Product category:
Engineering Industry Reports and Surveys
News Release from: DTI Innovation Group
Edited by the Engineeringtalk Editorial
Team on 02 November 2006
UK R and D keeps pace with USA
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
This article was originally published on Engineeringtalk on 28 Sep 2004 at 8.00am (UK)
Related stories
CAE technology conference attracts big guns
This year's Altair Technology Conference will take place on 2nd November at the Heritage Motor Centre, Gaydon.
Jargon buster cuts through the ATEX jungle
ABB has published an "ATEX jargon buster" that helps motor users cut through the jungle of terms and definitions that make up the new ATEX Directives.
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.
Further reading
New general manager for drives, motors, machines
Steve Ruddell is the new general manager of ABB's drives, motors and machines division in the UK.
Government needs to support vocational training
The Government needs to be more supportive of firms willing to participate in vocational qualifications and training schemes, a West Midlands' engineering company has warned
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.
• DTI Innovation Group: contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page
Search the Pro-Talk network of sites
