This is the case of a company working in the contact lens sector which was founded in 1980 and purchased in early 2006 by a former investor who, in the light of fierce competition in the sector, decided to invest significantly in introducing new technologies and positioning the company in a wider market. Innovation is the main driver of its business growth which allows the company to compete at international level (EU and USA). To launch a new solution, the company decided to form a consortium made up of a compatible UK manufacturing company and two French and German research centres and to apply to an EU R&D grant scheme for developing a new manufacturing process leading to a cheaper and better performing solution. This case demonstrates how collaboration among large players, SMEs and R&D institutes that combine technical and industrial knowledge can lead to the creation of promising products. Nevertheless, commercial success depends on a good understanding of the market conditions and on the capacity to deploy a sound marketing strategy from the start.
Open innovation for SME's
