From an economic development standpoint, research and development involves developing new knowledge about products, processes, and services, and then applying that knowledge to create new and improved products, processes, and services for the market.
This process often involves partnering between a research-oriented university and a more commercially focused business enterprise.
In Oklahoma, the commercialization of technology receives support from state-funded groups that encourage and solicit commercialization as a means to continuously fill the state's pipeline of evolving industries.
These organizations may award seed capital for especially promising projects that meet their guidelines. This money can be used for initial investment in a project or startup company, for proof-of-concept, market research or initial product development.
To read the full, original article click on this link: Research & Development And Seed Capital » Grants-And-Funding » Oklahoma Department of Commerce
Author: Oklahoma DoC
