The study takes a closer look into innovations in high- and low-tech small and medium-sized enterprises (SMEs) in Europe, and proves that low-tech and innovation is not as far apart, as you might think.
Low-tech companies invest on average 10 percent of their total income in innovation. In comparison the average high-tech company puts 16 percent aside for their innovations. Expenditures for innovation include all efforts from idea generation to development, launch and successful continuous improvement of the innovation. Hence, innovation expenditures cover far more than just R&D spending.
The IMP³rove results from more than 700 companies show how ambitious low-tech companies are for innovation and how innovation expenditures contribute to their business performance.
To read the full, original article click on this link: Highly Innovative Low-Tech Companies? | InnovationManagement
Author:Eva Diedrichs & Sabine Brunswicker
