Research and development as a function lies at the core of progress for any company or technology.
It is where innovations are turned into a reality, where new latent demands and needs are addressed in new features or products, and where existing products are enhanced to meet additional demands and garner further customers.
Unfortunately, in the Middle East, we do not have centres that perform research and development activities, major companies locate theirs in different locations of the world, either in the Far East, Europe or the US for example.
For Bahrain, this is a big opportunity that is overlooked.
Our kingdom has a huge untapped potential and many supporting factors that can be used to create ideal environments to host research and development centres from all over the world.
We have large numbers of fresh graduates in the field of information technology, specialising in computer science, computer engineering, networking, or management information systems.
These graduates have the needed passion and countless new innovative ideas that are just waiting to become real.
We have seen many of their creative thoughts being turned into actual inventions in their graduation projects and dissertations for their respective universities.
We have seen many exhibitions conducted by universities to showcase the graduation projects of their students to different companies that are looking to hire fresh talent and this is a clear evidence of the potential that young people in this region have.
Many of those projects can be patented, and others can be enhanced further to build feasible marketable products or services that can be sold and profited from.
With this potential, these graduates can form the foundation for research and development centres that can be located in the kingdom.
All these young minds only need someone to nurture them, and these centres are the best way to do so.
Further, we have an abundance of skills in Bahrain, we have local cadre who are well-trained, certified and educated in many fields and technologies.
And the labour force we have is strong and can serve greatly as the core of establishing and running the research and development centres.
Using such local labour will also reduce the potential costs of running these centres instead of relying on expensive expertise brought from other countries.
And it is without a doubt that expenses expected in Bahrain in terms of running businesses or establishments are very low, it will certainly help in ensuring feasible and economic operations of these centres along with their profitability.
In addition, these research and development centres can form ventures with different colleges and universities so that new projects and researches of new technologies can be made jointly benefiting from both sides; the marketing and commercial aspects from the research and development centres with the academic and theoretical aspects from the educational institutions.
Even corporations can participate in such ventures, whether they are international or local, to come up with new products and services for new customers or to satisfy some corporate needs that are critical in their operations.
There are other positive effects that can be obtained from establishing research and development centres, in an overall sense, they will strengthen the whole economy of the kingdom, they can act as catalysts and attract foreign investments and corporates, and the outcomes of these centres can be patented and exported to the rest of the world.
They will become building blocks and connectors between corporates and educational institutions for a strong fabric of economy.
Hence, we need to start planning for the establishment of these centres with small steps first by harnessing the local calibre and the local innovation, which will open the door for bigger research projects.
The author is a Bahrain-based management and technology expert