Track 31: Research and Development

sub track:
Definition and Scope, Innovation and Product Development, Pharmaceutical and Biotechnology R&D,  Collaboration and Partnerships, Funding and Investment, Regulatory and Compliance Considerations, ResearchAndDevelopment, Innovation, RandD, Scientific Research, TechInnovation, Product Development, InnovationStrategy, Biotech, MedicalResearch , Clinical Research, TechResearch, Research Innovation, Innovation Hub, LabResearch, FutureOfTech

Research and Development (R&D) refers to the systematic work undertaken by companies, organizations, or institutions to create new knowledge, products, or processes, or to improve existing ones. R&D is a critical function that drives innovation, technological advancements, and economic growth across various industries, including technology, pharmaceuticals, manufacturing, and consumer goods. Research and development (R&D) comprise creative and systematic work undertaken in order to increase the stock of knowledge and to devise new applications of available knowledge.
1. Stages of Research and Development

a. Basic Research

Objective: To gain a deeper understanding of fundamental principles and mechanisms without immediate commercial applications.

Approach: Involves theoretical work, experiments, and observations to expand scientific knowledge. For example, studying the genetic basis of a disease.

b. Applied Research

Objective: To apply findings from basic research to address specific, practical problems or develop new technologies.

Approach: Involves targeted studies and experiments to solve real-world issues. For instance, developing a new drug based on insights from genetic research.

c. Development

Objective: To translate research findings into practical applications, such as new products, processes, or technologies.