Research and development

Cycle of research and development
Spending on research and development as share of GDP (2015)

Research and development (R&D or R+D), aka Research and Technical (or Technological) Development (RTD), is the set of innovative activities undertaken by corporations, wealthy industrialists, or governments in developing new services or products. R&D constitutes the first stage of development of a potential new service or the production process.

Although R&D activities may differ across businesses, the primary goal of an R&D department is to develop new products and services to answer questions, solve problems, and drive innovation.

R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment.

R&D is crucial for acquiring larger shares of the market through new products. R&D&I represents R&D with innovation.

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