Research and development is a great way to bring a company to a new level of innovation. When the investment is made to create an R&D department, a company can move from working on projects to creating projects.
- R&D.…What does that mean to you?…Is it just a tax credit?…Research and development.…Now, I've seen many companies really mistake…what categorizes as R&D on a tax credit application…for true research and development.…So let's talk through that.…First, on our annual survey we actually asked companies,…"What percentage of your budget do you allocate…"towards research and development?"…2015, only 32% of companies had an R&D budget.…
I'm happy to say one year later, 42.…We saw a 10% uptick in companies that had some type…of dedicated budget or staff for research and development.…Just to understand where the majority of this research…and development activity was going on,…we took a look at sales volume…versus presence of R&D department…and found it wasn't until $200 million in revenue…or building volume that we saw the presence…of an R&D department break 50%.…
Once we got to 500 million,…it hit almost 2/3 of the company.…Then we looked at number of employees…and saw the exact same thing.…Once we tip past 500 employees,…
Follow James Benham—the CEO of JBKnowledge, Inc.—as he explains how construction science and computer science are merging into one joint field of study. James shares essential terms that you need to know to speak intelligently about topics like the cloud and machine learning. Plus, he dives into topics like the Internet of Things, the evolution of drones, and 3D printing. To wrap up the course, he covers IT budgets, staffing, and investing in research and development.
- Learning about the origins of construction technology
- Reviewing essential construction tech terms
- Understanding the Internet of Things
- Reviewing the evolution of drones
- Learning about the 3D printing process
- Investing in IT
- Investing in research and development