Government Research & Development 

Is research and development (R&D) a business strategy?

Using government R&D grants and contracts is most commonly used as a long term growth strategy by both small and large business. Further, the steps taken to build  business expertise are virtually the same as those needed when preparing for government R&D activities.

Consider how you would answer these questions:

• Does R&D fit with your company’s vision and business plan?
• Do you have the necessary equipment and/or space to complete a research project?
• Are you prepared to devote the necessary time and resources to prepare a proposal to apply for funding?
• Is your idea responsive to the technical topic and needs of a federal agency?
• What problem does your R&D interest address?
• How innovative is it? Is this a new solution to a problem?
• Do you have the “best” team to perform the work? Do you need consultants or additional technical assistance?
• Do you have a pathway to commercialization?
• Are you willing to assess your company’s strengths and weaknesses?

Research and development needs to be carefully planned and managed to succeed. TREND will help you identify and answer these and other questions. It is easy to waste money on developing product and service that go nowhere, but getting it right can lead to business stability, security and long-term profits.

Contact TREND if you would like assistance with assessing your company’s capacity for R&D activities.