Competitiveness and reboot for research, innovation and investments

Published

Research and innovation are crucial to Sweden’s competitiveness and to rebooting the economy after the COVID-19 pandemic. In the autumn budget, the Government is therefore proposing increased funding to Vinnova, RISE and Business Sweden for measures that help reboot Sweden. The proposal is based on an agreement between the Government, the Centre Party and the Liberal Party.

The ongoing changes in society require continued investments in research and innovation in order to contribute to Swedish competitiveness in the long term. In the autumn budget, the Government is proposing a number of investments in research and innovation that develop Sweden as a prominent knowledge nation and make use of people’s creativity. The purpose is to address society’s challenges, increase adaptability and utilise research results.

Increased central government funding of research and innovation through Vinnova

As private investment in research and innovation temporarily declines as a result of the COVID-19 pandemic, central government is increasing its funding to secure research, innovation and the supply of skills. It is therefore proposed that Vinnova receive an increase in its appropriation for 2021 of SEK 545 million to mainly make systemic innovation investments. The proposal is part of the Research and Innovation Bill which will be presented during the autumn.

Reinforcement of needs-driven research through RISE

Industrial research institutes conduct needs-driven research and development in global collaboration with universities, the business sector and the public sector. The institutes play an important role in the utilisation and commercialisation of research and innovation. The focus is on developing sustainable solutions, which are the pillars of the business community’s climate transition, competitiveness and growth. It is therefore proposed that RISE AB receive an increase of its appropriation for 2021 of SEK 95 million to implement initiatives that contribute to system solutions where many actors collaborate. The proposal is part of the Research and Innovation Bill which will be presented during the autumn.

Investment promotion measures through Business Sweden

Sweden is a small export-dependent country where there are many jobs with exporting companies. Foreign investment therefore plays an important role in the economic recovery. In order to strengthen investment promotion initiatives, funding of SEK 25 million is proposed for 2021, through Business Sweden.

 

Press contact

Sara Khatemi
Press Secretary to the Minister for Enterprise and Innovation Ibrahim Baylan
Phone (switchboard) +46 8 405 10 00
Mobile +46 76 129 67 08
email to Sara Khatemi
Vidar Jakobínuson Lindgren
Press Secretary to the Minister for Foreign Trade, with responsibility for Nordic affairs Anna Hallberg
Phone (switchboard) +46 8 405 10 00
Mobile +46 73 840 33 12
email to Vidar Jakobínuson Lindgren