Innovation doesn’t just fall from the sky

Economic growth, the foundation for prosperity, is driven by innovation, modernisation and research and development (R&D). In Belgium we have a unique R&D landscape thanks to fruitful cooperation between our government authorities, educational institutions and knowledge institutions – not to mention our companies. A favourable tax framework for R&D has guided Belgium to the top of Europe in ten years, alongside Sweden, Denmark, Finland and the Netherlands.

We want to maintain that top position. After all, grey matter is the only raw material our country has. But the challenges are great! That’s why we absolutely need to safeguard the favourable tax climate for R&D and innovation and ensure a stable legal framework. In 2023, we invested more than 3% of our gross domestic product (GDP) in R&D. But FEB firmly believes that by 2030 we can increase our investment efforts to more than 4% of GDP, making us a world leader alongside South Korea.

To achieve that goal, it is essential to bolster cooperation between the various R&D stakeholders in our country. Regular consultation between federal and regional institutions is vitally important for identifying and exploiting opportunities for cooperation and synergies.

At the same time, we must halt declining learning outcomes through high-quality education that meets the needs of the labour market. Encouraging STEM (science, technology, engineering, mathematics) disciplines in education will stimulate the drive towards innovation and entrepreneurship.

Lastly, innovation cannot happen without digitalisation, which includes transactions between companies and the government. That is why FEB is a great supporter of introducing e-Box Enterprise, a one-stop digital mailbox for companies.