Investment in research and development (R&D) refers to the allocation of resources, such as money and time, to create new products or improve existing ones. Companies and governments often fund R&D to drive innovation, enhance competitiveness, and address societal challenges. This investment can lead to breakthroughs in various fields, including technology, medicine, and environmental science. R&D plays a crucial role in economic growth by fostering advancements that can lead to new industries and job creation. For instance, pharmaceutical companies invest heavily in R&D to develop new drugs, while tech firms focus on creating cutting-edge software and hardware solutions.