Co-creation better SME support through improving the process of investments in innovative ideas

ended

The main goal of this project is to increase the agencies efficiency in the field of capital investment management and financial support for innovative SMEs that are launching new innovative products/technologies (R+D) by finding tools and methods to improve the investment process, especially by facilitating the SMEs cooperation with corporate companies. Four innovation agencies (IAs) will work on the whole investment process for SMEs’ innovative technologies/solutions to ensure the best quality in the selection of the SMEs and their management staff and proposals. The IAs will also pay attention how to choose the best qualified and experienced experts to the process of evaluating ideas. Besides, the main emphasis will be put on the validation process in order to ensure the SMEs feedback from the potential business partners and facilitate them to start the cooperation with corporates companies and acquire the financial (short or long term) support. Innovation agencies involved in the project will work using twinning+ methodology in order to create valuable Design Options Paper regarding whole investment process including the selection of the SMEs, evaluation, validation leading to obtain the capital by SMEs. The new approach to investment process run by IAs can strengthen the position of innovation centres on the national and international arena as a high value added business support organisations regarding investment area and can limit the risk of investment in highly innovative SMEs solutions. The result of peer learning activities delevoped in the Design Option Paper will be implemented in the agencies as improved investment programmes and will be put into practice by IAs. The results of the project can enhance also the possibilities of obtaining by SMEs not only the short but also the long-term capital from business and financial partners what can enhance SMEs growth, competitiveness and facilitate their focusing on profitability of innovative solutions.