Research and development (R&D) are valuable to all enterprises, irrespective of size. In the highly competitive world, it is of utmost importance for companies to invest in R&D to bring innovative products and services. For many businesses, the ultimate goal of investing in R&D is to either create new technology or use the existing technology to create new products, business models, and services. To ensure that the R&D is meaningful for the businesses, it is essential to ensure that it aligns with the company’s mission. Here is a list of reasons for companies need to invest in R&D.

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