KfW SME Innovation Report 2023

Innovation activity among SMEs did not profit from the end of the COVID-19 pandemic. The key findings of the KfW SME Innovation Report are as follows:

• Currently 40% of small and medium-sized enterprises have innovative products and processes
• Innovation expenditure remains at EUR 34 million, slight decrease when adjusted for inflation
• Innovation expenditure in the SME sector is heavily concentrated on large SMEs.

KfW SME Innovation Report 2023(PDF, 1 MB, accessible)