Reinvent · Transforming SMEs in Creative Sectors through Business Model Innovation
FP7 — People (Marie Curie Actions)
- Duration
- 2013-01-01 → 2016-12-31
- EU contribution
- €1,397,211
- Participants
- 5
- Scheme
- MC-IAPP
Lines connect the coordinator with its partners. CORDIS does not always give exact coordinates for projects before 2014. These points are placed at city or country level.
Results in brief
Transforming SMEs in Creative Sectors through Business Model Innovation
Business model innovation has to do with inventing and implementing new models for doing business and creating value. A popular way to think about business model innovation is to think of coming up with a new "story" about how a business creates and delivers value. As such, business model innovation can be viewed as a process of transformation and reinvention (hence, the acronym for this project). Because of the unique importance of small and medium-sized enterprises (SMEs) and the creative sectors for Europe, Reinvent has SMEs in creative sectors as its empirical focus. Reinvent has developed knowledge about how SMEs in creative sectors – SMEs operating in both digital and non-digital markets – can implement business model innovation as a means to enhance competitive advantage, and has put this knowledge into practice in three SMEs. Reinvent has created opportunities to evaluate and validate business model innovation as a competitive tool for European SMEs through empirical research among SMEs in the partner countries. The research conducted in Reinvent is particularly relevant as Europe faces a broad range of challenges. Identifying the keys to creating successful business models with which solutions to these challenges – based on innovation and entrepreneurship in the creative sectors – can be achieved, is particularly urgent. Reinvent‘s comprehensive impact and dissemination strategy, including dissemination and networking aimed at the general public, policy makers, academia and industry, particularly SMEs, has yielded actionable recommendations. This is of value for European SMEs in creative sectors, which need approaches, methods and tools to develop competitive strategies. Developing the capability for business model innovation in SMEs across a range of creative sectors contributes to European firms’ ability to create and maintain competitive advantage. This ensures that the project impacts SMEs outside the consortium and, thereby, at a broad European level. The Reinvent Project web site can be found here: http://bmireinvent.com/ and a short documentary about the project here: https://www.youtube.com/watch?v=H4thGefJ72w&t=1s. Contact information: Marina Candi, Project Coordinator Reykjavik University Center for Research on Innovation and Entrepreneurship marina@ru.is
Data: CORDIS, © European Union
Project objective
Business model innovation has to do with inventing and implementing new models for doing business and creating value. As such, business model innovation can be viewed as a process of transformation and reinvention (hence, the acronym for this project).Because of the unique importance of small and medium-sized enterprises (SMEs) and the creative sectors for Europe, Reinvent will have SMEs in creative sectors as its empirical focus.Reinvent will develop knowledge about how SMEs in creative sectors – SMEs operating in both digital and non-digital markets - can implement business model innovation as a means to enhance competitive advantage, and put this knowledge into practice in three SMEs. Reinvent will create opportunities to evaluate and validate business model innovation as a competitive tool for European SMEs through empirical research among SMEs in the partner countries.The research to be conducted in Reinvent is particularly relevant right now as Europe faces the challenge of finding ways out of the current economic recession. Identifying the keys to creating successful business models with which recovery based on innovation and entrepreneurship in the creative sectors can be achieved is particularly urgent.Reinvent will have substantial impact for European SMEs, which need approaches, methods and tools to develop competitive strategies. Reinvent will develop, implement and evaluate tools for business model innovation. Developing the capability for business model innovation in SMEs across a range of creative sectors will contribute to European firms’ ability to create and maintain competitive advantage. A comprehensive impact and dissemination strategy has been devised, including dissemination and networking aimed at the general public, policy makers, academia and industry, particularly SMEs. This will ensure that the project impacts SMEs outside the consortium and, thereby, at a broad European level.
Original text from CORDIS.
Participants
Links
Data: CORDIS, © European Union