Supporting SME Innovation

Innovation is the key for productivity and long-term growth. Small and medium-sized enterprises (SMEs) are on average less innovative than large enterprises, but some of them can be or become highly innovative and can reach productivity levels above those of large companies. Supporting innovation in SMEs can foster inclusive growth. Companies which develop and use their internal strategic resources effectively (e.g. managerial and workforce skills, ICT, R&D, etc.), and collaborate with external partners in the innovation system, have better innovation performance.  

SMEs however often face larger barriers on capital and labour markets than larger established businesses. Given the specific circumstances SMEs are currently facing, countries have put measures in place to support them. With a major focus on public health, a wide array of measures are being introduced to mitigate the economic impact of the Covid-19 pandemic on businesses. Specifically, many governments are urgently deploying measures to support SMEs and the self-employed during this severely challenging time, with a strong focus on initiatives to sustain short-term liquidity. Such policies take various shapes. Some countries have focused on more general policies that have the potential to cushion the blow for the economy and for all businesses, such as support from Central Banks in lending by alleviating monetary conditions and enabling commercial banks to provide more loans to SMEs.

Authorities can support innovation in SMEs by fostering a sound business environment, helping them to fund, develop and use their internal strategic resources effectively, while building an innovation system including supporting services and that is effective in the commercialisation of research and inclusive of a large range of SMEs.

Small and medium-sized enterprises account for 99.8 percent of all businesses across Europe. In 2018, there were over 25 million SMEs in Europe (EU-28), of which 93 percent were micro-enterprises (with fewer than 10 employees). They are considered by the European Commission to be the drivers of economic growth and innovation, the ones that can quickly transform research results into marketable and competitive products. Therefore, SME funding is an important building block of the European SME policy.

News

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Events

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Organisations

  • Digital Serbia Initiative

    Digital Serbia Initiative is a non-profit, non-governmental organisation with the strategic goal of developing a strong, globally competitive digital economy in Serbia. The initiative aims...

  • Innovation Fund of Montenegro

    Innovation Fund of Montenegro was established by the Government of Montenegro one year ago as national umbrella institution for implementation, funding and coordination of measures and innovation policies...

  • Women in Tech

    Women in Tech® is an international organization with a double mission: to close the gender gap and to help women embrace technology. The organization focuses on 4 primary areas that are a call for...

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Calls

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Documents

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Links

  • INNOVATION crash course | The importance of Innovations Part 1

    The importance of innovation: why innovation matters today for business successes. This is the chapter one of the Crash course on Innovation by Paul Robinson. Innovation leads the way to change in the...

  • Innovation policy and evaluation

    This educational video is part of the activities of the first national platform on enterprise and industrial policy "Chapter 20". The activity is part of the project "Strengthening the capacities and ...

  • Circular Economy: Policies and Practices

    Циркуларна економија: политики и практики This educational video is part of the activities of the first national platform on enterprise and industrial policy "Chapter 20". The activity is part of the...

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Projects

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