Stimulating Success
No matter what the size and scope of your company, developing new products and processes and successfully bringing them to market stimulates success.
The rewards of successful research and development (R&D) can be significant. It can open up new markets, boost sales and increase profitability. But it is also a risky business. R&D requires investment in resources, people and expertise. It’s not a ‘quick-fix’ and can take considerable time to fully develop an idea and bring it to market. And R&D can be costly.
For businesses operating in Wales, help is at hand. Through the Welsh Government’s RD&I (Research, Development & Innovation) team, funding and support is available at all stages of a research and development project. Our support is aimed at small and medium-sized enterprises (SMEs), as well as start-up businesses. We provide financial support and innovation advice. We direct you to specialists and help you create connections. In short, we support you by sharing the risk.
Supporting you every step of the way Support is available for all phases of a research and development project, from initial feasibility to market exploitation. Here’s an overview of how we can help:
Technical and Commercial Feasibility phase – helping you to investigate and assess the technological and commercial viability of transforming innovative ideas into new products or processes.
Industrial Research phase – enabling you to undertake practical research to acquire new knowledge and develop a basic working model of a new product or process.
Experimental Development phase – supporting you to implement the results of industrial research and develop a pre-production prototype.
Exploitation phase – to assist you with the costs of launching a new product or process on the market.