Research and Innovation (2024)

FAQs

What is research and innovation? ›

Research and Development (R&D) and Innovation is the process of developing and commercializing new ideas, implementing new processes or changing the way your business makes money. It can also be viewed as the activities required to keep your business competitive and sustainable for the long term.

Innovation is often necessary for companies to adapt and overcome the challenges of change. It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today's highly competitive world.

Innovation Research is curiosity-led and open-ended in nature, using thematic explorations as the means to deepen or challenge the current understanding of humanitarian innovation and stay abreast of emergent trends and practices in the field of humanitarian innovation.

Innovation and R&D are two terms that are sometimes interchangeably used but carry uniquely different meaning. Innovation is driving new value and value streams, whereas R&D is focusing on what you might already have.

An innovation team is a group of two or more persons whose purpose is to deliver new ideas, new methods, new approaches, new inventions, new materials and/or new applications that drive value in the market.

Formulating and implementing the research and innovation policies, objectives and initiatives in line with the Authority's strategic agenda. issues on the insurance industry. within a focussed ecosystem through collaboration and partnerships.

As explained above, basic research is the precursor to new innovations reaching the market. It is an essential part of development of scientific knowledge, and when utilized by private sector companies, can produce groundbreaking results for both the company and the market.

Successful Innovative Products Examples include the introduction of electric cars, smart home technologies, or advancements in medical devices.

Research is a step by step process to create understandable knowledge, while innovation is a process of improvising the knowledge generated from research to meet real needs.

What are innovative research methods? ›

Innovative Research Methods is a community-based space for exploring new and creative ways of conducting, displaying and utilising academic research.

Research plays a crucial role in development by contributing to economic growth, innovation, competitiveness, and the improvement of living standards. It helps increase productivity and supports the output production process.

Research: It is the process of searching and investigating to find information, understand concepts, or solve a specific problem using known methods and tools. Innovation: is the ability to find new and unique ideas to solve a problem, improve a process, or create a new product.

Innovation research focuses on the analysis of completed and current innovation processes and is primarily interested in factors that are crucial to successful market penetration. Factors enabling and preventing innovative success are identified.

Research and development activities focus on the innovation of new products or services in a company. Among the primary purposes of R&D activities is for a company to remain competitive as it produces products that advance and elevate its current product line.

As explained above, basic research is the precursor to new innovations reaching the market. It is an essential part of development of scientific knowledge, and when utilized by private sector companies, can produce groundbreaking results for both the company and the market.

It helps us understand complex problems and create solutions across cultures, regions, and sectors. Research-based tools and innovations improve the way we plan for and respond to disasters, design our health systems, build resilience, boost agricultural productivity, and understand environmental changes.

Innovation is important in design thinking because it allows designers to create solutions that are both practical and effective. Innovation in design thinking can take many forms. It can involve using new materials or technologies, rethinking traditional design practices, or finding new ways to solve problems.

Research means to find information about something which is already present . Invention is inventing (creating) things which were not present before .