Your sentence gives rise to a couple of questions.
It refers to in the device development. This only makes sense if you have already referred to the device concerned as it implies a specific device.
If you are talking about devices in general, you would need to say in device development, without the.
If by master research project you mean a research project for a master's degree, you need to change it to my master's (degree) research project.
So, you probably mean one of the two following statements:
I have developed interests in (the) device development and characterisations, on which I have done my master's research project.
This means that your interests are in the development and characterisations, either of the device concerned - or devices in general (if you omit the)
I have developed interests in the development and characterisations of the device on which I have done my master's research project.
This means that you are interested in the properties of the device concerned - which you need to have specified.