Post-pandemic, public bodies must restructure SME support systems for long-term growth with well-functioning innovation systems with the right balance of instruments.
Innovation can be defined as a new idea, method, or device - a novelty - or as the introduction of something new.
Thus, innovation is, by definition, a vague term.
Research and Development (R&D) is a key driver of innovation and sustainability within a business. However, establishing an R&D department can be a difficult and time-consuming process that requires a lot of resources.