May 11, 2023

Relevance in the Big Picture

The deeper we researched the topic of "Innovating in medium-sized companies," the more apparent it became how intense the competitive pressure from SMEs against large corporations is.

The deeper we researched into the topic of "Innovating in medium-sized companies," the clearer was becoming that competitive pressure by SMEs towards the big corporates. Out from the urgency to assist them strength in their innovative capacity, Patential rose as a support of those MNCs. The current situation shows, that innovation processes often take their time, cost a lot and document insufficient. The project "patential.io" is situated in the context of business and innovation of German medium-sized enterprises (SMEs). In this regard, it has been realized that because of declining innovative capacity new ways have to be found for supporting innovations, due to increasing pressure under which German SMEs find themselves. It is thus imperative for firms to intensify their innovation processes and remain competitive in the contemporary digital age and changing economic terrain.

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