🎓 New in IPEC Research: How public procurement drives SME innovation
This research brief, authored by @Xin Deng, Pei-Yu Yuan, @Elvira Uyarra and @Raquel Ortega-Argilés, reveals how public contracts boost SME patenting activity, driving both incremental and breakthrough innovations.
💡 Key highlights:
â—¾ SMEs engaged in public procurement show higher patenting rates, demonstrating its role as a demand-pull policy tool.
â—¾ Central government contracts drive advanced innovation in areas like physics and electricity, while local governments focus on applied technologies like transportation and mechanical engineering.
â—¾ SMEs make up 99% of UK businesses but receive only 20% of direct procurement spending, leaving untapped potential for innovation.
💡 Download the research brief here to learn more 👉 https://lnkd.in/dFc4J6HK
{hashtag|#|IPECResearch} {hashtag|#|PublicProcurement} {hashtag|#|Procurement} {hashtag|#|SME} {hashtag|#|Innovation}
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