Success for SMEs and Start-ups through better Decision Making

Programme 2014 - 2020 INTERREG VB Northern Periphery and Arctic

Date of latest update: 2023-11-16

Description

Description (EN):

This SSDM proposal focuses on testing the feasibility of providing an innovative Structured Scientific Support Program (SSSP) to improve the decision-making of start-ups, SMEs, and spin-offs. In 2020, SSSP was proven to significantly improve the success rates of start-ups. In this bridging call, we propose informing the adoption of SSSP by business support agencies in the NPA by trialing SSSP with 10 start-ups, SMEs, and spinoffs in the circular economy sector in Ireland and Finland. Publicly funded programs commonly use approaches such as Lean Start-Up, Effectuation, and Business Experimentation. These are well described in the academic literature but lack experimental evidence proving improved success rates and business growth. Only recently have Randomised Controlled Trials been published supporting the efficacy of some approaches. Most notably, Camuffo et al., (2020) reported a large impact from teaching start-ups to use a structured approach to assessing their decisions like how a scientist may assess a research question. Example business decisions that could be improved using the SSSP include assessing potential business model changes and investments. Compared to the randomly assigned control group receiving a typical start-up training program, the group that received the SSSP had a higher survival rate and higher revenue in the months after the program. Such robust findings where cause and effect are carefully untangled are unprecedented in the field. For business support providers, the study gives the best evidence yet regarding how to improve client business success. Early adoption of SSSP by business support agencies in the NPA has the potential to improve NPA businesses’ success rates. It is the feasibility and impact of implementing SSSP that this bridging call proposal will focus on. Subsequently, this will form the basis of an NPA 2021-2027 main project to support broader adoption of SSSP by business support agencies throughout the NPA.

Website: http://www.interreg-npa.eu/

Thematic information

SME and entrepreneurship

Specific Objective: Improved support systems tailored for start-ups and existing SMEs in remote and sparsely populated areas

Thematic Objective: (03) enhancing the competitiveness of SMEs by:

Investment Priority: (03a) promoting entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators

Partners (2)

Lead Partner: Munster Technological University

Department: Hincks Centre For Entrepreneurship Excellence

Address: Melbourn Building, Bishopstown, T12 P594 Cork, Ireland

Legal status: public

Website: http://hincks.cit.ie

Total budget: EUR 47 518.27

ERDF budget: EUR 30 886.88

Centria-ammattikorkeakoulu Oy

Name: Centria-ammattikorkeakoulu Oy

Department: Centria RDI

Address: Talonpojankatu 2, 67100 Kokkola, Finland

Legal status: public

Website: http://www.centria.fi

Total budget: EUR 29 980.00

ERDF budget: EUR 19 487.00

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Partners and Projects info

Centria University of Applied Sciences

Success for SMEs and Start-ups through better Decision Making

Partners and Projects info

Munster Technological University

Success for SMEs and Start-ups through better Decision Making

Lead partner

Project partner

Summary

Project name (EN): Success for SMEs and Start-ups through better Decision Making

Project acronym: SSDM

Project start date: 2022-01-01

Project end date: 2022-06-30

Project status: closed

Total budget/expenditure: EUR 77 498.27

Total EU funding (amount): EUR 50 373.88

Co-financing sources:

ERDF: Amount, EUR 50 373.88.

Information regarding the data in keep.eu on the programme financing this project

Financing programme

2014 - 2020 INTERREG VB Northern Periphery and Arctic

Last month that data in keep.eu was retrieved from the Programme's website or received from the Programme

2023-11-02

No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)

152 / 152 (100%)

No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)

779 / 779 (100%)

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Information provided by the Programme.

The financial data featured in keep.eu for this programme, it's projects and its partners is not exact and should be taken as a reference only.

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Success for SMEs and Start-ups through better Decision Making

Description

Thematic information

Partners (2)

Partners map

Summary

Information regarding the data in keep.eu on the programme financing this project

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