Only 37% of European SMEs are seriously engaged in Business Model Innovation!
Business Model (BM) Innovation offers great potential for small and medium sized businesses to improve innovativeness and performance. However, according to a new study conducted by the Envision project, only 37% of Europe’s small and medium sized companies are seriously engaged in BM Innovation. The top 5 reasons companies undergo BM Innovation include minimizing costs, redefining product offering, scaling of business, price competition and changing customer needs. Drivers for BM innovation are strategic considerations, abundant technological opportunities and – surprisingly – low competition intensity. The more intensive SMEs do BM Innovation, the higher their overall performance. The study was led by Delft University of Technology and University of Murcia.
What is BusinessMakeover.eu portal and Envision project?
Businessmakeover.eu is an engaging online portal and platform for the SME community to come together and participate in challenges, learn whilst garnering inspiration for business model innovation across Europe. It contains 29 free, easy-to-use tools for business development in ordinary small businesses. The platform is featured in six languages: EN, DE, FR, PL, IT, ES and is provided by ENVISION, a European-wide project that aims to empower small-to-medium enterprises (SMEs). ENVISION gathers 9 partners and tens of umbrella organisations having direct access to SMEs. Currently, ENVISION has secured a partnership with 30 umbrella and academic organisations, making its potential to reach more than 18 million SMEs across Europe. ENVISION has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No 645791.
The project partnership has also created a MOOC including these Business Model tools.
All the MOOCs can be found through http://bit.ly/businessmodelinnovation.
Our fourth online course, on how to implement new business models, is starting 3 July. You can still enrol here: https://www.edx.org/course/business-model-implementation-delftx-bmi-4x.
Businessmakeover.eu portal won 1st prize with its beta version in November
The beta-version of the portal received prestigious Computable Magazine prize for ICT provider of the year for SMEs in November. The prize was handed over to the Envision project in a gala on 1st November.
For more information, go to businessmakeover.eu.