 94,000 full-time jobs supported by WBSO-funded projects in 2023, an increase of approximately 900 jobs from the previous year. The majority of these companies are concentrated in the Greater Amsterdam region, with significant numbers also in Brainport Eindhoven and Utrecht. This regional distribution highlights the diverse geographical impact of the WBSO in fostering innovation across the Netherlands.
Future Outlook
Looking ahead, the continued support for innovation through the WBSO and other government schemes is expected to remain a cornerstone of the Dutch strategy to compete globally and address pressing societal issues. The government’s commitment to fostering an environment conducive to technological advancements is crucial for sustaining economic growth and ensuring the Netherlands remains at the forefront of global innovation.