, sharing costs, sharing risks, faster product introduction, etc. to small firms in low-and medium-tech industries.
White space represents the business opportunities outside a company's current businesses that require a different business model to exploit.
Facing the risk of bankruptcy, reinventing the barometer was the only way out. With the help of a few innovation partners and subsidies from IWT (the Agency for Innovation by Science and Technology in Flanders) the open innovation journey started.
Turning businesses under the threat of commoditization into genuine experiences for customers is a difficult target for SMES
Accell took the commercial risk to buy the B lite at a predetermined price if Curana and its partners succeeded in producing the product before a particular deadline.
Lighting, for instance, is regulated highly on security issues, and a company such as Curana has no idea how to cope with these challenges.
and small innovation portfolios such that risks associated with innovation cannot be spread. SMES must rely on their innovation networks to find missing innovation resources.
It is about sharing risks, investing time and money together in new concepts. A company that engages in open innovation, therefore
Open innovation is not only about sharing costs and risks but also about sharing profits equitably. 71 6. Developing an open innovation network also requires that partners manage the balance between internal management of the company and external management of the network.
sharing costs, sharing risks, faster product introduction, etc. to small firms in low-and medium-tech industries does not make sense.
or risks they take. 3. Innovation networks need to be activated continuously. Inactivity is deadly for the network strength and partner commitment.
Furthermore, large firms that license technologies risk knowledge leaks with adverse competitive effects as a consequence.
In this way, the business unit can balance the risk of increased competition in the market with the royalty income it receives from licensing the technology.
because the venture needed considerable investments which were too big a risk for VCFS 80 in an early investment stage42.
because the risk of misappropriating the technology is very real. Philips'extensive evaluation of the technology did not pose a risk for the small engineering company,
however, because Philips'was reputed as a reliable innovation partner. Philips relies recurrently on new technologies from universities, specialized research labs,
Partners may have to bear considerable risks or investments in dedicated complementary assets. In open business models,
Building strong ties to cope with environmental and relational risks. The biggest challenge in an open innovation network is the market and technological risk on the one hand and the relational risk on the other hand.
Business model innovations are high-risk ventures because a firm must search for new technologies and develop new products.
Each entrepreneur we met took risks, sometimes considerable, and made investments. Imagining a new product is one thing,
and resources needed to successfully exploit new insights that they have on their market. In opening their innovation processes
on the one hand, for different, better or cheaper products and services and, on the other hand, to mobilise or exploit the opportunities and capacities within their value chains.
Provide the very much larger investment funds (risk money) businesses need for new products or services (or whole businesses) to go to scale.
Willingness to take risks, to change and to collaborate with others were used as indicators of an innovation culture.
A culture that supports risk taking and collaboration also supports innovation. Of the three culture-related indicators surveyed,
%0 20 40 60 80 100 Willingness to change Problem solving Project management skills Coming up with creative ideas Networking with others in your sector Willingness to take calculated risks
risks Willingness to collaborate with others on new developments Responding to changes in your market
A culture that supports innovation can be fostered through a risk-taking attitude and an encouragement for openness and collaboration across different internal teams and external partners.
but this dropped to just over 40%for willingness to take calculated risks and willingness to collaborate with others on new developments.
There are powerful disincentives to those taking on the risk of entrepreneurship and many of these are matched not with corresponding gains.
whom is willing to take risks and persevere through endless turmoil to establish each single, vibrant business.
and proactive, being willing to take some risk, and taking personal responsibility. Innovation, the hallmark of entrepreneurial opportunity, is doubted too often
(Interactive Learning), Changingworlds (Personalisation), Network365 (Mobile Payments), Datalex (Travel Software), Trintech (Online Payments), Baltimore Technologies (Security), Glockenspiel (Compilers), Euristix (Network
Management), Mapflow (Risk Intelligence. The environment created over the last 5 years may have placed Ireland on the cusp of a similar innovation revolution.
