Finnish government to fund R&D with EUR 2 billion

Finland’s R&D expenditure as a proportion of overall government spending is 3.8%, which among the highest in the OECD countries.

The Finnish government’s budget for funding research and development is EUR 2.0016 billion in 2013, which is 5.5% less in real terms than in 2012, according to Statistics Finland. Nevertheless, government R&D expenditure as a proportion of overall government spending exclusive of debt servicing is estimated to be 3.8%, which is still among the highest in Europe and the OECD countries.

The Ministry of Education and Culture has the largest government budget appropriations for R&D with EUR 984.2 million (49.2% of the total), going mostly to universities and the Academy of Finland. The Ministry of Employment and the Economy is the second biggest recipient of R&D funding with EUR 687.9 million (34.4% of the total).

EUR 871.6 million for TEKES and Academy of Finland

TEKES – the Finnish Funding Agency for Technology and Innovation is allocated EUR 542.3 million in R&D funding and the Academy of Finland EUR 329.3 million. This year the amount of R&D funding has only been increased in the administrative branches of the Ministry for Foreign Affairs and Ministry of Justice.

Nearly half of the R&D funding of government research institutes comprises other than budget funding. The research institutes estimate that the amount of extra-budgetary research funding will rise to EUR 300 million, which is EUR 14 million more than in the year before and just EUR 4 million less than budget funding. Research funding received from the European Union will also grow by over EUR 5 million to nearly EUR 52 million.

Source: Statistics Finland