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Microtechnology industry keen to invest and innovate

DORTMUND, GERMANY, April 7, 2016

The microtechnology industry is keen to increase funding and innovation, despite low levels of investment in Europe, said a recent report.

More than a third of all European microtechnology companies intend to increase investments and intensify R&D efforts in 2016, according to the annual economic data survey of the IVAM Microtechnology Network.

The report added that the industry is ploughing its revenue back into the business, instead of relying on loans and European monetary policy. In 2015, 28 per cent of the companies invested more than 20 per cent of their turnover in research and development.  

While medical technology and healthcare continue to be the driving force for innovation for the European microtechnology industry, Germany has moved beyond and is concentrating on energy efficiency and new drive concepts for electric mobility systems.

However, the report states that there are some factors hampering this drive for innovation; a major factor being the special status of some European countries within the EU framework program Horizon 2020.

The EU downgraded Switzerland in 2014, which negatively affected R&D performance of high-tech companies and institutes throughout Europe since these depend on joint research activities and projects.

Another fear is that Britain’s withdrawal from the EU will further hamper cooperation in the industry and will further decrease its competitiveness.  

The IVAM Microtechnology Network collects economic data of the microtechnology, nanotechnology, advanced materials and optical/photonics industries once a year. In February 2016, more than 3,000 companies and research institutes in Europe were asked about their economic situation and business strategy, the possible exit of Great Britain from the European Union, and the status of Switzerland in Europe. – TradeArabia News Service




Tags: investment | Europe | Survey |

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