Throughout history, the outcomes from Research and Development (R&D) have transformed people’s lives and societies in multiple ways, as well as the natural environment we are part of.
The Global Research Institute (GRI) is dedicated to furthering innovation globally for better outcomes across economies, standards of living, environmental sustainability, health and more.
The entire GRI R&D training program has been developed using the Frascati Methodology in mind. Understanding how knowledge creation and dissemination contributes to economic growth and societal wellbeing requires a sound evidence base. The Frascati Manual was first written in a rather different economic and geopolitical context from today. More than five decades later, its continued relevance is justified by even stronger interest in comparing the R&D efforts made by different countries and identifying what key features underpin them.
R&D is increasingly viewed as an input to innovation in the context of the overall efforts made in a knowledge-based global economy, but continues to play a crucial part and is a major focus of government policies because of its unique features.
Beyond geopolitical, environmental, and economic advantage; R&D investment can carry numerous benefits at an organisational level. For a company, investment into research and development can provide unique selling propositions and major competitor advantage. By staying at the front of innovation a business can deliver major competitive advantage for its shareholders resulting in higher profitability and better market share in the long term.
The fact that most OECD countries have major incentives to promote innovation demonstrates the benefit that research and development has from a political perspective aswell.
A dedication into R&D investment from an organisational level can also provide advantages for employee retention, branding and communication of the investment for use within marketing collateral, halo effect and alignment to universities and other research institutes and more.
Countries globally are enticing and encouraging investment into R&D as it is well understood the benefits that new innovations can deliver from both an organisational context in addition to an economic, geopolitical an environmental context.
