#483 “Frascati method” R&D 2.2% United Kingdom

#news #trendingDefining Research & DevelopmentResearch and Development (R&D) spending is analysed according to theinternationally agreed “Frascati method” for collecting and reporting onresearch and experimental development, named after the town in Italy wherethe original Organisation for Economic Cooperation and Development (OECD)guidelines were first proposed in 1963.1The Frascati Manual uses the following definition of R&D:2“…creative and systematic work undertaken in order to increase thestock of knowledge – including knowledge of humankind, culture andsociety – and to devise new applications of available knowledge.”For an activity to count as an R&D activity under the Frascati definition, itmust be “novel, creative, uncertain [about what the final outcome will be],systematic and transferable/reproducible”.https://www.paypal.com/paypalme/AVCORPORATELTD?country.x=GB&locale.x=en_GBhttps://www.avcorporateltd.co.uk