Effectively, apart from security checks performed by the Department of justice this enables a job offer from an approved company to be nearly the same as a visa,
Society's culture and attitude directly influences the individual's capacity for creative thinking and attitude to risk.
the level of risk-averseness in individuals and the proportion of new businesses started by women.
GEDI Pillar Comparison Opportunity Perception Risk Acceptance Gender Opportunity Startup Start-up Skills Risk capital Cultural Support Product Innovation Process Innovation Networking Competition
including opportunity perception (the proportion of the population that can identify good opportunities to start a business), gender (the proportion of female entrepreneurs), cultural support and risk acceptance or fear of failure.
Much work is being undertaken by the Government to promote entrepreneurial role models, foster positive attitudes to risk taking, teach basic business management and financial literacy and address skills gaps.
Less access to finance and lower levels of risk taking; Low self-confidence; Limited female networking opportunities;
Ongoing focused work will be required in such policy areas as access to finance, tax, reward for risk, administrative and regulatory burdens, exporting,
this free on-line risk assessment tool is aimed specifically at Small and Medium Enterprises and has the potential to bring about €50 million in compliance cost savings for business.
Local Enterprise Offices and Údaras na Gaeltachta to exploit fully the enterprise assets of their community and foster new thinking in the enterprise area Each LEO will develop a Local Enterprise Development
Equally, innovative products, processes and services need entrepreneurs who are prepared to take risks and develop appropriate business strategies to bring ideas to market.
This is intended is to reduce the barriers to risk taking in order to transfer IP rapidly into the hands of companies well positioned to exploit it commercially.
Research contracts for Graduate student projects with industry KTI is working with The irish Research Council to clarify how IP is treated in its Employment-Based Postgraduate programme with the aim of increasing certainty and security for participating companies.
or operate in categories perceived by the commercial banks as being high risk. The scheme provides a 75%State guarantee to banks against losses on qualifying loans.
and connectivity to help the network's members exploit opportunities. EI will roll out online networks to other client groups in coming months.
while at the same time providing the public sector with new, cost effective solutions, developed in a risk free environment,
TEA Female Opportunity Start-up Opportunity Freedom Entrepreneurial Attitudes Sub-Index Cultural Support Career Status Corruption Networking Know Entrepreneurs Internet Usage Risk Acceptance
Risk Acceptance Business Risk Start-up Skills Skill Perception Tertiary education Opportunity Perception Opportunity Market Agglomeration Note:
, national and homeland security, environmental protection, assisting the needy; but by increasing investment and spurring more work effort, America can begin closing its three deficits
Increasing the full retirement age will reduce Supplemental Security Income (SSI) payments and generate more federal tax revenues as workers work longer. 33 The government should also increase the eligibility age for Medicare at the same rate as for Social security. 34 In addition,
energy, and security. At Battelle, we are cautiously optimistic that U s. R&d funding growth will recover after a flat 2013.
notably aerospace, defense and security, were also subject to funding reductions and increased uncertainty. The impact on revenue led many firms to restrain internal R&d activity in 2013,
Through basic and applied research, these globally recognized institutions pursue missions in energy security and other areas of national importance.
which makes ten recommendations that recognize the association between university research and U s. prosperity and security.
and the prospects seem good for realization of the original policy goals in energy security and environmental protection that stimulated early public investment.
supportive environments ecosystems that enable risk-taking and catalyze enterprise formation. Well-known examples include the dedicated Research Triangle in North carolina
spanning semiconductors, telecommunications, productivity or security software, computers, tablets and gaming. Across all these applications the integration of smaller, faster, mobile,
Continued development of wireless technologies was cited by nearly half (49%)of the respondents, cybersecurity capabilities (46),
Battelle/R&d Magazine, Schonfeld & Associates, European commission-JRC/EIRI 26 R&dmagazine December 2013 www. rdmag. com INDUSTRY BREAKOUT AEROSPACE, DEFENSE & SECURITY
Summary R&d among aerospace, defense and security firms is driven primarily by two sectors: the U s. Department of defense (DOD) and the global airline industry.
