FCT execution reaches €569 million in 2021

The financial performance of the FCT in 2021, 25 years after its creation, shows a new annual high of around €569 million, growing by around 7% compared to 2020 and 50% since 2016, when it was €378 million, as illustrated in Figure 1. The FCT's financial execution includes an investment in R&D of €556 million and internal operating expenses of around €13 million.

The continued growth in FCT implementation has been based on a clear S&T policy focused on the qualification and employment of skilled human resources and on the enhancement and diversification of scientific institutions, thus resulting in an effective process of European convergence and attracting centrally managed EU funds (Table 1).

Growth in recent years is associated with the following main programs (Figure 2):

1. Advanced training, with Studentships directly supported by the FCT totaling 2,330 new Studentships awarded in 2021, representing a 160% increase compared to the 895 new Studentships in 2015. Meanwhile, the revision of the Studentships regulations has updated the value of Studentships line with the evolution of the national minimum wage, which has led to an increase in the value Studentships in 2021. Studentships funded by FCT represent an annual investment of around €108 million and 19% of FCT's total investment.
2. Scientific employment, through the funding of doctoral researcher contracts, which has gradually replaced Studentships and reinforced the value and internationalization of scientific employment. Scientific employment has resulted in a profound change in the structure of FCT's implementation, representing an investment of around €122 million in 2021 , tripling compared to 2015, and corresponding to 21% of total investment. This investment has strengthened our institutional capacity and presence in European and international networks;
3. Institutions, including multi-year support for R&D Units, Associate Laboratories, Collaborative Laboratories, and S&T Infrastructure and Equipment, representing an investment of around €111 million and 20% of the total;
4. R&D projects, including support for R&D activities within the scope of projects supported by FCT in all scientific areas, as well as the implementation of thematic R&D programs such as the prevention and fighting of forest fires, the R&D Program for the Côa Valley, the R&D Program for Montesinho, the training of public administration with Artificial Intelligence, projects related to the pandemic and Covid-19, among others. In 2021, investment in R&D projects amounted to €129 million, representing 23% of the total;
5. International cooperation, with an investment of €54 million and 9% of the total, including participation in S&T organizations (e.g., CERN, ESA, ESO, EMBL, INL, AIR center, among others) and international partnerships, as well as the strengthening of the GoPORTUGAL program – Global Science and Technology Partnerships Portugal (includes the MIT Portugal, Carnegie Mellon Portugal, UT Austin Portugal, and Fraunhofer Portugal programs) and co-financing of the European Horizon 2020 and Horizon Europe programs;
6. Advanced computing, scientific culture, and community support, including access to publications and communications, with an investment of €31 million and 5% of the total, including activities by the Agência Ciência Viva (Live Science Agency), access to the B-On Library and the Science, Technology, and Society Network (RCTS), and implementation of the INCoDe program.2030, the Advanced Computing Strategy, ACT2030, and the installation of the Minho Advanced Computing Centre, MAAC, as well as the financing of the FCT's information and communication systems.

FCT's operating expenses are less than 3% of total investment, representing high efficiency in public spending when compared to other agencies that finance and evaluate science and technology activities. In 2021, operating expenses were €13 million, corresponding to 2.3% of total expenditure.

The FCT was created in 1997 with a budget of around €100 million, growing until 2001, when it executed around €220 million, and then between 2005 and 2010, when it reached around €480 million. Subsequently, the total amount executed decreased to around €380 million in 2015 and 2016, but has since grown again, reaching a maximum of €569 million in 2021.

Figure 1. Comparative evolution of FCT financial execution between 2015 and 2021 (Source: FCT)

Figure 2. Evolution of financial execution by area in 2015 and 2021 (Source: FCT)

Table 1. Evolution of FCT financial execution (Operations and investment), 2015–2021 (Source: FCT)