An analysis of Business Innovation in Galicia through the ARDÁN 2023 report.

The ARDÁN 2023 Report provides a detailed overview of the capacity of Galician companies, assessing their dynamics in the field of research, development and innovation (R&D&I). This study, led by the Universidade de Vigo and the Consorcio de la Zona Franca de Vigo, has collected data from 550 Galician companies with more than 10 employees, excluding the real estate and financial sectors.

Through this research, it has been possible to obtain a complete snapshot of how the Galician company has invested in issues that are innovative for the market in the region.

In the context of the ARDÁN 2023 report on business innovation in Galicia, three generic competitive strategies stand out: cost leadership, differentiation and focus . These strategies seek to obtain competitive advantages through efficiency, uniqueness of products or services and focus on specific segments, respectively.

They also underscore the connection between these strategies and the importance of innovation in achieving differentiation and supporting operational efficiency. Companies are also urged to consider the strategic role of innovation and to create an environment conducive to the generation of ideas.

In more detail, the analysis of the strategic positioning of Galician companies reveals that a significant percentage perceive themselves as differentiated in the market. This means that they identify themselves as organizations that offer features that are sufficiently unique in the market that consumers are willing to pay a premium price. This perception may be supported by factors such as quality, design, innovation or company reputation.

But, in addition to showing the current state of innovation in Galicia, the report also explores the motivations, barriers and goals faced by companies in this field: improving the quality of goods and services or complying with environmental standards, highlighting both the successes and challenges faced by companies in the region.

Despite the notable attrition experienced in R&D and innovation during 2022, marked by the pandemic, upheavals in supply chains and geopolitical uncertainty, opportunities are detected through Next Generation funds. Efficient management of these resources will be key, and the report warns of the danger of "crowding out," where public investment may reduce private investment. It stresses the importance of reforms to develop an innovation ecosystem where companies, researchers, financial agents or educational institutions can dispense with the public support they need in the short term.

TEIMAS innovation in ARDÁN 2023 report

Looking to the future, the report's main objective is to implement reforms that unleash the potential of human capital in companies, universities, public research centers, administration and other relevant areas. At the same time, the innovation ecosystem should be driven towards flexibility, willingness to take risks and commitment to the technological, social and environmental challenges that will shape the way we produce and consume in a future of climate change and geopolitical uncertainty.

Regarding the specific evaluation of the "Innovative Management" indicator, the report highlights companies such as TEIMAS, which occupies 12th position in the ranking.

In the 2023 edition of the ARDÁN Report, TEIMAS has excelled in three other indicators. Specifically, those corresponding to Global Company, Talent Management and Circular Company.