Research and Innovation Strategy of Slovenia 2011-2020

Also the amount of investments of public resources for R&D in the economy hassignificantly increased in recent years, especially due to the use of funds provided byEuropean structural and cohesion policy. In addition, incentives to the companies aremostly intended for implementing R&D projects in connection with public research sector.Direct (non-refundable) financial incentives for investments into research anddevelopment have favourable effects, but the sources are limited, and not sufficient forcovering actual needs, in particular, because of the reduction of sources from Europeanstructural policy. The shortcomings are shown mainly at ensuring access do refundablesources of financing for investment into R&D, and into projects with higher risk, nottypically acceptable by the financial market. Access to (mainly commercial) sources offinancing of the development is, according to success indicators of innovation system(EIS 2009), far under the EU average (67 % average).ObjectivesThe aim is to increase private investments into R&D, namely:1. Strengthen incentives for increasing private investments into R &D from public funds.We will direct 60% of these public funds into projects in co-operation with the economy,as defined in Chapter 3.5. Also, a special emphasis will be given to improvement ofcompanies' access to commercial sources of financing for research, technologicaldevelopment, and commercialisation of new products and services, based on their ownknowledge. To increase financial capabilities for these purposes, the additional publicfunds will be directed into instruments of financial engineering through existing financialinstitutions, in order to achieve the strongest possible financial affect, and at the sametime, ensure access to favourable (debt and equity) financing resources for R&D activitieson diverse levels of development.2. Support the employment of researchers or developers in economy. Measures arestated in Chapter 4.3.3. Strengthen the system of tax incentives for investments into R&DA positive effect of tax incentives for investments into R&D is confirmed for the economyand clearly demonstrates the efficiency of the measure and multiplicative effect to theeconomy, although the level of incentives in so far lower as in numerous developedcountries. A complete comparative analysis of the systems in applicable countries will bemade, a proposal for the optimisation will be prepared, and accordingly also an update ofthis measure. The purpose is to expand the existing level of tax relief or to expandexisting relief for investments into R &D also to investments into human resourcesdevelopment and lifelong education, and to simplify the implementation system in a waythat it will be encouraging for wider public, especially for small businesses.MeasuresKey sector objectiveSelected indicator with targetvalueIncrease of privatefinancing, mainly by thebusiness sector, into R&DPrivate investments in R&D as% of GDPMeasure Responsibility Deadline Indicator56 Increased public fundingfor R&D projectsresponding to needs of theeconomyGovernment of the RS(science, technology,innovations)2012 60 % of public funds for R&D aredirected into projects, respondingto needs of the innovative economyExtend of private investments intoR &D, encouraged by public sources