Building up Innovation through Networking and External Funding for SMEs
Another superb Vital Importance seminar organized by Digipro Computer Consultants.
This valuable seminar offered insights on how to develop new strategies, new systems and new policy instruments that Small Enterprises need to ‘discover’ fresh ideas, access external funds and other resources and find new partners.
Small Enterprises need to innovate if they want to grow – some say if they want to survive in the long-term. Innovation takes a different shape depending on the stage of the company’s lifetime. Younger Small Enterprises enjoy abundant reservoirs of creativity; their leader(s) have several ideas of how to approach a market in a ‘fresh’ way and how to offer a radical new solution to existing customers or even approach a new set of customers. However, innovation requires much more than creativity. Innovation is about using the creative ideas to ‘complete the journey’, for instance finding the funds and other required resources, identifying suitable partners, form a relationship with them and most importantly making sure that the Small Enterprises captures the value out of the developing innovation. In several cases young Small Enterprises fail to do this; typical example the young company overwhelmed from the power of (their) fresh ideas while underestimating the significance of market alliances.