A working prototype is nice but it won't do it in regard to the research. Research is accomplished for a variety of reasons. One that immediately comes to mind is proof. How can you demonstrate that the product you have designed is your own? How can it be proved that it is an idea you made manifest instead of adopting or stealing from others?
How many companies have you heard of being purchased by larger companies because of a great idea or product in order to get a company to pay you millions of dollars for a product or service you design?