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Innovation for SMEs and its importance for the European Union

European policy regarding SMEs is very clear. They are considered to be the backbone of the European Economy and for a good reason. Small and medium enterprises are the ones that drive the local economy. Big corporations always have the lead of course but, the bigger the corporation, the bigger the risk.

However, as the world evolves, so must SMEs. And unfortunately, individual SMEs are finding themselves at a disadvantage. Acquiring the knowledge needed in order to procure innovation within the European borders is not always easy to do. And by being an individual SME owner with little to no experience in the field of innovation, things can be much more complicated.

Innovating your business, requires time, managerial spirit and most importantly a good strategy. All of that, of course, based on an innovative idea. That idea is something that you will need to come up on your own. No one will give you the idea that will change your business. The rest, however, you can learn through training for both you as well as your employees.

It is part of Europe’s policy to inform and educate the owners and the employees of SMEs on how they can take their business to the next level. Through lesson that will cover everything, from digital skill gap all the way to the implementation of your idea using the latest technological means, your SME will grow and evolve into something bigger and more profitable.

The European Union knows that by following this policy, the competitiveness of the European economy and the European service providers will improve and the productivity of the European SMEs will increase. Therefore it must not come as a surprise to learn that projects specified to teaching SMEs about innovation in the world of business are a very big part of the big financial European frameworks like the Horizon 2020.

These projects aim at identifying and attracting SMEs whose innovation potential could be increased as users of advanced HPC services, and a mechanism involving financial support to third parties which will adequately stimulate such innovation potential of participating in the action. By achieving that many European SMEs will benefit and take a step forward. A step that will bring forth a new era for the European economy, focused on SMEs and the local market to increase the European Financial Authority!


Thodoris Alexandrou
Business Development Manager

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