EngineeringUK

Media release - 26/1/2009

ETB Welcomes R&D Scoreboard's Findings

The Engineering and Technology Board (ETB), has welcomed the findings of the Research and Development Scorecard today released by the Department for Innovation, Universities and Skills (DIUS), and has stressed the importance of research and development (R&D) in laying foundations for long term economic recovery.

The 2008 Research and Development Scorecard, published by DIUS, reveals that Pharmaceuticals and Biotechnology remains the largest investing sector both globally and in the UK. The scorecard also reveals that the businesses with the fastest growing investment in R&D over the same period were Microsoft, GM, Nokia and Roche.

Paul Jackson, Chief Executive of the Engineering and Technology Board, (ETB) said: ‘The 2008 R&D scoreboard reveals that 80% of global R&D occurs in five countries, of which the UK is one. In order to maintain this global competitiveness in the long term, it is vital that Government, business and industry continue to work together to encourage future R&D investment. We must also recognise the importance of converting this investment into actual products, goods and services.‘

Notes to Editors
1) For more information and analysis of the R&D Scoreboard, visit: http://www.dius.gov.uk/documents/Innovation/research_and_development/Final_2008_R&D_Scoreboard_commentary_&_analysis.pdf

For further information please contact:
Laura Marsh, PR and Communications Manager EngineeringUK
Tel: 020 3206 0444 or (m) 07887 943 017