The National Statistics Office have published figures showing that 511, or 27.1% of all enterprises, undertook innovative activity between 2014 and 2016. Totally expenditure amounted to roughly €192.8 million.
A break down of the global expenditure shows that 66.6%, or €128.4 million, was spent on the acquisition of machinery and equipment. Meanwhile, 16.8% was spent on Research and Development amounting to €32.4 million.
The two main obstacles hindering further innovation were found to be a low demand for it in the market, as well as no need to innovate further due to previous activities. In fact, only 6% of enterprises applied for at least one type of intellectual property right or license.
That being said, 9.1% of all technologically innovative enterprises relied on cooperation agreements with suppliers for equipment, materials, components or software. 426 enterprises engaged in organisations or marketing innovations.