The major aerospace and defense contractors plan R&d in close coordination with DOD to meet the needs of national defense and global security,
Internal R&d and technological integration in materials, electronics and communication and surveillance technologies within both civilian and defense aerospace, is partially offsetting reduced government funding by creating more efficient, cost-effective capabilities.
and we project(-1. 2%)retrenchment for aerospace/defense/security industry R&d, reaching $12. 6 billion.
Trends and Forecast The aerospace, defense and security (ADS) industry comprises the major aerospace firms almost all serving both military and commercial aerospace markets.
Battelle/R&d Magazine estimates Aerospace/Defense/Security Industry R&d Spending 28.0 27.3 26.6 26.4 13.2 13.1 12.8 12.6 $10 $20
growth in commercial aviation and nontraditional defense and homeland security technologies, such as UAVS, will continue to provide momentum in ADS R&d investment.
Growth in the deployment of UAVS, primarily (but not exclusively) from increasing military demands, is driving R&d related to structures, materials, electronics and communication and surveillance technologies.
As border security and civilian uses of similar autonomous vehicles emerge over the next few years,
R&d efforts will evolve to develop payload and sensor platform technologies for a wide array of new applications.
industry leaders are looking for ways to increase R&d efficiency and spread the financial and development risks.
Changing Technology Landscape Given the competitive nature and security requirements of the U s. and global ADS industry, it is not surprising that inhouse development (identified by 85%of the respondents) is by far the most important mechanism for technology development.
Among the ADS respondents, development of cybersecurity technologies also has taken on increasing importance. 45%of the respondents in our current survey cite it as a key development area,
All Industry Respondents 0%20%40%60%80%100%Aerospace/Defense/Security sector The two largest global aerospace/defense/security R&d
Though this involvement is often necessary to reduce technology and market risks, it also creates financial
and national energy security pressure behind in development of alternative and renewable energy technologies. In the U s.,government-supported research in these areas continues,
yet nearly half (45%)feel that the U s. is at a moderate to significant risk of losing its leadership position in key material areas.
closely followed by government S&t understanding, fossil fuel availability and the threat of another global recession.
At risk of some exaggeration, it seems fair to remark that due to the dedicated support available,
related risks, etc. Indeed, dominant part of the resources was allocated in the form of direct cash transfers to companies,
It underlines that the high risks that characterise R&d projects were mitigated not effectively for SMES:
The evaluation suggested that project selection process should incorporate a (compulsory) mechanism of risk assessment.
Without this commitment from the Taoiseach and his office the Action Plan process would risk becoming simply another plan that gathered dust on a shelf.
Such adverse cost developments put all of the recent hard-won competitiveness gains at risk. We need to sustain our efforts to get to a top five ranking in competitiveness.
The RFT reflected the requirements of licensing authorities including managing licence application forms, registration of licensees, managing licence applications and renewals, remittance of licence fees, transmission and security of data
to the extent that it becomes involved in risk measures, with the EIF also. The SBCI's participation in EIB Taskforce of National Promotional Banks is indicative of the type of engagement that is now possible with the establishment of a national SME-focused promotional lending institution.
the advantages and risks associated with them, and how best to leverage these different sources including the potential synergies between different financial instruments.
and conditions of payments runs the risk of cutting firms off from this type of funding rather than making it more accessible.
and support to Enterprise Ireland supported companies and research institutions in the defence and security sector in the area of research and innovation (D/Defence) 155 Include the needs of family owned businesses
South East and North East. 2015 ACTION PLAN FOR JOBS 91 Sample events planned in each city for the following days include Startup Weekends, Hackers/Founders team
DECLG) 223 Introduce an on-line Private security Authority licence renewal and payment facility for businesses. D/Justice and Equality) 224 Move to an e-process for insurers to notify of motor insurance policies that are cancelled prior to their expiry,
and to reduce the risk of project failure. NSAI) 114 10. Stimulating the Domestic Economy The preceding sections outlined the measures the Government will take in 2015 as part of our continuing export-led approach to employment generation.
