Eurada News nº398 – March 2020
5th Anniversary of IMP3rove
Last year was the 5th Anniversary of the IMP3rove Academy. EURADA is a member of its Advisory Board. We use this opportunity to outline the main services offered by this non-profit start-up.
In 2014 a non-profit start-up with a global vision was created by A. T. Kearney the Agency for the Promotion of European Research (APRE) with the aim to help SMEs to incorporate the management of innovation into their existing management structures; the name of this start-up is: European Innovation Management Academy, branded as IMP3rove Academy. Its mission is to make sure none of its clients end up stuck in the past. In its 5 years of existence, IMP3rove Academy has helped organisations to boost their innovation activities by offering a comprehensive package of assessment tools, training courses, support services, consulting standardisation advice. In the words of our director, Esteban Pelayo: “[IMP3rove] is a unique resource that provides a complex yet very useful scheme to support value-added services for those companies that want to improve.”
Research on demand
IMP3rove collects most valuable information on innovation management, analyses it and then disseminates the insights gained among business, policy makers, international companies, RDAs or any organisation that would require its services. The company examines the correlation between specific innovation management practices and the subsequent performance of businesses. Insights from IMP³rove’s research programme have been included in the Global Innovation Index and two World Economic Forum’s reports. In IMP3rove it is believed that data is the most valuable currency in the 21st century world and, therefore, has been a defining element since the beginning.
Experts in benchmarking
Benchmarking is at the core of the IMP3rove Academy. The service offered to the clients (the largest global benchmarking database in the world when it comes to innovation management) includes the following tools:
- IMP³rove Assessment, to develop a clear picture of their overall performance in innovation management.
- IMP³rove Root-Cause Analysis, to target specific areas where their business might improve.
- IMP³rove Sustainability- Driven Innovation Management questionnaire, to compare themselves with other businesses that might be experiencing profitable growth by leveraging innovation for sustainability.
- IMP³rove Digital Innovation Quotient, which offers insights on how to leverage digitization for innovation.
All these assessments allow businesses to measure themselves against other companies by and across different industry sectors by age, size and location on a national and international scale.
Since its foundation in 2014, IMP3rove has supported more than 10,000 companies around the world in identifying their strengths and weaknesses in managing innovation to create sustainable and fruitful growth; 2000 business advisers, policy makers and investors have improved their proficiency in innovation management by attending the more than 200 courses offered by IMP3rove, and 1,000 companies have applied for prestigious awards based on the IMP3rove assessment. More than 90 companies are represented in its benchmarking database, the largest of its kind and a very useful tool for sharing best practices.
Written by Alex Arcos, Communication and Project Officer at EURADA.