For many companies across Ireland, innovation is a strategic priority. Eighty percent of businesses who participated in recent research conducted by Red C on behalf of KPMG are innovating in Ireland and/or abroad. The most significant influence on their decision to innovate is the availability of funding. Access to qualified in-house personnel is also very important.
Despite the high level of participation in innovative activities, many companies, particularly SMEs, miss out on financial benefits through lack of awareness of incentives like the R&D tax credit and the Knowledge Development Box. Our research highlights opportunities to improve Ireland's innovation ecosystem and shows that businesses would like government to do more to nurture and support innovation.
We hope that you will find this snapshot of current innovation matters in Ireland useful and thought provoking. If you would like further information or to discuss how to build more innovation into your business, please do get in touch - our contact details are included at the back of this report.