Social innovation often recognises, exploits and coordinates assets and resources which would otherwise be wasted, under-used
define, and exploit opportunities in order to enhance social wealth by creating new ventures or managing existing organizations in an innovative manner (p. 522).
4) is willing to accept an above-average degree of risk in creating and disseminating social value;
To avoid these risks, the Handbook puts special emphasis on documentation and metadata. In particular, the Handbook recommends the preparation of relevant documentation at the end of each phase
The results of business tendency surveys are combined usually into composite indicators to reduce the risk of false signals,
1. Assurance of integrity: What are the features that support firm adherence to objectivity in the production of statistics,
To minimise the risks of producing meaningless composite indicators, sensitivity and robustness analysis are required. Analysis of this type can improve the accuracy, credibility and interpretability of the final results.
sensitivity checks can help distinguish between significant and insignificant differences, thereby minimising the risk of misinterpretation and misuse.
and Adams R. E. 2004), Compassion Fatigue following the September 11 Terrorist attacks: A Study of Secondary Trauma among New york city Social workers, International Journal of Emergency Mental health, Vol. 6, 2: 1-10.
Gall M. 2007) Indices of social vulnerability to natural hazards: A comparative evaluation, Phd dissertation, Department of Geography, University of South carolina.
GOVERNING BODIES IN SMART GRID DEVELOPMENT The U s. Smart Grid Initiative is the official policy of grid modernization in the U s as formalized by the 2007 Energy Independence and Security Act (EISA07
2) dynamic optimization of grid operations, including cyber security; 3) deployment of distributed resources, including renewable resources;
1) security of supply; 2) sustainability; and 3) market efficiency. In addition, six goals have been set for the EU energy strategy:
1) to achieve the highest levels of safety and security; 2) to achieve an energy-efficient Europe by improving buildings, transportation, and distribution grids;
but may introduce the risk of increased susceptibility to cyber intrusions by malicious agents 26.
and analysis. F. Distribution Automation and Protection Smart grid technology supports a wide range of applications in power systems, such as protection and automation of the distribution system and security.
and security of supply. Protection deals with the detection and clearance of abnormal system conditions such as faults and overloads.
particularly as the complexity and interactions of several market players significantly increase the risk for large-scale failures.
Local controllers may ensure that each island is operating within the security limits, safeguarding the electricity supply to its customers 34.
The operating security is also critical as shown by the Stuxnet case 44. The establishment of standards for smart grids is also a crucial step.
while the U s. needs to increase security and to respond to the predicted growth in demand for a long-term vision.
vol. 3, no. 5, pp. 34 41, Sep. Oct. 2005.3 S m. Amin, Balancing market priorities with security issues, IEEE Power Energy Mag.
Independence and Security Act (EISA07), Dec. 2007.10 Framework and Roadmap for Smart Grid Interoperability Standards, 2010, Release 1. 0. 11 European commission, COM (2010
Drivers, 2006, pp. 12 16.25 A r. Metke and R. L. Ekl, Security technology for smart grid networks, IEEE Trans.
Smart Grid, vol. 1, no. 1, pp. 99 107, Jun. 2010.26 S. Clements and H. Kirkham, Cybersecurity considerations for the smart grid, in Proc.
and Security of Critical Infrastructure Systems (2009 2013). His research interests include synchronized measurements in power systems, security and reliability of the power system network, optimization of power system operation techniques, modeling of electric machines,
and renewable energy sources. Sid Suryanarayanan (S'00 M'04 SM'10) received the Ph d. degree in electrical engineering from Arizona State university, Tempe, in 2004.
