Abstract
This article aims to assess the development and structure of gross domestic expenditure on research and development (GERD) concerning the Europe 2020 strategy (Strategy) and the Czech government's targets. Four research tasks are outlined: 1. Assessing if the EU met the 3% GDP R&D investment target set by the Strategy. 2. Determining if the Czech Republic met its national R&D expenditure target. 3. Verifying the statistical relationship between GERD and the Summary Innovation Index (SII). 4. Examining the statistical relationship between GERD components and SII. Findings reveal that neither the Strategy nor the Czech Republic's targets were achieved. Correlation analysis indicates a significant relationship between total GERD and SII. Further analysis shows a strong correlation between the pairs of business enterprise expenditure on R&D and SII, as well as between government expenditure on R&D and SII.