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Research and Innovation Council adopts multiannual plan for research and development funding

Government Communications Department
Publication date 4.6.2024 12.40 | Published in English on 4.6.2024 at 13.46
Press release

In its meeting on 4 June 2024, the Research and Innovation Council adopted the multiannual plan for the use of central government research and development funding. The Government will decide on the plan in its plenary session on 13 June 2024.

In line with the parliamentary agreement reached during the previous parliamentary term, the Act on Research and Development Funding and the Programme of Prime Minister Petteri Orpo’s Government, central government research and development (R&D) funding will be increased by around EUR 280 million each year until 2030. The multiannual plan for R&D funding will guide the use of central government R&D funding in the coming years. The Research and Innovation Council, chaired by Prime Minister Orpo, oversaw the preparation of the plan. The council held extensive discussions on the plan and outlined its main content over the course of the winter and spring. The plan was drawn up by a working group appointed by the Ministry of Education and Culture and the Ministry of the Economic Affairs and Employment.

The main objectives of the plan are to accelerate sustainable economic growth, strengthen competitiveness, increase productivity and promote the renewal of society and business life. Finland’s RDI system is currently undergoing a comprehensive reform with the goal of increasing R&D expenditure to four per cent of GDP by 2030. New central government investments in research and development will strengthen R&D cooperation, encourage businesses and research organisations to ramp up ambitious research and development in Finland and improve the conditions for research that produces new knowledge and competence. In line with the plan, the additional funding will also focus on strengthening research and development competence, improving research and technology infrastructures and deepening international cooperation.

In its meeting, the council also discussed its working plan for the government term, which focuses on analysis and foresight work within the national research and innovation system and on monitoring and assessing the effectiveness of R&D funding.

The Research and Innovation Council is an advisory body consisting of members of the Government and external experts. Its goal is to develop research and innovation policy that supports wellbeing, education and culture as well as economically, socially and ecologically sustainable growth and competitiveness. The council’s operating model was reformed in autumn 2023 in line with the recommendations of the parliamentary RDI working group from the previous parliamentary term.

Inquiries: Henrik Vuornos, Special Adviser to the Prime Minister, Prime Minister’s Office, tel. +358 50 408 44 22 and Johanna Moisio, Secretary-General of the Research and Innovation Council, Prime Minister’s Office, tel. +358 295 160 625. Email addresses are in the format [email protected].