PROJECT 05

Breakthrough to Scale

Advanced Process Mentoring for Climate Innovators

Context

The project is about delivering individual and tailor-made mentoring packets for 8 Romanian SMEs within the Green Industry Innovation and Blue Growth, on their journeys to increase value creation and sustainable growth from radical innovation. Furthermore, the project aims to foster long-term business cooperation between Norway and Romania, not only via the partnership between the project`s partners, but also through opening new opportunities for our target SME beneficiaries.

Impact

The goal of the project is to empower SMEs with the essential knowledge and resources needed for sustainable growth. Moreover, the incorporation of a dedicated climate-specific component underscores the project’s commitment to fostering circular economy practices within these businesses, connecting them with their value chains and local ecosystems. Beyond SMEs, the project also aspires to elevate awareness among 50 key stakeholders and nurture the skills of 30 innovators through immersive learning workshops. This concerted effort will culminate in the formation of a dynamic community of practice dedicated to delivering high-impact support services for climate innovation.

Target Groups

Our target audience comprises Romanian SMEs possessing the following characteristics:

Focus Areas: Businesses operating within the domains of Green Industry Innovation and Blue Growth.
Commitment to Sustainability: Companies dedicated to advancing their growth through green or blue innovations.
Innovation Scope: Entities aiming to introduce groundbreaking green or blue innovations, including products, processes, services, or novel business models. Priority is given to tangible product innovations.

Innovation Initiatives: SMEs actively involved in driving green or blue innovations, either independently or in collaboration, with the SME taking the lead role.
Basis of Innovation: Businesses pursuing green or blue innovations rooted in either knowledge-based approaches or technology-driven strategies.
Technical Readiness: SMEs demonstrating a minimum Technology Readiness Level (TRL) of 3, particularly for innovations resulting in tangible products. This indicates an experimental proof of concept.
Digital Integration: Companies that integrate digital innovation as a pivotal facilitator for their green or blue growth objectives.

Expected outcomes

The project’s primary outcome is to significantly enhance the competitiveness of Romanian SMEs engaged in green innovation. Special attention will be devoted to supporting women-led companies, aiming for a representation of at least 50%.
The anticipated results for the SMEs involve an increase in annual income derived from sales of innovative products and services and reduction in time-to-market and time to profitability.
Strengthening of the capacity of companies towards climate innovation, and triggering behavioral change and business culture towards greening of the Romanian industry
Enhanced Business Cooperation between Norway and Romania: The collaboration between LUMINSPINO and VINCO INNOVATION is anticipated to create a substantial positive impact on the business landscape in Romania and strengthen bilateral ties between the donor and beneficiary states.
Boost to business sector (SGS)

Our role

Facilitating the transfer of knowledge towards pilot companies
Bringing examples of good practices from Norwegian industrial peers
Providing result-oriented tools that consolidate innovation and backup strategic decision (drivers and enablers)
Empowering the Romanian SMEs with roadmaps and measurement tools, so that to prevent failure of innovation at critical points during the innovation lifecycle, and instead validating its progress through clear and sound milestones
Building up a community of practice around climate innovation, which includes innovative SMEs, R&I actors, intermediaries, startups, investors, adopters and developers

Project consortium

Project Leader:

Luminspino Srl

Partner:

Vinco Innovation AS

Timeframe

The project takes place between June 2023 and April 2024.

Project funded by

Iceland, Liechtenstein and

Norway Grants

Program: The “Development of SMEs in Romania Program”

Financing: The project is financed with the support of grants granted by Iceland, Liechtenstein and Norway through the EEA financial mechanism 2014-2021, within the “Development of SMEs in Romania Program” (89,97%) and own financing (10,03%).

Total value of the project: EUR 210.615.