Economic and societal impacts of publicly funded R&D: evidence from project leaders in the Czech Republic

Abstract Public research and development (R&D) funding plays a crucial role in innovation and economic growth in Europe. It is supported by multilevel frameworks, including EU-wide and national funding schemes. This study investigates the experiences and perceptions of participants engaged in publicly funded R&D projects administered by the Technology Agency of the Czech Republic (TA ČR), focusing on economic and societal impacts. A comprehensive survey of 203 project leaders from diverse organisations examined three key questions: preferences for project structures, expected economic and societal impacts, and barriers and enablers in realising project outcomes. Findings indicate that collaborative projects, particularly university–industry collaborations (UIC), offer a distinct advantage. They generate significant economic benefits, such as new products, market expansion, and job creation. They also produce societal benefits, including skills development and environmental improvements. SMEs emerged as primary drivers of commercialisation, while research organisations contributed to knowledge-based outputs. Barriers such as bureaucracy, intellectual property negotiations, and certification delays constrain impact realisation. The study recommends flexible, impact-driven funding mechanisms prioritising company-led collaborations and tailored support for commercialisation and societal value creation. These insights contribute to enhancing the design of public R&D funding policies to maximise innovation impact and sustainability.