Issues of security should not be underestimated by policymakers or industry leaders. The survey confirms that SMES do not yet have full confidence in the digital solutions on offer and,
and the nature of the security fear more thoroughly understood. ACCA will seek to work with the industry
the differences between providers and the risk behind each option. Ensuring that small business owners are able to make these informed choices will involve a coordinated approach from the industry,
In a survey of European SME perspectives on cloud computing, the security of corporate data and potential loss of control featured highly among the concerns for SME owners (ENISA 2009
Overall, accountants with a greater understanding of cloud computing cited security concerns as the major obstacle to adoption,
The cloud computing industry needs to have a better understanding of the nature of the reported security fear
Lack of cost effective solutionslack of universal platformslack of access to fast internetlack of government actiontoo complexperceived security risklack of government initiativesno need, customers don't require thislack of access
customers don't require thislack of government initiativesperceived security risktoo complexlack of government actionlack of access to fast internetlack of universal platformslack of cost effective solutionshas some expertisehas no expertise0%25
platformslack of access to fast internetlack of government actiontoo complexperceived security risklack of government initiativesno need/customers don't require thislack of access to appropriate specialists/advisers/consultantslack of support
customers don't require thislack of government initiativesperceived security risktoo complexlack of government actionlack of access to fast internetlack of universal platformslack of cost effective solutions0%25%50%SMES
awareness and perceived risk are reported rarely as a problem and the most common obstacle (though no more common here than elsewhere) appears to be a lack of demand no interest from customers.
of universal platformslack of access to fast internetlack of government actiontoo complexperceived security risklack of government initiativeslack of need/customers generally don't requirethislack of access to appropriate specialists/advisers/consultantslack
customers don't require thislack of government initiativesperceived security risktoo complexlack of government actionlack of access to fast internetlack of universal platformslack of cost effective solutions0%25%50%Eastern
Europeothersengland, Scotland, Ireland 10 Since the near-failure of the banking system in 2008, the combination of low interest rates, rising risk-aversion among providers of finance,
Too expensivelack of awarenesslack of support from bankslack of access to appropriate specialistsno need, customers don't require thislack of government initiativesperceived security risktoo complexlack of government actionlack of access to fast internetlack
of government actiontoo complexperceived security risklack of government initiativesno need/customers don't require thislack appropriate specialists/advisers/consultantslack of support from bankslack of awarenesstoo expensivesmes are not using P2pfinancesmes are using P2p
Generally speaking, lack of awareness, security risks, a lack of demand and a shortage of cost-effective solutions tend to prevent SMES from engaging in e-commerce, according to ACCA members (Figure 6). As with other aspects of the digital agenda however,
security risks tend to be the primary obstacle, showing that these may not be perceived only the risk borne out by the fear of the unknown,
but potentially a genuine problem that needs to be understood and addressed by the industry and other stakeholders.
0%10%20%30%40%50%Lack of cost solutionslack platformslack of access to fast internetlack of government actiontoo complexperceived security risklack of initiativesno need
Too expensivelack of awarenesslack of support from bankslack of access to appropriate specialistsno need, customers don't require thislack of government initiativesperceived security risktoo complexlack of government actionlack to fast internetlack of universal
and that is the real risk of overestimating the reach of the European digital market. Considering that some 30%of Europeans have used never the internet (European commission 2010a),
efforts need to be made to manage the risk of excluding and penalising a significant proportion of enterprises through wider adoption of any of the digital solutions discussed in this report.
On the other hand, lack of demand, risk, cost effectiveness, lack of advice and availability of reliable internet access are‘second generation'problems more common in sectors that are more familiar (though still not very much so) with the technology.
security fears or lack of access to specialist advice, accountants and other advisers can provide important links to the SME sector.
ENISA (European Network and Information security Agency)( 2009), An SME Perspective on Cloud computing, online report,<http://www. enisa. europa. eu/act/rm/files/deliverables
new markets New business models Enhancing quality of life Creating new and sustainable jobs Material security Resource justice economy environment society politics Figure 2:
Prepare to take risks: changing a business model is a continuous process. Integrate an ongoing strategic reflection of your business model.
mitigating risks related to the use of chemicals and improving the data management of the chemicals2. www. aga. com CAR2GO:
Saves costs of raw materials, transport, storage, management etc. over relatively short time periods and with generally low-risk investments.
