Chemport Europe nominated for EEPA 2024: Highlights from the SME Assembly

Although we did not win the main prize, participating in the SME Assembly in Budapest provided valuable opportunities to share our vision, showcase our project, and connect with industry leaders and innovators from across Europe.

What is the SME Assembly?

The SME Assembly is the premier European event dedicated to small and medium-sized enterprises (SMEs). It took place from 18 to 20 November in Budapest and was organized in conjunction with the Hungarian Presidency of the Council of the European Union. The Assembly featured high-level panels, expert roundtables, workshops, and networking opportunities. The goal? To equip European enterprises with the tools and knowledge needed to drive sustainability, innovation, and digital transformation.

The EEPA award ceremony was a key highlight of the Assembly, celebrating outstanding projects that promote entrepreneurship and innovation across Europe.

Key insights from the SME Assembly

The Assembly highlighted important trends and challenges for European enterprises, with a clear focus on sustainability, innovation, and resilience. We have some takeaways we like to share.

Innovation in ecosystems

In his opening speech, Professor Johan Wiklund pointed out the need for Europe to develop its own innovation pathways:

• Localized approaches: Europe often replicates the Silicon Valley model, but this approach has limitations, including increased inequality and reduced resilience. A more diverse, localized approach can strengthen our European innovation ecosystems.
• Inclusivity matters: Current models tend to focus on a narrow group while overlooking other potential innovators. Expanding access to support a broader range of entrepreneurs is essential.
• Encouraging experimentation: True innovation is often unpredictable. Creating environments that foster collaboration and experimentation will be crucial for Europe’s success.

Strengthening Europe’s competitive edge

Several sessions emphasized Europe’s strengths beyond cost competition:

• Focus on values: Europe’s competitive advantage lies in sustainability and fair working conditions. By setting high standards, making rules and regulations, we can shape markets that reflect our values and priorities.
• Action over perfection: Progress requires decisive action. European enterprises need to lead by example, balancing ambition with practical steps.

Building strategic autonomy

Workshops on strategic autonomy highlighted the importance of reducing Europe’s dependency on external resources:

• Resilient supply chains: Policies should focus on bringing production closer to home and strengthening local industries. This approach not only enhances security but also fosters innovation.
• Supporting SMEs: Small and medium-sized enterprises are key drivers of innovation. Ensuring they have access to funding, expertise, and networks will be critical to Europe’s future resilience.

Closing the productivity gap

The SME Competitiveness and Performance Review session addressed challenges faced by SMEs:

• Investing in growth: SMEs that invest strategically in people and technology before scaling up are more likely to succeed. Support mechanisms need to focus on enabling these investments.
• Addressing barriers: Labor shortages, regulatory burdens, and limited financial resources remain significant challenges. Tailored support can help SMEs bridge these gaps and drive sustainable growth.

A positive step forward

Participating in the EEPA and SME Assembly has offered a chance to showcase our commitment to leading the chemical industry towards a sustainable, circular future. But also, we return from Budapest with valuable insights, new connections, and a renewed sense of purpose.

Thank you to everyone who contributed to this journey. Together, we are making strides towards a more sustainable and resilient future.