Saxony on the move: 4.6 billion euros for innovation and research!

Saxony on the move: 4.6 billion euros for innovation and research!

There is currently a dynamic spirit of optimism in the economy in Saxony. Saxon companies have noticeably increased their investments in research and development (R&D) in 2023. At around 4.6 billion euros, an increase of 10% was recorded compared to the previous year. This is evident in the new publication of the MDR, which is based on a company survey from 2024. Economics Minister Dirk Panter emphasizes that small and medium-sized companies in particular act as innovation engines in the country and are thus preparing themselves for future growth.

The expenditure on R&D in Saxony amounts to around 1.9 billion euros. The increasing innovation spending provides a positive outlook for the economic development of the Free State. A detailed analysis of the company survey also showed that the electrical industry and mechanical engineering are leaders in research intensity. The electrical industry and instrument technology alone account for 40% of R&D expenditure, which underlines the high level of innovation in these sectors.

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