Companies spend €1.8bn on research

COMPANIES in Ireland spent more than €1.8 billion on research and development (R&D) last year but funding shortages and lack of suitable research partners are obstacles to increased collaboration with third-level colleges.

The figures for 2010 in the latest Business Expenditure on Research and Development (BERD) survey are estimated but the same report shows that almost three-quarters of the 1,283 enterprises which undertook R&D in 2009 were Irish-owned.

However, less than 50 indigenous firms spent more than €2 million and 77% allocated less than €0.5m, whereas one-in-four of 331 foreign companies with R&D activities spent over €2m.