PARIS The Finnish National Technology Agency (Tekes) announced it has invested 329 million euros ($484 million) in R&D projects and innovation activities in the first half of 2008.
Tekes said the total funding of 329 million euros represented 60 percent of the funds available for the year. And, out of the total, 188 million euros ($276 million) were invested in innovation activities led by companies while 140 million euros ($205 million) were invested in public research activities led by universities, polytechnics and research institutes, specified the agency.
Tekes said it has observed a growing demand for corporate funding in the information technology sector, the electronics industry, software and media development as well as forest industry. However, added the agency, the demand for R&D funding decreased in biomedical, medical and food industries, as well as in the metal industry and mechanical engineering.
Tekes reported that the projects completed in the first half of the year produced about 800 new or replacement products, services or manufacturing processes. In addition, the projects generated approximately 500 patent applications and nearly 700 thesis papers.
For the year 2007, Tekes said it invested 469 million euros ($690 million) in research, development and innovation projects conducted by companies, universities and research institutions. About 284 million euros ($417 million) were granted for R&D projects in companies and 185 million euros ($272 million) for public research carried out by universities, polytechnics and research institutes.
In 2007, almost 2,000 R&D projects funded by Tekes were completed. The projects created over 1,100 new products, services or production processes, around 700 patent applications, nearly 1,000 theses and over 2,000 publications, Tekes concluded.