Oslo (NTB) – These are very interesting findings, and it is gratifying that the report confirms that research pays off both for society and for companies, says Arvid Hallén, CEO of the Research Council:
– a more research oriented industry is needed to ensure value creation, competitiveness and efficient utilization of resources, and Council will encourage more research-based innovation in all business sectors,
the report, commissioned by the Ministry of Fisheries, was published Friday.
Research provides ROI
SSB report “Innovation and value creation effects of selected corporate policies” have looked at the effect of aid granted to businesses through the Norwegian Research Council, including SkatteFUNN and Innovation Norway. According to the estimates of the analysis, the average output per million in project support for incumbents of either Research or Hoards under two new full-time positions and 1.8 million in increased annual value creation measured after three years. In the analysis it also appears that the net returns from publicly funded research capital is 7 percent, while earnings from projects without public support is about three percentage points higher.
– It is natural that the return on public research funding is somewhat lower than on private funds. This suggests that the public does as we should, namely support projects with greater risk and projects that companies might not otherwise implemented without public support. Meanwhile, the figures show that research has positive commercial effect, and this comes on top of less measurable effects such as increased knowledge in enterprises and the social benefits of research, says Hallén.
The tools complement each other
the fresh SSB report also looked at how public policy instruments for innovation and value creation in business complement each other. The report shows that there is little overlap between support from the Research Council and Innovation Norway. The report also shows that the effects are greatest where companies get the biggest support amounts, which happily are businesses that receive both Hoards support and other support. The report shows positive effects for all instruments on indicators such as growth, value creation, sales revenue or number of employees.
– This confirms our impression, which is that to the extent that individual companies receive support from the Research Council and Innovation Norway is often in different phases of a innovasjonsløp. We are also concerned about a good relationship between the players, so that businesses will find that the various support schemes are readily available and easy to put into, says Hallén.
Some main conclusions:
- When a company gets funding, it scales up operations. Revenues increase, as does the number of employees. Calculations show that one million kroner in support provides between 1.2 and 1.7 FTEs through Hoards.
- One million in funding from the Hoards increase value creation in a company with 1.8 million. Per year compared with similar enterprises that have not received funding.
- Research capital in business as Research Council has been building up a private economic returns of 7 percent.
- support for under £ 500,000 makes no supportable effects.
- Support for over 1.5 million provides the greatest effects.
- Skattefunn is very good – it also has a positive effect on young businesses.
**** This fabric conveys NTB for others – see www.ntbinfo.no ****


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