Innovation: Incentive Structure for Innovations in the Chemical and Pharmaceutical Industry
Maintaining its top position in research and development (R&D) is getting increasingly difficult for the industry location Germany. Emerging markets are catching up. Established industrial nations massively invest in education and research and create innovation-friendly framework conditions.
The German chemical-pharmaceutical industry is facing this challenge. In 2017, the industry invested about 10.8 billion euros in R&D and worked consistently on eliminating company-internal obstacles to innovation. But industry alone cannot defend Germany’s leading position – support from politics is needed for this purpose.
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