Research and development (R&D) is the lifeblood of innovation. Universities, businesses, and federal agencies all leverage R&D to generate discoveries that drive economic development and improve quality of life. For major universities, academic research has always been a core function. However, over the past decade, universities have placed an increased emphasis on commercializing discoveries made through academic research—thus bringing campus discoveries to market more quickly. For businesses, effective R&D is vital to competitiveness as companies look to grow their share of increasingly globalized markets. Lastly, research conducted at federally financed R&D centers ensures the country stays on the leading edge of discovery in important areas like advanced materials, defense, energy, supercomputing, and many more. Together, universities, businesses, and national labs create an ecosystem of innovation through R&D that helps drive societal progress.
