There is a lot of confusion in the field of R + D + i, that is, Research and Development and Technological Innovation. Actually, the incessant trickle of news on the same topic is creating quite a bit of confusion.
The millions of euros that are going to be allocated to Innovation have not been fully understood by managers or the strategic context in which these investments have to be considered.
The manager of the SME -on many occasions- thinks that R + D + i does not go with him. Even prominent business leaders make statements that more than encourage the generation of creativity in their companies and, derived from it, undertake innovative policies, they confuse and demotivate that, in the end, they think that so many millions should be "for others", that that Innovating does not go with them, that is only for large companies, those with resources and R&D departments, qualified personnel, etc.
Nothing is further from reality. The problem is that no one has bothered to explain to managers that R & D & i projects have to be profitable for companies, otherwise, Innovation makes no sense. An R + D + i project cannot be assessed by parameters other than those assessed by any other type of project. Of course, the profitability of these projects has much more scope than any other type of project.
But innovating is a profitable activity by definition although it is not without risks. Being able to have innovative or new products in national and international markets or being able to produce with high-tech machines and equipment that represent a novelty in the company or simply, new equipment and different from the current ones, will allow the company a greater capacity of reaction to the innovations of the competition and, at the same time, reduction of differences compared to its competitors. In the same way, it will reinforce the creative capacities of your company, its workers, its products, its processes, its image. It will improve your reputation vis-à-vis your customers, suppliers, competitors and society in general, as it is assured by offering high quality, capacity for innovation and a permanent commitment.
We would leave elsewhere the social profitability that, despite its undoubted importance, each company can value in different ways.
In addition, there are three very important tools that can make our R & D & i projects have a lower cost than the real one. These tools are the taxation of innovation, the financing of projects with long-term loans and zero interest rates and subsidies.
But returning to the profitability of the projects, we must emphasize that the objective of an R + D + i project must coincide with the main objective of commercial companies, that is, obtaining benefits. If that goal cannot be achieved, innovation no longer makes sense. Managers should not innovate to lose money but, on the contrary, they should innovate to make money. But with a very important qualification: innovation means, in most cases, economic profitability and benefits in the short, medium and long term.
Let's take an example. The possibility of the company itself developing a new equipment for the production of its goods. If this team, which the company intends to develop, can be found on the market at a lower cost than that of developing it itself, the choice is clear. Better to buy it in the country where it is sold.
From a tax point of view, deductions may be made on the total project that range from 15% to 70% of its cost, depending on whether the project is Technological Innovation (IT) or Research and Development (R&D).
From the point of view of financing, you will be able to obtain loans at a zero interest rate or, in the worst case, at a Euribor interest rate minus half a point.
And, in the case of grants, there are possibilities of raising funds of up to 35% of the cost of the project.
But, in addition, all the aforementioned sources of financing are compatible. So it is possible to take tax deductions, obtain a grant and get interest-free financing.
But also our companies and their managers or shareholders have to orient their policies towards the culture of innovation. In order to innovate, we must be creative and, to be so, we must encourage creativity in our work centers.
There have been many experts who have defined creativity. But, without going into depths, we can say that creativity is like a tripod whose frame supports three feet, which in this case would be expertise, the ability to think flexibly and imaginatively, and motivation.
Both three are essential. The expertise, or what is the same, the knowledge, experience and ability in a subject. The ability to think flexibly and imaginatively supposes that we are able to integrate into our thinking not only our ideas but the ideas of others in such a way that they do not collide but instead produce a happy fusion that gives rise to new ideas or concepts. that in the end we can materialize into something tangible.
Finally, the motivation, the preparation of actions to encourage the organization to carry out certain policies with interest and diligence, also explaining the reason for which they are intended to be undertaken. Obviously, there are certain management practices that directly affect the creativity of the company, such as the challenge to certain objectives, the freedom and autonomy with which each of the components of a company work, the financial resources and the availability of time, teamwork as well as the encouragement of the leaders and the support of the company as an organization. But this is a topic that deserves another space.
Returning to the profitability of R & D & i projects, we must insist on the great ignorance that still exists in our companies. At this time, when, it seems, there is widespread recognition of the crisis in some sectors, it would be very appropriate to disseminate and teach our business community what innovation is, what advantages it represents, how cheap it is to innovate and the benefits that this is going to represent the future of our companies.
Only from the knowledge of things and the correct information will we be able to be a highly competitive, innovative European region and a benchmark for the rest of the regions of our continent.
