Our EU Trend Reports tackle innovative business practices from a policy perspective. They help policymakers better understand the latest trends in business and industry innovation and provide specific policy recommendations to unleash the potential of European businesses and scale-up successful innovative solutions in the EU. Two trend reports are published every year, drawing on case studies and conference outcomes.
This first trend report for the EU’s Business Innovation Observatory was authored by Dr. René Wintjes. The main messages are:
- The companies that drive the trends of ‘Advanced Manufacturing’, ‘Public-Private Partnerships’, ‘Big Data’, ‘Workplace Innovation’, and the ‘Sharing Economy’ have developed innovative solutions addressing the challenges of other companies and society at large. However, despite the socio-economic benefits that could potentially stem from a broad adoption of their solutions, the front-running companies need to be embedded in an environment that helps them demonstrate such solutions – thereby increasing the likelihood of their adoption;
- A higher demand is needed for scaling up innovative business models and practices and increasing their socio-economic impact and competitiveness. New trend-specific framework conditions will increase the number of trend driving companies, and diffuse their solutions to other companies;
- Since one generic format cannot be recommended to all companies, those involved should ensure their staff are adequately educated as regards new models and practices. Companies should also be offered financing in the form of loans, to increase the likelihood of optimal success in the implementations of their solutions;
- One of the main barriers to a wider up-take and scaling up of the innovations is the scepticism and the conservatism of potential customers.