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Reduced optimal investment

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Biotechnology

The budget bill, which was presented on 12 September, sets out a plan to reduce the state's funding for food research (Matís) by 51 million over the next two years, from 441 million to 390 million. This is contrary to the need for innovation in agriculture and fisheries throughout the country and will prove to be a short-lived warm-up for the Treasury, as Matís' operations have been successful and have brought great benefits to society. Taking into account tax payments and social security contributions, only about 80 million of the 435 million that the service agreement for food research returned to Matís in 2016 remained.

It is worth mentioning that in the summer of 2017, Matís' management took austerity measures to prevent losses in the current year, as solid operations have been a priority for Matís from the beginning. Following the austerity measures, it looked as if Matís could vigorously support growth in the bioeconomy. The announced cuts are expected to damage Matís' ability to serve its statutory role in increasing value creation, food security and improving public health.

Matís' special income in 2016 amounted to ISK 1,180 million. The state's investment in food research is necessary to counteract competition funds, but for every ISK the state contributes to food research, Matís' ambitious employees receive ISK 2.6 in special income, with foreign competition funds, such as Horizon 2020, which returned Matís ISK 481 million in 2016 and ISK 481 million. innovation society even more. If we look at the public funds that Matís has left over after paying taxes and public fees (80 million), it seems that Matís' employees have managed to return that investment fivefold by investing in foreign funds and tripling the amount with domestic grants. at the same time. Such a return would be good for most investors, not to mention the impact that Matís' research projects have on society throughout the country.

An example of an international project that benefits the Icelandic research community is FarFish, which Matís attended in Horizon 2020 in 2016. Matís leads the project and one of the important partners is the United Nations University School of Fisheries (UNUFTP). The UNUFTP, hosted by the Marine Research Institute, is expected to generate € 279,000 in the coming years, equivalent to 69% of the expected revenue of the Marine Research Institute, the Marine and Water Research and Consulting Agency from Horizon 2020 research and development projects funded.  

Instead of cutting the state's investment in food research and thus stifling Matís' ambitious pursuit of international competition funds, it would be more sensible to increase the investment to strengthen Matvælaland, as Iceland can be, and to preserve our food resources.

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