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The Impact of Design-driven R&D on Firm Performance and its Policy Implications

Author Seong Eol-yong, Kim Sang-hoon Cho Yoon-ae Date 2017.12.27 Page

Design-centered innovation is based on consumer needs, pain points, and latent desires. Its major strength is that products developed through this approach are more likely to succeed. While innovation is shifting rapidly from a technology-centered approach to a user- and consumer-centered one, the importance of design in R&D activities continues to increase. This study reviews the significance and necessity of design-R&D convergence in today’s digital economy, which has emerged as a result of the decline in manufacturing and advancements in IT. In addition, this study examines the application of design in private sector R&D and government support for design-technology convergence, and also surveys Korean companies that engage in R&D with the aim of analyzing the current status of design-technology convergence in Korea and the R&D outcomes that such convergence has produced. The purpose of this study is to provide innovation policy recommendations based on findings related to the achievements of design convergence in domestic industries.