Innovativeness is the Key to ensuring competitiveness and sustainability in the future. SMEs should also recognise innovation as a driver of growth in order to make them fit for the future in the fast-moving business world.

Innovation management enables SMEs to actively shape structural change. This may include the introduction of new product solutions/services, the optimisation of internal processes or the development of new markets/business areas.

 

Creation of an innovation culture (in-house)

The creation of an innovation culture starts at management level. Managers should emphasise the value of innovation and encourage staff to share their ideas and develop collaboratively in interdisciplinary teams. One open communication and regular feedback loops promote an environment in which creativity and innovation can emerge.

In addition, the Recognition of innovative services important – incentives motivate staff to participate actively in innovation processes. An inclusive, interdisciplinary approach involving all departments strengthens the innovation capacity of the whole company.

 

Identify opportunities and challenges

Every company can innovate! The first step is to: Identify areas, where innovation brings real added value. This may include the improvement of product solutions/services, the development of new markets/business areas or the optimisation of business processes.

At the same time, the challenges of innovation should be assessed realistically. Resource scarcity and limited expertise can be hurdles. By means of a Prioritisation and targeted investments however, significant progress can also be made with limited resources.

 

Use of technology and digitalisation

Technology and digitalisation offer a wide range of opportunities for SMEs to drive innovation. Cloud solutions, collaborative tools and process automation can increase efficiency and pave the way for new business models.

It is important not to be overwhelmed by the multiplicity of technological options. A stepwise approach, starting with targeted implementations, SMEs can reap the benefits of digitalisation potential.

 

Cooperation and networking

The Cooperation with other undertakings, research organisations or industry associations provides SMEs with access to a wide pool of knowledge and resources. Joint collaborative projects can unleash innovation potential that could hardly be realised on their own.

Successful collaborations serve as inspiration. From Exchange of know-how and pooling of resources create innovative solutions. This not only strengthens its own business, but also helps build an innovation ecosystem and strengthen the entire economic region.

 

In the Saarland EDIH, we offer many low-threshold formats for digitisation issues around internal processes, chatbots, etc. In particular, the East Side Fab will find the specific series of workshops on innovation management in 2024: With the support of a renowned agency for innovation management, we will engage in a practical and gradual approach to innovation management with SMEs:

• Building innovation units and managing innovation projects;
• Success factors and best practices;
• Exploitation pathways from innovation projects;
• Business cooperation and venture clienting.

If you have any questions about the workshop series and pre-notify, please contact: c.mayer-klein@edih-saarland.de.

Registrations for the first workshop are open: here