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Innovation research cycle

Research and development transforms money into knowledge through experimentation and testing, while innovation transforms that knowledge into money through new products and services. A diagram shows the cycle between innovation, knowledge, and money, with research and development connecting innovation and knowledge, and innovation connecting knowledge and money.

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Innovation-Research Cycle “Research and Development is Innovation the transformation of money into knowledge. Innovation is the transformation of knowledge into money.” Dr. Nicholson, Retired 3M Vice President Knowledge Money R&D Copyrights © 2012Jamil Alkhatib 1

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Innovation research cycle

  • 1.
    Innovation-Research Cycle “Research and Development is Innovation the transformation of money into knowledge. Innovation is the transformation of knowledge into money.” Dr. Nicholson, Retired 3M Vice President Knowledge Money R&D Copyrights © 2012Jamil Alkhatib 1