Enterprises employing 10 people or more invested a total €175 million in innovation activities in 2018, according to data published by the National Statistics Office. Just over 70 percent of the expenditure was in innovation processes excluding Research and Development budgets, while intramural R&D accounted to slightly more than 25 percent.
Around a third of surveyed enterprises said that they had undertaken innovation activities in the three years from 2016 to 2018. Nearly 52 percent of the 865 enterprises conducted both product and business process innovation. More enterprises were engaged in business process innovation only (36%) than in product innovation only (9%).
Enterprises in the information and communications economic sector registered the highest share of expenditure, exceeding €62 million, followed by the financial and insurance sector (€44.8M)and the manufacturing sector (€28.5M).
The construction sector and the real estate sector recorded the lowest investment in innovation activities, each at €0.2 million.
One in ten of the surveyed enterprises applied for an intellectual property right or licence.