We need to think differently about how we set businesses up to innovate. Our analysis of funding SME product development and research using the current traditional approach shows we need change - the return on investment is too small. But this can be addressed by investing in innovation enablers, which come at much lower cost.

These enablers focus on making innovation business-as-usual, creating a shared organisational purpose, collaborating to innovate, and creating market contagion - and can make the difference between success and failure.