This study is conducted annually by the Amsterdam Centre for Business Innovation (ACBI) at the University of Amsterdam in collaboration with SEO Amsterdam Economics.

The 2025 report reveals that Dutch businesses are only partially resilient to disruptions in essential services. Most companies would no longer be able to operate within half a day without electricity, telecom or other ICT services. While many organisations have taken some precautions, these measures remain limited in scale. Companies that have invested more in preparedness are, on average, more resilient.

‘Companies also expect higher defence spending to further tighten the labour market and push out other forms of investment’, says lead researcher Henk Volberda (Professor of Strategy & Innovation and Director of ACBI). ‘At the same time, they see opportunities for innovation in both existing and emerging markets.’

Declining climate ambitions

Efforts in radical, incremental and management innovation remain steady. However, the focus on sustainability continues to decline: only one-third of companies now have ambitious climate targets, compared to almost two-thirds in 2022. Average climate-related investments have also fallen from 4% to 2% of turnover. The adoption of key technologies remains limited, with the exception of cybersecurity and artificial intelligence, where companies report rapid progress in both usage and organisational maturity.

Key findings

1. Companies are divided on the impact of the geopolitical context on their business operations
   Across the business community, 43% indicate that the broader geopolitical context (international tensions, trade relationships, global dependencies) has at least some impact on their operations, while 38% report little to no impact. Volberda: ‘Among companies operating primarily internationally, the influence is clearly greater: 53% experience at least some impact, with 19% reporting a very strong impact and another 11% a strong impact.’
2. Dutch companies are vulnerable to failures in essential services
   Most businesses would be unable to function within half a day without electricity, telecom or ICT services. After one week without these services, only 6% of companies could still operate without electricity, 10% without telecom and internet, and 18% without ICT services. This underscores, according to Volberda, ‘the significant dependency of Dutch businesses on these vital services.’ One in 5 companies (just over 21%) indicate they have not taken any precautionary measures at all.
3. Higher defence spending creates pressure  and opportunities
   Companies expect tighter labour market conditions due to increased competition for personnel. Many also foresee negative effects on their own R&D investments, potentially due to crowding-out effects for research talent. But Volberda adds: ‘Higher defence spending can also stimulate demand in existing markets and open the door to new ones.’
4. Organisational maturity in artificial intelligence (AI) is increasing
   Companies report notable progress in the organisational and workforce capabilities needed to apply AI effectively. The perception that AI adoption lags behind business performance also appears to be shifting. Volberda: ‘Young, internationally active companies in ICT, business services and financial services show particularly high levels of AI maturity.’
5. Adoption of many other key technologies remains limited
   Around half of all companies use cybersecurity technologies, and about 40% apply AI or data science. Other key technologies are used by considerably fewer companies and often remain at an experimental stage. According to Volberda, the Monitor also highlights several regional clusters: ‘Semiconductor technologies, optical systems and (opto)mechatronics are concentrated mainly in the province of Noord Brabant, quantum technology in Zuid Holland, and AI and data science in Noord Holland.’
6. Climate ambitions continue to decline
   The share of companies with ambitious climate objectives – defined as aiming for a negligible ecological footprint before 2030 – fell again this year, from 38% to 35%. The proportion of companies with no such ambition, or only after 2050, has grown to 31%. This suggests not only a shift in ambition as 2030 approaches, but a broader decline in sustainability goals. ‘It is particularly concerning that companies with the largest ecological footprint have become less ambitious’, says Volberda.
7. Innovation efforts, business performance and investment show a mixed picture
   Efforts in radical innovation (new products/services for new markets) and management innovation (new ways of organising and collaborating) have increased slightly. But incremental innovation (improvements to existing products/services) continues to decline. This is consistent with the downward trend in recent years. Companies are also slightly less positive about their own performance. Investments are under pressure, especially in sustainability, and to a lesser extent in workforce development and ICT.

About the Dutch Innovation Monitor

The Dutch Innovation Monitor is one of the largest annual survey-based studies on innovation and entrepreneurship among Dutch companies. The findings are based on responses from a weighted, representative sample of executives and board members of Dutch firms.