R&D and innovation
Innovation is about making positive change. It's finding creative new ways to tackle problems, react to change, or make something better.
In business, this means coming up with new and improved products and services that you can produce, licence or sell. It also means developing business processes that reduce your costs and boost your productivity. Investing wisely in innovation can improve your ability to compete in Canadian and world markets.
The road from developing and testing an original idea to introducing it into the marketplace can be long and costly. Remember that many great ideas never make it off the ground. Carefully evaluate your ideas and stick with those offering the most promise and return on your investment.
To innovate, you may need to do research, implement new technologies, train employees, improve productivity, establish partnerships and seek financing.