The process of investigating and creating new products or technologies.

R&D stands for research and development. It refers to the set of activities companies or governments undertake to create new products, services, or improve existing ones. R&D is essentially the first stage of bringing a new idea to life.

Here’s a breakdown of the key points about R&D:

• Goal: Develop innovative products and services or enhance existing offerings.
• Activities:
  • Gathering knowledge through research
  • Designing and creating new products or processes
  • Testing and refining ideas
• Benefits:
  • Stay ahead of competition
  • Cater to new market demands
  • Increase profits

Examples of R&D:

• A pharmaceutical company developing a new drug
• A tech company designing a new smartphone
• A car manufacturer researching electric vehicle technology