Flemish Government invests in innovation

Today, the Flemish Government took on the proposal of the Flemish Minister of Innovation Ingrid Lieten, three decisions to invest more in science and innovation.

The first decision increases the budget for Science and Innovation in 2011 by 65 million euros. Including  the four Strategic Research centers (IBBT, VIB, IMEC and VITO) who will receive nearly 10 million euros to invest in new projects.

The challenges of the future are growing: think about the aging population and the associated challenges in our health. Investing in Innovation is therefore crucial if we want to ensure our competitiveness so that we can create new and sustainable jobs in Flanders. More money means more opportunities to innovate in Flanders. And this is an impowerment for the people and the economy. This 65 million euro is at least a good start.

Ingrid Lieten

A second decision is to release 97 million euros for the Agency for Innovation by Science and Technology (IWT) to fund the commitments made in the past for research projects.

With this additional 97 million euros for IWT, the current research projects will be stimulated. This too will be a strong boost for Innovation in Flanders.

Ingrid Lieten

A third and final decision was taken regarding the multiannual  targets for Research & Development.

Today, the Flemish government agreed on a minimal growth path for the legislature. Specifically, the budget for R & D will increase at least 60 million euros in 2012. In 2013, at least 70 million euros will be added. And in 2014, we will add another 70 million euros added. So as from 2014 there will be an annual structural budget increase for R & D of at least 200 million euros compared to 2011.

Download the full version of the press release here. (Dutch)