Consumers are all about trends and having the latest product. This is why it is necessary to keep on top of new products, product lines and innovative ideas. Research and development can assist with the following:
- Learning what type of product the market is looking for.
- Designing and testing prototypes.
- Producing a final product or service.
Resources that can assist you with research and development costs, planning and finding R&D teams include:
- Precarn. This not-for-profit organizations provides access to sources of funding, researchers and innovative businesses.
- Industry Partnership Program. The Natural Science and Engineering Research Council of Canada (NSERC) can assist you in conducting research and development projects and get help from graduate and post-graduate students.
- Communications Research Centre’s (CRC) Innovation Centre. The CRC provides affordable research facilities, business development assistance, funding specialists and access to scientists and researchers.
- Collaborative Research and Development Grants. If your research project has to do with the natural sciences or engineering you could have part of your project costs paid for you.
For a complete list of research and development resources, visit this Canada Business page.
If you have questions about the benefits of research and development, request a free consultation from the Winflow Financial Group.