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Lack of funding prevents companies from capitalising on their innovations

May 28, 2014 | News

(28 May 2014) – Most companies have not received public financial support for R&D or other innovation activities since January 2011, reports the 2014 Innobarometer survey on “The role of public support in the commercialisation of innovations”.

Most importantly, access to finance is still the main obstacle encountered by companies in the commercialisation of their products or services.

However, 66% of companies say that they have introduced at least one innovation in the last three years and for 61% of companies, innovative goods or services contributed 25% or less to annual turnover in 2013.

The survey was designed to benchmark innovation activities and to explore barriers to commercialisation and the role of public funding in the diffusion of innovation. It was conducted in the 28 EU Member States as well as in Switzerland and the United States.

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