The lure of innovation
In today’s dynamically changing economic realities, the issue of innovation has become one of the priorities for public and private enterprises.
The companies leading the way, those that are most innovation-conscious and focused on competing in international markets, treat innovation as a key aspect of their operations, closely linked to their business strategy.
Planning, managing and financing innovation demands a well-thought-out and structured approach. This is crucial for effectively creating and implementing innovations that will have a positive impact on the organization’s bottom line.
90%
of companies in Poland will increase their expenditure on innovation
* PARP survey, “Panel of Polish Entrepreneurs 2016”
Develop innovation through:
35%
of CEOs believe that innovations will be the most important factor for the growth of their business
An innovation strategy
Plan and structure your processes of innovation and R&D
- An innovation and R&D strategy will be consistent with the company’s priorities and objectives if it is properly designed and implemented using advanced tools. Such an approach will help you bolster the effectiveness of innovation and R&D in your firm and you will be able to continually monitor the attainment of the strategic objectives of the innovation process.
- Proper planning of R&D structures and processes boosts their profitability. Adapt the organizational structures of your company to the level of maturity of its products and the demands of R&D management. Consider your potential and evaluate the effects of individual projects. Effectively manage the outcomes of R&D projects.
- An efficient business model will accelerate the development of new products. Dedicated tools will help you effectively manage the portfolio of innovative R&D projects. An enriched organizational culture and well-thought-out communications management will support innovation processes.
112.3
billion PLN amounted investment outlays in Poland’s Special Economic Zones
Special Economic Zones (SSE)
Companies operating in Poland, irrespective of their size or the origin of their capital, can benefit from public aid in the form of a corporate income tax (CIT) exemption.
A CIT exemption can frequently be coupled with an additional exemption from real estate tax.
Such tax benefits and the availability of attractive land are just some of the enticements offered by Special Economic Zones (SSEs).
When planning a new investment, and also when already operating within an SSE, it is worth examining the possibilities of obtaining public aid, verifying its proper utilization and the potential areas where the available exemptions might be harnessed more fully.
38%
of CEOs consider investments in innovation and new technologies to be a priority.
*PwC Report “20th CEO Survey”
Employee innovations
A coordinated approach to employee innovations is key to the comprehensive development of innovation in your company.
It is wise to make sure that staff members are able to voice their own innovative ideas, in terms of both products and small improvements in processes, as this enables both sides to gain. Employees can satisfy their ambitions and increase their recognition within the organization, whereas the company will have a chance to develop a culture of innovation and innovative skills, acquire innovative projects and more easily retain talented, innovation-minded individuals.
70%
of startups view collaboration with a corporation as a success.
Collaboration with startups
Innovation is today not a supplement to market success, but rather a crucial component for such success. Companies are increasingly looking for new ways of developing innovation. One of the main ways is to collaborate with startups. This can contribute not only to greater competitiveness and a more innovative image, but also to the acquisition of new technologies that can later be harnessed in the company’s operational activity.
28%
of businesses admit that the possibility of obtaining a nonrepayable grant is a main factor motivating R&D
Grants
Grants offer great potential for development, for expanding services or entering foreign markets. The likelihood of obtaining grants is improved not only by properly filling out applications and preparing the right documentation, but also by putting forward well-organized and financially calculated projects. The process of obtaining grants includes four stages: project analysis and planning, preparing application documentation, training the project team, and filing financial documentation on grant utilization.
19%
of the amount of benefits in 2018 for every company, for all types of costs*
*The amounts stated follow from the “Draft Act on Amending Certain Acts to Improve the Legal Environment for Innovative Activity”
Tax incentives for R&D
Since 2016, companies engaging in R&D activity have been able to benefit from a tax break in Poland. The main problem faced by companies in benefitting from this break, however, is a lack of certainty as to whether their activity definitely qualifies as R&D. The definitions stated in the law are quite general, and the way they are verified by revenue offices remains uncertain.
The mechanism by which R&D incentives operate is nevertheless quite simple and only requires for the company to be prepared properly once: this involves verifying the work and tasks performed, devising a tracking scheme for R&D-related costs, and reporting the right amount of expenses on R&D in the annual corporate income tax declaration.
50%
of technology innovators consider having a partner with business experience to be the most important factor in the commercialization process*
*NCBR Report “Commercialization of Research”
Commercialization and valuation of technology
Innovative technologies above all take major financial outlays and advanced infrastructure to develop and be brought to market. The commercial success of innovations depends on a well-thought-out strategy for how the technological solutions should be properly transferred to the world of business.
What challenges are involved in the process of commercializing technology?
- Identifying the potential and market value
- Obtaining financial resources for further development
- Taking the innovations to market, while at the same time minimizing risk
- Identifying obstacles hampering commercialization
- Sales and price negotiations
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