Swedish Business Development Project Gets International Attention

Growkomp, a successful Swedish innovation and business development program has helped 21 companies´ to improve their capability significantly and is now a model for similar projects abroad including a new program called InnovationNI in Northern Ireland.

Growkomp ended with a conference in Nässjö (Småland, Sweden), where the 21 companies in the project shared their stories about how the project successfully developed their company.

One of the companies was Ragnars, a Swedish interior design company. Thanks to the project, Ragnars had won new businesses.
The main supplier for the project was the Innovation 360 Group. Magnus Penker, CEO and co-founder of the company, is an internationally recognized expert in innovation, digitalization and business transformation.

For three years, Growkomp has been tasked with increasing growth and competitiveness for 21 companies in the manufacturing industry in Nässjö, Sävsjö, Vaggeryd and Jönköping (all cities in Småland). The project has been funded by the European Social Fund and was run by business development units in each city in close cooperation with Jönköping University, Science Park Jönköping, Codeq and Innovation 360 Group.

“The Growkomp model has proven to be extremely successful”, says Magnus Penker, “and on average, companies have increased their order books by 25 percent”, he continues.

How does Growkomp work?
Growkomp starts by analyzing the current innovation capability of participating companies using a unique tool called InnoSurvey® that measures a number of aspects of each organization´s innovation capability. After a situational analysis, participants are provided with consulting support, introduced to an innovation toolset, and invited to bootcamps which focus on common development areas over the course of the program –a recent cohort focused on skill supply, CSR/gender equality and business development/innovation ability, for example. The ultimate objective of the program is the identification of gaps, understanding the activities and corrective actions, and the establishment of a roadmap for the future.

“The Growkomp program enables companies to update their business plans, develop innovation roadmaps and became more familiar with the strategic elements of innovation, supply- and sustainability”, states Claes Johansson, CEO of Nässjö Näringsliv AB (a partner in the Growkomp Program).

Growkomp 2.0 is now underway with a focus on another 13 companies in Sweden
In 2018 13 companies from diverse industries were invited to participate in Growkomp 2.0.

“Thanks to additional funding from the European Social Fund, we were able to extend the project by one year”, says Claes Johansson. “Growkomp 2.0 was started in 2018 and will be completed by the end of 2019-2020”.

“This fall have launched a new program in Northern Ireland based on our success in Growkomp, and we have ongoing dialogues in other countries where there is interest in doing the same” says Magnus Penker, Founder of Innovation 360, and a primary supplier to the Growkomp Program.

To find out more about Growkomp and our newest program InnovationNI, please click here.