Study finds budget constraints, leadership support, and skill shortages among top R&D challenges across industries; partnerships with government labs can help fill R&D gaps.
TechLink, the technology transfer partner for the U.S. Department of Defense and U.S. Department of Veterans Affairs, published its 2024 R&D Innovation Performance Study, offering a detailed analysis of the trends, challenges and opportunities shaping research and development (R&D) across U.S. industries. Conducted with The MPI Group, the study is based on responses from 152 executives and offers a comprehensive look at how R&D leaders are addressing the evolving demands of innovation.
As industries face increasing pressure to innovate, the study reveals a shift toward collaboration as companies look beyond internal resources.
“The 2024 R&D Innovation Performance Study shows companies are increasingly turning to external partnerships to overcome challenges like budget constraints and skill shortages,” says Austin Leach, TechLink’s Associate Director. “Technology transfer plays a significant role in these collaborations, giving companies access to specialized expertise, tools and technologies. These partnerships help companies accelerate innovation, derisk early R&D and bring solutions to market faster.”
Key findings from the 2024 R&D Innovation Performance Study include:
- Government collaboration: More than half (53%) of companies surveyed have collaborated with a federal lab in the past two years. Frequent collaboration nearly doubled from the previous study (20% in 2023 to 38% in 2024), emphasizing the value of federal R&D resources.
- Applicable government technologies: Many respondents note that technologies from government labs align well with their business needs, listing IT hardware (46%), artificial intelligence (36%) and software (31%) as the most relevant categories.
- Innovation challenges: Budget constraints (30%), lack of leadership commitment to innovate (21%) and lack of innovation skills or experience (19%) are among the top obstacles companies report facing in their R&D efforts.
“The 2024 R&D Innovation Performance Study highlights how successful R&D thrives on collaboration,” says John Brandt, CEO and founder of The MPI Group. “By adopting best practices and working with external partners, companies can speed development of new products and services.”
The executive summary of the 2024 R&D Innovation Performance Study is available here, providing further insights and data to help executives refine their R&D strategies. For more information, please visit https://techlinkcenter.org/.
About TechLink
TechLink is the authorized national technology transfer partnership intermediary for the U.S. Department of Defense (DOD) and U.S. Department of Veterans Affairs (VA), funded by the federal government to work with companies of all sizes to find commercial potential in technologies developed in DOD and VA labs. The organization facilitates technology transfer partnerships — linking labs with private industry for technology licensing, transfer, and joint R&D across virtually all technology fields — and, in doing so, improves speed and outcomes for companies navigating DOD and VA technology transfer opportunities.
Learn more at techlinkcenter.org
About the MPI Group
MPI serves corporate leaders with research, advice, and performance-targeted solutions that provide a competitive advantage in today’s global marketplace. MPI combines these disciplines with hands-on project leadership to create a difference—in performance, in profits, and in the people who make them possible.
MPI is known globally for research and thought leadership that define what it means to be a top performer—for both individual executives and organizations as a whole. The firm leverages research to provide insights and benchmark opportunities to leaders worldwide.
Learn more at https://mpi-group.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250408789488/en/
“Technology transfer plays a significant role in these collaborations, giving companies access to specialized expertise, tools & technologies. These partnerships help companies accelerate innovation, derisk early R&D and bring solutions to market faster."
Contacts
Media Contact:
Ally Hodapp
INK Communications for TechLink
techlink@ink-co.com
