The Annual Growth Survey 2016 highlighted that investing in R&I at national level is critical for growth and that therefore Member States should continue to prioritise public investments in R&I, ensuring their efficiency and leverage with regard to business investment. Member States need to keep up the pace of reforms to ensure an investment-friendly environment. See more information about the European Semester.
The European Semester supports Member States' structural reforms in different policy areas to promote jobs, growth and investment. Research and innovation play a key role in this context. That is why the Commission gives recommendations to and closely work with the Member States to increase the performance of their national R&I systems.
Have a look and see how the country is performing.
While Finland’s total R&D budget (2.9 % GDP in 2015, projected to marginally decline in 2016) is still among the highest in the world, it has decreased by 15 % in 2009- 2014. The decline was mainly caused by lower investments in the private sector which can be linked to economic restructuring.
Public R&D intensity remained almost stable over the period 2007-2014 with a counter-cyclical expansion in expenditure during the crisis years. In 2015 public R&D intensity dropped below 1%, bringing it back to the pre-crisis levels due to the government’s fiscal consolidation programme. Based on the 2016 budget, research and innovation expenditure decreased 9.4 % in comparison to 2015.
In the 2016 European Innovation Scoreboard, Finland remains an innovation leader. Its innovation performance has, however, decreased since 2010, based on a number of indicators. Namely these are innovative SMEs collaborating with others, non-R&D innovation expenditures and venture capital. Finland still has clear strengths in international scientific co-publications, licence and patent revenues from abroad, patent applications and public-private co-publications.
Universities have been pursuing the commercialisation of research output and the government’s programme for 2015-19 focuses research and innovation policy strongly on university-business collaboration and the creation of an efficient national research system.