The total appropriations and outlays for research and development will increase to EUR 2 billion in the Finland Government Budget in 2015. According to Statistics Finland, R&D funding will increase by close on EUR 50 million from the previous year. The share of public research funding in gross domestic product is estimated to be 0.96 per cent.

The growth is based on increased outlays of the Academy of Finland and a new financial instrument for strategic research. The Academy of Finland's R&D funding grows by EUR 93 million. Simultaneously, the funding of the Ministry of Education and Culture is close on EUR 1.1 billion, which is 54 per cent of the Government's entire R&D funding. The amount of R&D funding awarded by Tekes - the Finnish Funding Agency for Innovation will, however, decrease by EUR 25 million.

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Photo: Kimmo Brandt/ City Tourist Board of Helsinki