R&D on the rise
Prague – The Czech Republic has increased its R&D expenditures significantly in the last year. At a1.88 billion, R&D investments rose by 18% compared to 2005, the second largest increase world-wide. Those expenditures achieved only 1.55% of the Czech Republic’s GDP, however, which is 0.19% lower than the European average. Domestic firms, which increased their R&D budgets by an average of 38% in 2006, are driving further growth.
CzechInvest announced in October that Czech Med, the national association of suppliers for medical technology, will be building a new centre for medical technology by next autumn with support from the European Commission. The announcement came after Eucomed, the EU organisation of medtech suppliers, published a white paper in which it proposed establishing a network of national medical technology centers across the entire European Union. The plan foresees investments of more than a12 million from 2007-2012 in the Czech centre alone.