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.
BOZEMAN, Mont.–(BUSINESS WIRE) – 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.
“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.”
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.”
