Innovation Monitor 2016/2017

Innovation Monitor 2016/2017

At a time when businesses face rapid change and disruption, nurturing innovation has never been more important.

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Innovation Monitor 2016/2017

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.

Key findings:

  • 80 percent of businesses who participated in the latest KPMG Red C research are engaged in innovative activity in Ireland and/or abroad.
  • 70 percent of businesses believe Ireland is innovation friendly.
  • The most significant influences affecting the decision to innovate are availability of funding and access to qualified in-house personnel.
  • 42 percent of businesses have availed of the R&D tax credit.
  • 57 percent of businesses were unaware of the Knowledge Development Box prior to being contacted for our research.

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.

Knowledge Development Box

Knowledge Development Box

In Budget 2016, The Minister for Finance announced the introduction of the Knowledge Development Box (KDB).

Innovation Monitor 2015/2016

Innovation Monitor 2015/2016

Promoting innovation is essential in helping secure Ireland’s long term economic success.

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