Research & Development Research and development (R&D) is a valuable tool for growing and improving your business. R&D involves researching your 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, taking also advantage of national and European funding programmes. Innovation in your business R&D can lead to innovations in your business. These may be in terms of new products and services, improved processes and new ways to interact with your customers. These innovations can result in greater profits and lower costs. Innovation is also a useful way to grow your business. Many businesses want to innovate but don’t know how to go about it; they often see it as too hard, too expensive, or too time-consuming. However, taking advantage of available funding and mentoring support could save your business valuable time and money, and streamline the innovation process. Why R&D&I is important? - Crucial to survival - Fast changing environment - Continuous technology change - Competition - Changing consumer preferences, trends, needs - Fundamental to “marketing” - Use the funding aids available also to competition - Understanding what markets need - Selling what is possible to make in terms of technology - Efficient production processes