The World Economic Forum (WEF) Global Risks Report 2012 ranked extreme volatility of commodity prices as the fifth most important risk in terms of potentially negative impacts7.
especially for fossil fuels and metals8. 3. 2 Material and energy productivity Many companies are exposed to risks of raw material supply shortages,
World Economic Forum Global Risks Report 2012, www. weforum. org/reports/global-risks-2012-seventh-edition 8 European Environment Agency 2010:
and energy productivity can save costs and lower risk by making companies less dependent on imports.
What are the risks and opportunities of implementing a sustainable supply chain management approach? Eco-innovate!
Evaluate risks and opportunities through a risk management approach or an opportunitybased approach. Establish a common language Set sustainability targets and procurement criteria for the supply chain.
Evaluating risk, especially long-term costs and benefits may be challenging. Understanding the environmental impacts across the life-cycle is essential,
price, cost reduction, risk reduction, accessibility, convenience and/or usability? How does improved envi-Business case for eco-innovation Feedback from market research
and other stakeholders environmental awareness and understanding may help to reveal business opportunities or threats.
What are associated the risks with each source of funding? What types of free or subsidised funding or business support is available from government programmes or SME business support agencies in your country?
and their capacity to exploit'network effects'to scale up or join forces and multiply the potential of grass-root initiatives across social networks.
the legal rights-related issues of social network such as the management of personal data and the potential economic value of users activities on social networks and the engagement and security issues of CAPS. 6 Tab. 2-CAPS ongoing project
the European Investment Bank (EIB) could consider widening the scope of applications, in particular by broadening and deepening risk-sharing operations,
the EIB could consider widening the scope of applications, in particular by broadening and deepening risk-sharing operations,
Mezzanine), funded risk-sharing facilities with banks (investors) 4 Investment lloans Investment lloans RDI financing Midcaps/Large corporates/public sector entities (investment
TOWARDS EUROPE 2020 Box 2. The EIB Risk-sharing Finance Facility An example of funding available for innovative firms during the development phase is the EIB's risk-sharing finance facility
o Establishing an integrated venture capital market in Europe o Expanding the permanent risk-sharing products of EIB o Developing tax incentives to support investments in R&d and innovation, especially for young innovative companies.
the European Investment Bank (EIB) could consider widening the scope of applications, in particular by A NEW APPROACH TO INNOVATION POLICY IN THE EUROPEAN UNION 35 broadening and deepening risk-sharing operations,
This fragmentation and the complexities of the system, coupled with the costs and the risk of costly litigation, leave European SMES with the impression of having large parts of Europe in
the Sara lee/Phillips Electronics case and the Document Security systems v. European central bank case, where the rulings of judges differed across member states. 21 Important papers
There is a serious risk that solutions advocated for other technologies (such as drugs or chemical compounds) would not work for CRTS,
The risk of opportunistic behaviours by competitors speaks in favour of ensuring intellectual property protection for firms willing to delocalise R&d
At the same time, risk for consumers is reduced due to acceptance of a commonly recognised standard. The overall impact 70 STANDARDS AND STANDARDISATION POLICY IN EUROPE on competition is positive whenever the standard fosters aggressive downstream competition
Without proper information exchange, there is a risk of multiple patent calls and the formation of several smaller (and thus less efficient) licensing programmes.
it creates a high risk of severe delay of time-tomarket of standard as licensing terms must be created
it also brings a high antitrust risk, even if group discussions are allowed formally not; and it does not help to foster mutual trust,
Takes the threat of an injunction off the table. However, what's reasonable? 25%of running royalties?
SSOS and patent pools by minimizing the risk of strategic behaviour. In this respect, the European commission should work on future policy documents (such as the horizontal guidelines) that:
Literature PL Patent Literature R&d Research and development R&d&i Research, Development and Innovation RSFF Risk Sharing Finance Facility UPLS Uniform Patent Litigation System
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