Combining regional foresight systems to SMEs innovation process model

Combining a foresight system and an innovation system at the regional level is a challenging task when considering SMEs’ needs. The national innovation systems and foresight practices are running well among large corporations. However, SMEs’ needs and skills are different from the institutional purposes of these systems. SMEs’ challenges for the future success are mostly related to their position in the value chain / network as well as to the limited resources for the strategic work and development activities. Also, SMEs’ role in the local community is often important as an employer and as a voice of entrepreneurs to the municipalities. Therefore, the renewal of SMEs is not only important to the companies themselves, but also for the region. The regional forums for innovation and foresight have to be developed from the perspective of SMEs, supporting their renewal and ability to grow and follow trends and signals of the future