Research is done to create impacts on academic, economic, or social fields. Both the governments and private organisations are keen on conducting research work to improve their organisations in the fields of applied sciences, engineering, business and education. Successful research studies help expand a specific industry as well as share new discoveries to the general public.
Budget allocation is an important consideration when conducting a research study. The actual research can cost a lot, but the process doesn't end there. Research Commercialisation may also be done afterwards to develop new products or systems for a particular market.
How Important Is Research?
Research is an effective way to boost the status of an existing system or knowledge. For instance, in the field of medicine, research commercialisation is considered after completing a study to identify which treatments would work best for a specific condition or patient. Clinical trials which are conducted in accordance with Good Clinical Practice (GCP) have greater chances to be commercialised if found successful.
The business marketing industry also needs proper research work to improve the status quo of businesses. Additionally, a benchmark study helps companies to learn new methods to attract clients and offer good benefits to the employees. Large companies commonly have their own research and development department to concentrate on issues affecting the company. On the other hand, others may prefer to outsource services from an independent research company.
Creating New Products, Standards Through Research
Singapore is amongst the countries worldwide that pay attention to research and development. During 2011, the country allotted US$6.3 billion in its R&D. Other than the government, private entities are also keen on conducting studies to support the medical industry in the country. It is also crucial for clinical researches to observe the standards of Good Clinical Practice in Singapore.
Private researchers of a company won't have to worry about engaging in research commercialisation. On the other hand, if you're a separate entity, you can make a spinoff company or work with an institution to put out your work for the market to use. When you commercialise a research study, it will be protected with intellectual property and patent, but cannot be published for the public to access.
Budget allocation is an important consideration when conducting a research study. The actual research can cost a lot, but the process doesn't end there. Research Commercialisation may also be done afterwards to develop new products or systems for a particular market.
How Important Is Research?
Research is an effective way to boost the status of an existing system or knowledge. For instance, in the field of medicine, research commercialisation is considered after completing a study to identify which treatments would work best for a specific condition or patient. Clinical trials which are conducted in accordance with Good Clinical Practice (GCP) have greater chances to be commercialised if found successful.
The business marketing industry also needs proper research work to improve the status quo of businesses. Additionally, a benchmark study helps companies to learn new methods to attract clients and offer good benefits to the employees. Large companies commonly have their own research and development department to concentrate on issues affecting the company. On the other hand, others may prefer to outsource services from an independent research company.
Creating New Products, Standards Through Research
Singapore is amongst the countries worldwide that pay attention to research and development. During 2011, the country allotted US$6.3 billion in its R&D. Other than the government, private entities are also keen on conducting studies to support the medical industry in the country. It is also crucial for clinical researches to observe the standards of Good Clinical Practice in Singapore.
Private researchers of a company won't have to worry about engaging in research commercialisation. On the other hand, if you're a separate entity, you can make a spinoff company or work with an institution to put out your work for the market to use. When you commercialise a research study, it will be protected with intellectual property and patent, but cannot be published for the public to access.
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