Managing Open Innovation in SMEs


Many SMEs innovate on an ad hoc basis, around a particular project. A development upholds administration offering a yearly membership will consequently not be reasonable: a very flexible model is required, on request. Some are continually improving, others every so often. Their requirements and the answers for these necessities will in this way be altogether extraordinary, with a more powerful need for support for SMEs that occasionally innovate.

We additionally found that advancement for an SME should likewise be a method for making itself known and advancing its abilities and developments. In an SME, the business work is never a long way from the Research and Development capacity and the other way around.

At long last, we have become persuaded that SMEs must be associated with Open Innovation rehearsals. They have everything to pick up from this, given their restricted assets and their steady test of seriousness. However, they engage with specific strategies and means.

Our solution of smart-contract allows end-user SME to automate decision-making for grants distribution based on the results of peer-review, therefore significantly cuts efforts and time to fund the most promising and impactful projects and technology. DLT serves as the infrastructure for decentralized assessment and ensures transparency of the peer-review process and decision-making.