Every Small and Medium Enterprise (SME) aspire to become a large corporation. Strong revenue growth along with sustained profitability is the way forward. Revenue growth can come from either gaining market share for existing products or creating an entirely new market through disruptive products. Higher demand for the product will drive market share gain. Regardless of the market (B2B or B2C) SME operate in, buying decisions are driven based on the value of the product. Hence reducing the price by compromising on quality, benefits and other outcomes are short term tactics.

For gaining market share for existing products, achieving competitive advantage through scale in sourcing, manufacturing, distribution will entail higher risk due to significant investment needed even before the demand scale up. So how does SME build competitive advantage to fulfil its aspiration for growth?

R&D investment appears to be a most powerful lever for targeting growth. Based on the National Innovation Survey, SMEs have seen marked improvement in reducing material cost, improving quality of goods, entering new market, and increasing range of goods. Computer simulation have been proven to be a powerful tool to minimize innovation risk and accelerate R&D. Globally, SMEs and Startups have deployed computer simulation to win projects, reduce material cost, innovate breakthrough products, increase product lifetime, reduce total cost of ownership, and gain other competitive advantage for their products. This approach to innovation has helped fast track business objectives of SMEs and Startups.

We will have industry experts, directors, industry leaders participating in this event to provide unique insights and recommendations to fastrack SME R&D process for enabling India towards the goal of self-reliant nation thus ensuring that our SMEs not only survive but thrive in this globalized market.

Who should attend?

• Promoters/Directors of SMEs
• Managers
• Engineers
• Consultants
• Academician
• Startups

This event will discuss on:

• Challenges faced by SMEs in realizing growth aspirations.
• Approach to investing in R&D – digitalization, human resources, academic tie-ups, etc.
• Role of R&D in building competitive advantage and challenges faced during the process.
• Success stories of continually investing in R&D
• Role of computer simulation in minimizing the cost and risk of R&D and accelerating product development
• Firsthand insights from visionary SME promoters and directors on how they have built competitive advantage through investing in R&D and computer simulation.

Agenda