In collaboration with TNO and VNO-NCW, TW has compiled the R&D Top 50 for 2025. ASML remains by far the largest R&D investor in the country, while a new generation of deep tech companies is growing remarkably rapidly.
The new edition features fifty companies and offers a current overview of the organizations investing the most in research and development in the Netherlands. The R&D Top 50 demonstrates the breadth of the Netherlands' innovation base and how established players and fast-growing newcomers contribute to our country's technological foundation.
A broader view of innovation in the Netherlands
The expansion from a Top 30 to a Top 50 is due to the increased number of companies willing to share their R&D data, meaning this year's list encompasses a broader group of organizations. In addition to established names like ASML, Philips, Booking.com, and KPN, this year's ranking also includes more international players, deep-tech scale-ups, agri-food companies, and medical technology companies. The list demonstrates that the Netherlands boasts not only a strong high-tech and manufacturing industry, but also a vibrant field of young companies with rapid growth rates.
As in previous editions, the R&D Top 50 focuses exclusively on R&D actually conducted in the Netherlands, regardless of the location of their headquarters. This provides a clear picture of the development potential within our borders and aligns with the economic and technological role the Netherlands plays in international value chains.
Key insights from the 2025 R&D Top 50
- ASML remains convincingly at number 1 with €3.0 billion in Dutch R&D expenditure.
- Philips and Booking.com strengthen their top rankings with €650 million and €554 million in R&D investments in the Netherlands, respectively.
- New shifts in the top 10: with TomTom, Shell Netherlands, and Danone, we see a new and diverse top group emerging.
- Fast-growing scale-ups and deep-tech companies: young companies like Axelera AI, QuantWare, LeydenJar, and Hadrian are playing an increasingly important role in chip technology, AI hardware, quantum, and battery innovation. They are among the fastest growers.
- Strong presence of agri-food and biotech: in addition to high-tech, investments in seed breeding and biotechnology are particularly notable.
- Concentration of R&D in the Netherlands: At companies like TomTom, DAF Trucks, Nedap, Priva, and SMART Photonics, almost all R&D takes place in the Netherlands. ASML and Canon Production Printing dedicate more than 70 percent of their global R&D to the Netherlands.
The importance of the R&D Top 50
Investments in R&D form the foundation for future economic growth, technological innovation, and addressing major societal challenges such as digitalization, energy transition, and food security. The R&D Top 50 provides insight into which companies are developing the most knowledge and innovation capacity in the Netherlands and how these companies have evolved over time.
The insights from the list are based on voluntarily submitted data from participating companies. Therefore, the list does not constitute a complete representation of total R&D investments in the Netherlands, but it does offer a valuable and detailed look at the organizations that actively share their innovation strategy.
