BUSINESS

Greek firms in Europe's top 1,000 R&D spenders

TAGS: Business

Five Greek firms rank among Europe’s top 1,000 from various sectors of the economy for spending on research and development in 2017.

According to the recent “2017 EU Industrial R&D Investment Scoreboard” published by the European Commission, which also tracks companies from other continents, the top Greek enterprise was pharmaceutical industry Pharmathen, ranking 370th among firms in Europe. It implemented R&D spending of 49.92 million euros last year, up by 12.7 percent from the year before.

National Bank of Greece ranked second among Greek firms and 456th in Europe after investing 37 million euros in R&D, up by 15.6 percent from 2016. Four places below that is Galaxidi Marine Farm, in 460th place, with a 3.5 percent annual increase in R&D spending to 36.2 million euros.

Gaming solutions supplier and operator Intralot put 14.6 million euros into R&D last year, up by 17.9 percent from 2016, to rank 733rd in Europe, followed by Creta Farm, which spent 7.16 million euros in research and development (down 13.8 percent) to rank 988th in Europe.

Topping the global chart were Germany’s Volkswagen with 13.6 billion euros, ahead of Alphabet (from the US) with 12.8 billion and Microsoft (US) with 12.3 billion.

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