Commercialization and R&D

Commercialization and R&D refers to the process of transforming scientific discoveries, inventions, or innovations into commercially viable products, services, or processes through research and development (R&D) activities. It involves taking an idea or concept from the laboratory or research stage and developing it into a marketable offering that can generate revenue. Commercialization encompasses various stages, including prototype development, testing, manufacturing, marketing, and distribution. R&D plays a crucial role in this process by conducting further research, refining the product or service, and ensuring it meets market demands and regulatory requirements.