Presentation

Innovation in food SMEs

The major hinderances for SMEs to innovate include lack of resources and/or allocation of said resources due to – SMEs’ small size and limited access to finance for venture capital.

Key Takeaways

Food sector in Europe:Largest manufacturing sector within the EU

Innovation and food:Orientated towards encouraging new ideas and fostering innovative employees

Even though the rate of incremental innovation is much higher than that with radical innovations, food SMEs in Europe also do undertake radical innovations

Product, process and packaging innovations:Include packaging innovation, as packaging plays a significant role in consumer behaviour

Although European food SMEs have a high level of engagement with position innovation, they have a relatively low level of commitment to investing significant resources in marketing

Relatively low level of engagement in partnering or strategic alliances with potential for significant improvement resulting in measurable knock-on benefits for companies

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Innovation in food SMEs

Key Takeaways

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