Education and Science, Estonia, Financial Services, Investments

The State is also expecting the private sector to participate actively in financing research projects.

Some of the 20 prioritised research projects that were selected have already been allocated State funding, co-financing from the private sector will be searched for others.

While the State has been increasing financing for research and development, businesses’ investments in this area declined during the economic depression.

“Estonian enterprises actually have a positive approach towards research and development and they are rather innovative,” remarked minister of education Tõnis Lukas. “I believe that now that the economy has turned towards growth yet again, these indicators are also improving,” he added.

The Government expects to receive investment proposals from representatives of all selected scientific projects by the beginning of November.