R&D Investment To Surpass One And A Half Billion Euro

The Government's Strategy for Science, Technology and Innovation has a target to grow expediture on Research and Development from €1bn in 2003 to €2.5bn by 2013.

Responding to the figures, Minister Micheál Martin, T.D., said, "It is critical that our manufacturing and business enterprises invest as never before in the knowledge and skill enhancing activities that will underpin their competitive position into the future."

"The level of increased investment in R&D is a very important indicator that Ireland is making tangible progress towards becoming a knowledge-based economy."

More than 550 Irish companies invested €100,000 or more in R&D, with major investments announced by companies ranging from Dawn Farm Foods, Qumas and Foamalite.