A new business model that aims to help SMEs adapt to the changing business environment has been launched at GMIT.
The ‘FutureSME Transformation Programme for SMEs’ was launched by a GMIT group working on a major EU Framework 7 research project called ‘FutureSME’.
The new model guides SMEs through a developmental process and is supported by eLearning and tools designed with SMEs in mind.
It has been developed by GMIT and partners including Galway-based companies Tsunami and Lalui Leadership and project leader Strathclyde University.
FutureSME was established at Strathclyde University in 2009. Of the 26 European project partners, seven are Irish with a combined Irish budget of almost €2.5 million.
Dr Paul O’Dowd, GMIT lead researcher on the FutureSME project, said this new model for SMEs is the result of four years of collaboration.
“GMIT is delighted to host the launch of this important new business model. It has been tested extensively across Europe and was recently accredited by the University of Strathclyde, which is promoting it as a future standard of excellence for small businesses, providing a pathway to success. We believe this new business model can bring immense benefits to European SMEs.”