Influencing Innovation and Servitization in Small and Medium-sized Enterprises (SMEs) in Manchester

Narrative

University of Manchester (UoM) research on business-to-business services and servitization capabilities has significantly benefited two UK-based SMEs: HMG Paints Ltd. and IPEC Ltd. Research-led changes have enabled both firms to modify their business models and organisational cultures, unlocking the potential for significant revenue growth. HMG’s partnership with UoM researchers led to the implementation of an innovation management system for identifying new products and services. A product identified via this process is now one of the company’s most successful offerings. The partnership with IPEC enabled it to expand into overseas markets in 10 countries, increasing its personnel and turnover by 40%, thereby contributing to the North West’s export capacity, achievements recognized by a Queen’s Award for Export.

Impact date	2015
Category of impact	Economic impacts
Impact level	Benefit