Open Innovation

Strengthening Innovation in SMEs

JournalIndustrie 4.0 Management
Issue Volume 39, 2023, Edition 6, Pages 17-21
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Abstract

Despite the fact that SME innovation is critical to a country’s economic success, SMEs spend less than 50 % of their budget on R&D when compared to large companies. “Open innovation”is seen as helping SMEs to improve their competitive position. For regions dominated by SMEs it is important to develop an ecosystem that supports open innovation processes. Universities can be key enablers within these ecosystems. They support SMEs with their expertise in science and engineering as well as in innovation and project management. In this article we present a case study to demonstrate the role of a university of applied sciences in an open innovation ecosystem.

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Potentials: Innovation

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