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Case Study: Regional SME Development Project Brings Innovation Lift to Manufacturing Hub

Innovation 360 Group

While they don’t have the same resources as large corporations, SMEs can potentially be quite innovative. The EU funded-development project was launched in 2016 with 8.2 It brought together a coalition of regional business development organizations from Nässjö, Vaggeryd, Sävsjö and Jönköping. million Swedish crowns.

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Balancing Large and Small Firm Capabilities

Integrative Innovation

development of existing business) and exploration (i.e. The corresponding integration of incremental and radical innovation can basically be achieved in different ways: Building ambidextrous and lean startup capabilities. Teaming up with small firms or startups. This angst is largely misplaced.

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Key Innovation Issues for 2016 and Beyond

Integrative Innovation

But even participating in other firms’ ecosystems can be highly attractive, as demonstrated by e.g. several app developers. Conclusion: developing a culture of experimen-tation is vital for both building new businesses as well as for competing in existing businesses – with distinct characteristics, though.

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When innovation led to a reversal of fortunes

hackerearth

The company found a low-risk, high-reward “around the box” innovation strategy, one that is well-informed. The company focused on this third approach, one of producing low-risk innovations revolving around its core product. The company encourages open innovation via Lego Ideas. Source: Bearing Consulting.