Research and development funding

Research and development (R&D) funding refers to the financial resources allocated by companies, governments, or organizations to innovate, create, and improve products, services, or technologies. This investment supports activities like scientific research, experimentation, and testing to discover new solutions or enhance existing ones. R&D funding is crucial for staying competitive, driving economic growth, and solving complex problems. It typically covers labs, equipment, salaries for researchers, and project-related expenses. By investing in R&D, entities aim to foster innovation that can lead to new markets, improved efficiency, and long-term success.