IIM Indore Starts Training Program on Innovation Management in SMEs

INDORE: Indian Institute of Management Indore has come up with an innovation management programme, specifically customised for Indian Small and Medium Enterprises (SMEs) and co-created by experts from premier German and Indian Institutes. This programme has been designed to support SMEs with their endeavour to innovate.

The training is an initiative of IIM Indore and German Federal Ministry of Economic Cooperation, under the framework of the bilateral programme on “Innovation Promotions in SMEs” implemented by Deutsche Gasellschaft fuer Internationale Zusammenarbeit (GIZ).

“SMEs that benefit from this programme are those that are facing the risk of technology obsolescence, need ideas or have to select the right idea, want or need to improve their innovativeness, want to develop innovative product, process and business model and are eager to find a way to stay ahead of competition,” the IIM Indore’s website states.

SMEs sector assumes a pivotal role in driving economic development and create employment. “In order to contribute to this growth path, SMEs need to continue to innovate. This programme has been designed to enhance the innovation management capacity of SMEs,” IIM Indore media incharge Ananya Mishra said.

“Managing Innovation in Small Businesses” is a seven-day programme (5-days of practical training followed by a four weeks implementation break and ending with a 2-day finishing school) spread over a period of six weeks.

During each day of the initial five-day training participants will work on their individual innovation projects supported by the experts and facilitators from German and India. After the training week, participants will further elaborate and implement their individual innovation projects which can be an idea for a new or improved product, an innovative process or an improved business model.