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OECD Reviews of Innovation Policy: Austria 2018

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Over the past two decades, Austria has become one of the most R&D intensive economies among OECD countries and in the world, dedicating 3.1% of its GDP on R&D in 2016, the second highest figure in the European Union. To fully harness this R&D capacity, Austrian innovation policy needs to put a stronger emphasis on efficiency in transforming R&D inputs into impacts. To achieve higher impacts, Austria also needs to steer its research and innovation system towards leadership excellence in global markets. This requires enhanced international attractiveness for top-level researchers and talent, and a conducive environment for highly innovative enterprises. Austria could also benefit from strengthening R&D and innovation to support key transitions, such as digitalisation and Industry 4.0, and to tackle key societal challenges. The STI policy mix and governance arrangements should be adapted accordingly.

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Business innovation and Industry 4.0 in Austria

This chapter outlines the main business actors in innovation and their performance, and discusses the main innovation challenges facing the Austrian business sector today. It analyses public support for business innovation and entrepreneurship as well as the innovation capacity of the Austrian business sector. It discusses improving early stage equity financing and investment readiness as well as supporting management and leadership development. The chapter continues to illustrate the current policy mix to support business R&D and describes possible avenues to better respond to future needs in this area. The chapter further discusses Industry 4.0 by providing an overview of key areas that enable harnessing the benefits of respective technologies, including cloud computing, the supply and use of data, 5G networks and Austria’s readiness for technology diffusion.

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