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Fostering Innovation in Belgium

Fostering Innovation in Belgium. Thomas Castrel, 25-9-2014. 1. “The iPhone is a niche product” Nokia CEO Olli — Pekka Kallasvuo , 17 April 2008. Belgium. At the border of 3 main European cultures. 11 million inhabitants Official languages : French, Dutch, German

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Fostering Innovation in Belgium

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  1. Fostering Innovation in Belgium Thomas Castrel, 25-9-2014 1

  2. “The iPhone is a niche product” Nokia CEO Olli — PekkaKallasvuo, 17 April 2008

  3. Belgium At the border of 3 main European cultures • 11 million inhabitants • Official languages:French, Dutch, German • Independent since 1830 • Federal state since 1981 • Head of state: King Philippe • Capital: Brussels 4

  4. Belgium connected to Europe 75 % of the EU Market (GDP) 40 % of the consumers 5

  5. Belgium is the second most globalised country in the world KOF Index 2014 measures 25 variables indicating degree of integration into world economy KOF stands for Konjunkturforschung (Business cycle research) 6

  6. A perfect assessment market • Gateway to European market • Multi-cultural population • European diversity challenge on a small scale Exportation 86% GDP Importation 84% GDP Source : The World Bank 2013 7

  7. Successful test in Belgium = successful test in Europe H&M maintains a pilot store in Belgium in order to market-test all its newest clothing collections. The Coca-Cola company has tested over 1,000 products in Belgium, including the well-received Coca-Cola Light Sango cola and Fanta World Mango product in 2006. 8

  8. Education & skills University Education Language Skills For information : India5,17 Russia 5,04 China 4,26 Brazil 3,27 For information : India6,25 China 4,95 Russia 3,89 Brazil 2,46 Sources : University Education (IMD World Competitiveness Yearbook 2014) Language skills (IMD World Competitiveness Yearbook 2014) 9

  9. Best quality for education and schooling Sources : The Global Competitiveness Report World Economic Forum 2013 - 2014

  10. An unique hotspot for lifelong learning “Best country in the world for academic research” The Scientist, November 2007 • 16 Outstanding Universities • Universities meet the needs of a competitive economy : Belgium ranked 11th out of 60(IMD World Competitiveness Yearbook 2014) • Strong interaction between teaching and research • Management schools ranked 2nd out of 148 (Global Competitiveness Report World Economic Forum 2013 - 2014) • 7 universities are classified in the Academic Ranking of the World Universities 2013 by Shanghai Jiao Tong University. • Worldwide renowned Research Centres • IMEC: nano-electronics • SCK-CEN: peaceful applications of nuclear science • ITM: Institute of Tropical Medicine • VIB: life sciences • Welbio: fundamental life sciences • VITO: sustainable technologies • Cenaero: high-techindustry, mainly in aeronautics • iMinds : Interdisciplinary Institute for Broadband Technology • … and many others 11

  11. EU innovation performance EU member states’ innovation performance Source: EU Commission, DG Enterprise, 2013 12

  12. Research & Development Source: Global Competitiveness Report World Economic Forum, 2013 - 2014 13

  13. Research & Development • 2012 EU Industrial R&D Scoreboard (European Commission) • Belgium ranks as one of the best hosting nations for high-tech R&Dinvestments. • US firms spend ten times more on R&D in the EU than in China and India combined. • Belgium is in a particularly good position to receive foreign investments in R&D due to the high quality of its research facilities, in combination with unparalleled R&D incentives. • Belgium receives the third highest amount of R&D expenditure by foreign-owned companies. 14

  14. Research & Development: incentives • 1. Patent income deduction • Deduction of 80% of the income from patents from the taxable basis, resulting in an effective tax rate of maximum 6,8% on this income • 2. Investment deduction • Investment deduction for R&D related investments • deduction of 14,5% on the investment value (in one shot) • OR 21,5% on the annual depreciation (spread deduction) • 3. Exemption from withholding tax on the remunerations of researchers • Principle: the salary withholding tax is normally retained on the remunerations paid to the researcher, but only 20% of the retained amount of tax must be paid to the tax administration (= extra financial means for the employer) → 80 % exemption of the withholding tax ! 15

  15. Implementation: scienceparks Louvain-La-NeuveScience Park (health, environment, engeneering) Liège GIGA Gosselies Leuven & Ghent Smart Hub Newton & uno. Brussels Etc…

  16. For further information Flanders Investment & Trade Koning Albert II-laan 37- 1030 Brussels www.investinflanders.com - invest@fitagency.be T : +32 2 504 87 11 - F : +32 2 504 88 99 Brussels Invest & Export c/o Ministry of Brussels-Capital Region Avenue Louise 500 - 1050 Brussels www.investinbrussels.com – info@investinbrussels.com T : +32 2 800 40 00 - F : + 32 2 800 40 01 Wallonia Export & Investment Agency Office For Foreign Investors Avenue des Dessus de Lives 6 - 5101 Namur-Loyers www.investinwallonia.be - welcome@investinwallonia.be T : +32 81 33 28 50 - F : +32 81 33 28 69 The Liaison Cel Federal Public Service Economy Contact person: Mrs Colette Vanstraelen Colette.vanstraelen@economie.fgov.be T : +32 2 277 72 82 17

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