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Promoting innovation in Baden-Württemberg: Companies are using state programs more and more frequently - but there is still room for improvement
According to a report from www.sueddeutsche.de, funding programs from the state of Baden-Württemberg to finance innovations are becoming increasingly important for companies. The proportion of companies using them has increased from 17 percent in 2017 to 25 percent. While the use of state programs is increasing, the use of federal programs is stagnating at around 20 percent and EU programs have become less important, from eight percent to four percent. According to the report, the state programs are still too complicated when applying or processing and companies complain about the long waiting time until a decision is made. This development shows that companies are increasingly relying on state funding and that the need...
Promoting innovation in Baden-Württemberg: Companies are using state programs more and more frequently - but there is still room for improvement
According to a report by www.sueddeutsche.de, funding programs from the state of Baden-Württemberg to finance innovations are becoming increasingly important for companies. The proportion of companies using them has increased from 17 percent in 2017 to 25 percent. While the use of state programs is increasing, the use of federal programs is stagnating at around 20 percent and EU programs have become less important, from eight percent to four percent. According to the report, the state programs are still too complicated when applying or processing and companies complain about the long waiting time until a decision is made.
This development shows that companies are increasingly relying on state funding and that the need for financial support for innovation projects is increasing. The fact that the use of federal and EU programs is stagnating or decreasing could indicate that the application processes and conditions for these programs are not attractive enough. There is therefore the possibility that the federal government and the EU will have to revise their funding programs in order to remain competitive.
The difficulties in submitting applications and long waiting times could lead to innovation projects being delayed or even prevented. This could have long-term negative effects on the competitiveness and innovative strength of companies. It is therefore crucial that the state of Baden-Württemberg quickly makes improvements to its programs in order to increase their attractiveness and benefits for companies.
Overall, the development points to an increasing dependence of companies on government support for innovation projects, suggesting that the economy may need financial incentives in some areas to maintain its competitiveness and innovative strength. This is an important aspect that governments and decision-makers in the area of fiscal policy and economic development must take into account.
Read the source article at www.sueddeutsche.de