For our 2024 R&D Innovation Performance Study, we surveyed 152 U.S.-based executives across a range of industries to understand how they’re approaching R&D. Discover what innovation leaders are doing differently and where gaps exist.
Executive Summary
This in-depth report compares findings from the inaugural 2022 study to new 2024 data to show the how R&D strategy is actively evolving and the actions you can take now to make the biggest difference in your efforts, including:
- Plans and structures for innovation
- Prevalent R&D strategies and challenges
- Collaborative R&D with outside entities, such as government labs
- Innovation best practices and performance outcomes

Dig Deeper
Discover how companies in different industries and revenue brackets approach R&D, including
industry-specific innovation trends and tactics from our 2022 study.

The materials industry — including makers of plastics, rubber, textiles, polymers, ceramics, and wood — plays a key role in innovation across every sector. But materials manufacturers often fall behind other industries in deploying innovation best practices such as company-wide involvement in R&D. Discover how the materials industry innovates compared to other sectors and learn how to enhance your R&D strategy.
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The machinery industry — including manufacturers of industrial equipment and tools — frequently redefine market standards and operational efficiencies. As the backbone of production, machinery industry innovation leaders need to crowdsource multiple perspectives to make product improvements. Machinery R&D strategies are more likely to call on non-R&D departments to inform innovation. But what else do R&D leaders in the machinery industry do differently?
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The electronics industry – including makers of semiconductors, integrated circuits, conductive materials, and electronic components — serves as the backbone of technological advancement for many sectors. And customers are willing to pay higher prices for new devices if they deliver the latest and greatest. To keep up with demand for innovation, the electronics industry is more likely to employ best practices during R&D compared to other industries. Explore the most effective tactics for electronics companies and learn how to enhance your R&D strategy.
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The software industry — including developers of operating systems, applications, and programming tools — stands as the cornerstone of digital innovation across sectors. To keep up with the constantly evolving software landscape, developers are more likely to implement innovation best practices than other industries. Discover the R&D tactics that work for innovative software companies.
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The consumer durables industry — including manufacturers of appliances, furniture, and other household essentials — enables the convenience and comfort in modern living. As such, the industry is highly influenced by its customers and other external entities like suppliers, consultants, and government laboratories. Learn the other R&D best practices most frequently used by consumer durables companies and how to enhance your R&D strategy.
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Small businesses are essential to the innovation pipeline. With their agility and willingness to take risks, small businesses shape the future of industries by challenging established norms and sparking competition. But small businesses usually focus on perfecting a core product and are less likely to use R&D best practices to generate ideas for the future. Discover R&D innovation gaps that many small businesses fall prey to and how to avoid them through R&D best practices.
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Large corporations, with their substantial resources and expansive reach, have the capacity to invest heavily in R&D. Large corporations often lead industry-wide initiatives that have far-reaching impacts on global markets. Learn the formula that large corporations follow to enhance R&D strategy and how it differs from small business competitors.
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2022 STUDY
Explore data and insights from the 2022 R&D Innovation Performance Study
Study Methodology
What is the TechLink R&D Innovation Performance Study?
The study examines company structures and outcomes for innovation efforts, highlighting best practices and performances as products and services move from ideation to development to market.
Research Objectives
TechLink’s R&D Innovation Performance Study establishes benchmarks for companies to measure and improve the innovation process. Our findings can help companies identify gaps in existing R&D processes and recognize opportunities to improve ideation strategy and execution.
Research Methodology
The R&D Innovation Performance Study surveyed 152 U.S. business leaders in July and August in 2024 across a range of industries and business types. Industries represented include, but are not limited to, high-tech electronics, materials, medical, and software. Business leaders surveyed hold at least the title of manager, with 26% of respondents identifying as a member of the C-Suite, and 16% identifying as an owner, partner, principal or chairman of the board. Participants span privately-held, employee-owned and publicly owned companies. The study was conducted by MPI Group.