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How to Assess Market Readiness for an Innovative Solution: The Case of Heat Recovery Technologies for SMEs

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  • Sune Solberg Hjorth

    (SDU Innovation and Design Engineering, Mads Clausen Institute, University of Southern Denmark, Sønderborg 6400, Denmark)

  • Alexander Michael Brem

    (SDU Innovation and Design Engineering, Mads Clausen Institute, University of Southern Denmark, Sønderborg 6400, Denmark)

Abstract

The uptake of solutions that increase energy efficiency is significantly lower for small- and medium-sized enterprises (SMEs). This is due to several barriers, among which legislation, motivation, finance and other resources play a large role. In this paper, we describe a framework of market readiness and use it to assess the asymmetry between existing solutions and opportunities in the market. The aim is to identify which steps can be taken in order to introduce more energy optimizations into SMEs, and who should be taking those steps. More specifically, we explore how four Danish SMEs, in different parts of the value chain in the food processing industry, view energy efficiency improvements, focusing on the potential reuse of waste heat, along with what they consider important for taking on such projects. The findings show that while the companies operate very differently, they share common motivations and barriers when it comes to energy efficiency. Based on these findings, this paper argues that the biggest advancements are not to be made within the SMEs, but partly through the legislation that affects the financial benefits of energy improvement solutions, and through the marketing approach that solution suppliers take towards their potential customers when addressing the inherently individual needs of SMEs.

Suggested Citation

  • Sune Solberg Hjorth & Alexander Michael Brem, 2016. "How to Assess Market Readiness for an Innovative Solution: The Case of Heat Recovery Technologies for SMEs," Sustainability, MDPI, vol. 8(11), pages 1-16, November.
    • Handle: RePEc:gam:jsusta:v:8:y:2016:i:11:p:1152-:d:82491
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    References listed on IDEAS

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    1. David B. Audretsch & Erik E. Lehmann & Albert N. Link & Alexander Starnecker (ed.), 2012. "Technology Transfer in a Global Economy," International Studies in Entrepreneurship, Springer, edition 127, number 978-1-4614-6102-9, November.
    2. Florin Paun, 2012. "The Demand Readiness Level Scale as New Proposed Tool to Hybridise Market Pull with Technology Push Approaches in Technology Transfer Practices," International Studies in Entrepreneurship, in: David B. Audretsch & Erik E. Lehmann & Albert N. Link & Alexander Starnecker (ed.), Technology Transfer in a Global Economy, edition 127, chapter 0, pages 353-366, Springer.
    3. Alexander Brem & Nico Kreusel & Christian Neusser, 2008. "Performance measurement in SMEs: literature review and results from a German case study," International Journal of Globalisation and Small Business, Inderscience Enterprises Ltd, vol. 2(4), pages 411-427.
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    8. Juanita Álvarez Jaramillo & Jhon Wilder Zartha Sossa & Gina Lía Orozco Mendoza, 2019. "Barriers to sustainability for small and medium enterprises in the framework of sustainable development—Literature review," Business Strategy and the Environment, Wiley Blackwell, vol. 28(4), pages 512-524, May.
    9. Vik, Jostein & Melås, Anders Mahlum & Stræte, Egil Petter & Søraa, Roger Andre, 2021. "Balanced readiness level assessment (BRLa): A tool for exploring new and emerging technologies," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    10. Dolores Gallardo-Vázquez & Luis Enrique Valdez-Juárez & Ángela María Castuera-Díaz, 2019. "Corporate Social Responsibility as an Antecedent of Innovation, Reputation, Performance, and Competitive Success: A Multiple Mediation Analysis," Sustainability, MDPI, vol. 11(20), pages 1-28, October.
    11. Brem, Alexander & Radziwon, Agnieszka, 2017. "Efficient Triple Helix collaboration fostering local niche innovation projects – A case from Denmark," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 130-141.

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