UK R and D keeps pace with USA
A
DTI Innovation Group product story
Edited by the Engineeringtalk editorial team
Nov 2, 2006
The DTI's 2006 R and D Scoreboard reveals a GBP 2 billion rise in UK companies' R and D investment.
There has been a GBP 2 billion rise in UK companies' R and D investment according to figures published today in the DTI's 2006 R and D Scoreboard.
R and D investment is GBP 19.2 billion compared with GBP 17 billion reported in the 2005 Scoreboard.
Around two thirds of this substantial increase is due to companies in sectors such as banks, insurance, media and retail disclosing R and D for the first time.
The remaining third reflects a 4% increase in R and D by the top 800 UK companies compared with the previous year.
The UK's top R and D companies are keeping pace with their US counterparts in the world's top 1250 R and D companies, with both showing an 8% rise in R and D compared with the previous year.
The Scoreboard also shows UK companies' continuing strength in aerospace and pharmaceuticals and reflects a growing software sector - aerospace R and D is up 21% and software up 13%.
Science and Innovation Minister Lord Sainsbury said: "This year's Scoreboard confirms again that R and D plays a key part in business success, and demonstrates the ever-widening relevance of innovation, and the R and D that goes into its creation, for companies large and small.
"The UK is an attractive location for R and D activities and companies are increasingly recognising the benefits of the UK as a productive environment for R and D investment.
"Global competition remains strong and the Government is committed to making the UK one of the best places in the world for science and innovation".
The R and D Scoreboard is the premier source of information on business R and D in the UK and globally, looking at data for the top 1250 global R and D investing companies (which includes 72 from the UK) and the top 800 from the UK.
The top ten foreign-owned UK companies account for just over half of the GBP 4.4 billion of R and D performed by foreign-owned UK companies.
Eight of these 10 have higher R and D intensities than their overseas parents and this emphasises the attractions of the UK as a location for R and D.
UK R and D is particularly strong in pharmaceuticals (GBP 6.8 billion of R and D) and aerospace and contains a growing software sector (119 companies in 2006).
Smaller UK companies are increasing their R and D as well as larger ones: this year, 88 more companies reported over GBP 0.5 million of R and D.
The proportion of UK companies with R and D above GBP 2.9 million and with high R and D intensity (over 10%) is rising and is significantly above that of the rest of the EU although still below the USA.
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