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Research and development sector benefits from investment increase
Monday, 12 November 2007
Science, IT and Engineering
Leading UK firms spent almost £21 billion on research and development (R&D) during 2006, an increase of nine per cent on the previous year, according to new government figures.
The annual R&D Scoreboard revealed the 75 biggest UK-based investors in the sector increased their R&D spend by 12 per cent last year, offering up increased potential for graduate recruitment opportunities in the research and innovation-based roles.
Pharmaceutical companies continued to be the UK's largest R&D investor, while the fixed-telecoms sector saw the largest increase in investment, up 54 per cent from the previous year's figures.
Ian Pearson, Science and Innovation minister, said: "This year's figures show that more and more British firms are taking innovation seriously.
"Developments in science and technology are opening up many more opportunities for companies to innovate and grow, and I hope that the R&D Scoreboard will continue to help inform their plans for the future," he added.
The government recently announced a new plan to support technology and innovation in business, with £1 billion pledged to support the Technology Strategy Board over the next three years.