The Czech Republic Is One of the World’s Biggest Spenders On Innovation

How does the Czech Republic stack up in terms of spending on technology? The findings are favorable to those seeking a tech job here Staff Jason Pirodsky

Written by StaffJason Pirodsky Published on 05.09.2018 08:57:41 (updated on 05.09.2018) Reading time: 2 minutes

Looking for a tech-industry job in the Czech Republic? You may have come to the right place, says a new poll analyzing the world’s sure-bet countries for technology investments.

The Economist Intelligence Unit has released its Technological Readiness Ranking by assessing eight indicators across three categories including access to the internet, digital economy infrastructure, e-government and cyber-security offerings, and openness to innovation.

Of the 82 countries surveyed the Czech Republic, scored 27th in overall technological readiness, the best score in Eastern Europe. In terms of individual categories, however, the country ranked among the top 20 in the world for the percentage of GDP devoted to research and development spending, outranking both the UK and Canada in that category.

Australia, Singapore, and Sweden ranked as the best places to invest in the next five years.

According to Czech Investment, every third of a total of 106 investment projects in 2017 was a so-called high-tech project, a project highly technologically oriented or linked to research and development activities.

In 80 cases, it was an expansion of companies already operating in the Czech Republic.

Following the tech money to a new career?

Czech Invest says that investors most often headed to the Czech capital and South Moravian region in 2017, though Ústí nad Labem and the Středočeský Region saw significant amounts of investments last year as well.

One particular company mentioned for its investment plan was Siemens: In the coming years, the company will expand and modernize its branches in the Central Bohemia, Moravia-Silesia, Olomouc, Královéhradecký, Jihomoravský, and the Ústecký regions.

Other companies to watch include Prague Vaccines as well as Škoda Auto whose expansions were among the top investments in 2017.

Deloitte annually compiles its Technology Fast 50 Central Europe recognizing the fastest growing public or private technology companies in Central Europe, a must-read for anyone, particularly job seekers, with a professional interest in the local tech industry.

In 2017, first place went to Czech search engine

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