EC Nutrition

Open innovation, which combines external and internal ideas to improve technology and processes, offers considerable prospects for the Indian food processing industry, particularly small and medium-sized firms (SMEs). This paper looks at how Indian food processing SMEs might use open innovation to boost their annual turnover. It examines the unique obstacles that these SMEs confront, such as resource restrictions, technology gaps, market competitiveness, and regulatory barriers, as well as how open innovation might help to address these issues. The paper examines case studies of successful open innovation implementations in the Indian food processing sector to highlight the benefits of collaborating with research institutions, engaging with startups and technology providers, crowdsourcing ideas, and forming licensing agreements and joint ventures. It also discusses ways for fostering an innovative culture, creating collaborative networks, leveraging digital platforms, and investing in research and development. The importance of government funding and policies in supporting innovation is also emphasized. The findings imply that open innovation can greatly improve the innovation ability, operational efficiency, market reach, and competitive advantage of Indian food processing SMEs, resulting in improved yearly turnover and long-term growth.

 Keywords: Open Innovation; Food Processing Industry; SMEs in India; Yearly Turnover; Collaboration; Technology Adoption; Government Support

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