Number of companies investing in R&D triples in two years - minister

Tomasz Gzell/PAP

The number of companies that have decided to invest in research and development (R&D) over the last two years has grown threefold, Development Minister Jadwiga Emilewicz said on Friday during the opening of the Innovation Management Academy.

Speaking at the event, organised by the Polish Agency for Enterprise Development (PARP), Emilewicz said an important step in encouraging enterprises to take the risk of investing in R&D had been an innovation law which introduced tax breaks for companies deciding to create new products or technology.

"Nobody needs persuading that innovation is the driving force of a modern economy and a catalyser of a company's development," Emilewicz said. "Enterprises that forget that risk their products and services getting pushed out of the market in the near future by more innovative competition."

The minister added that it is extremely important for the Polish economy that people managing enterprises are aware of the importance of innovation and know how to stimulate, create and implement it.