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News from 2023-07-13 / KfW Research
KfW SME Innovation Report 2022
Innovator rate fell in the second year of the COVID-19 pandemic
Innovator rate fell in the second year of the COVID-19 pandemic
The COVID-19 pandemic has left its imprint on the innovation activity of small and medium-sized enterprises. The key findings of the current report are:
- The innovator rate in the SME sector dropped to 40%
- At EUR 33.9 billion, innovation expenditure in 2021 remained steady from the previous year
- The proportion of innovative enterprises grows with the size of the company
- Easing the skilled labour shortage is key to more innovation