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Research and development

Gaining insights into your customers and their needs

Understanding your customers and their needs, helps shape new and better products and services.

Research and development (R&D) delivers up-to-date information about your business, your products and services, and your customers to guide improvements which generate growth and profits.

R&D involves you combining your own research into your customers, products and services and competitors, with existing research on your location, industry and trends.

Your R&D delivers a detailed picture of how your business is doing and where improvements can be made, or new innovations developed.

This information allows you to make informed decisions about investing in new products or services or refining existing ones.

R&D can unlock process improvements, increasing your business productivity and giving you an edge over competitors.

Ongoing R& D is a key part of the process that leads to innovation in businesses. If you’ve got an R&D strategy for your business, you’ve got an extra advantage over your competitors who don’t.

Support for R&D

R&D is the first step in developing a new product or service or updating an existing one.

When you have developed a great idea through your research and development, you may seek to commercialise it. A range of services and support are available to help.

  • Research and Innovation Fund: Supports researchers, businesses and entrepreneurs to accelerate their progress.

Find more information about support to develop innovative ideas.

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