Innovation Support for SMEs

  • In NEWS
  • October 21, 2019
Innovation Support for SMEs

Learn about initiatives supporting SMEs.

One of our strategies for SMEs is to Leverage Government Initiatives. The Organisation for Economic Co-operation and Development (OECD) has a new paper on Innovation Support in the Enterprise Sector Industry and SMEs. It describes the rationale and methods for innovation support, presents case studies that include Industry 4.0 and identifies some monitoring and evaluation strategies. It explains how policy interventions tend to address scale-up companies and high tech SMEs.

The paper includes Austria’s Virtual Vehicle R&D centre (COMET), Denmark’s Manufacturing Academy of Denmark (MADE), Germany’s Central Innovation Programme for SMEs (ZIM), High-tech Start-up Fund (HTGF), SME (Mittelstand) 4.0, Israel’s, Innovation Labs programme, Sweden’s Produktion2030, United Kingdom’s High-Value Manufacturing Catapult Centre (HVMC), United States Small Business Innovation Research (SBIR) programme and New York’s Nanotechnology Cluster.

“The future of manufacturing in advanced economies depends on businesses’ ability to develop and benefit from technologies that open up radically new paths of innovation”

The paper identifies that encouraging innovation in SMEs is an acute challenge. Specialists are generally less prevalent in SMEs and there can often be too few staff with deep expertise in relevant technologies. SMEs have difficult choices to make between the large number number of fast-changing technologies and technology vendors.

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