Austria - European Semester Country Report
Austria has in the past decade progressed well on increasing R&D intensity and now has the fourth highest level of R&D investment in the EU (2.99% in 2014) and an above EU-average level of excellence in science and technology. However, the relatively high level of public R&D investment does not yet translate into corresponding innovation outputs and related economic effects. The growth of innovative firms in their start-up phase remains for example below EU average. There is still room for increasing the effectiveness of public support for business innovation and for boosting innovation performance.
Austria is addressing the need to boost the performance of its research and innovation system in a national research, technological development and innovation strategy adopted in 2011 (‘Der Weg zum Innovation Leader’). R&D tax incentives have been expanded and the shortage in the supply of private equity, notably venture capital has been also addressed, though the corresponding markets are still small. There are also many initiatives on improving knowledge-transfer.