ART, gives best Research and development (R&D) service to the work a business conducts toward the innovation, introduction and improvement of its products and procedures. Simply, it is a series of investigative activities to improve existing products and procedures or to lead to the development of new products and procedures.In general, research and development activities are conducted by specialized units or centers belonging to a company, or can be out-sourced to a contract research organization, universities, or state agencies. In the context of commerce, "research and development" normally refers to future-oriented, longer-term activities in science or technology, using similar techniques to scientific research but directed toward desired outcomes and with broad forecasts of commercial yield.
In Art Research and development (R&D) is a valuable tool for growing and improving our business. R&D involves researching our market and your customer needs and developing new and improved products and services to fit these needs. Businesses that have an R&D strategy have a greater chance of success than businesses that don't. An R&D strategy can lead to innovation and increased productivity and can boost your business's competitive advantage.
Once new and improved products have been developed through R&D, businesses often seek to commercialise them so they can be sold on the market. In Queensland, there are a number of support services available to help businesses and researchers commercialise their products, including:
- the Entrepreneurs' program supports businesses who are interested in R&D with a range of programs designed to stimulate innovation
- Innovate Queensland - provides advice, solutions and tools to assist business, research organisations and governments state-wide to develop their commercialisation skills