Innovation in creative SME's in Flanders: a case study based analysis
Faculty of Applied Economics
Wuhan :Wuhan University Technology Press, 2008
Proceedings of the 5th International Conference on Innovation and Management, December 10-11, 2008, Maastricht, The Netherlands / Duysters, G. [edit.]; et al. [edit.]
This chapter analyzes the innovative profile of the Flemish creative 'design sector' using data obtained from 51 companies, taking part in an Innovation Diagnostic of their enterprise. Flemish creative companies are typically very small, but highly innovative. Results clearly show that the Flemish creative industry faces a number of specific challenges, mostly related to risk assessment and financing constraints. Moreover, creative entrepreneurs often lack the necessary economic background required to successfully commercialize their innovations and manage their business in an optimal way. Finally, government support appears not to be very well adapted to the need of micro firms (employing less than ten employees) in general and to the requirements of the creative sector specifically.