GIS – 27 November, 2017: Government’s ambition is to make the Small and Medium Enterprises (SMEs) the backbone of our country’s economy. There is therefore a need to create the necessary conditions for the emergence of more SMEs with high growth potential, capable of creating jobs and stimulating economic activity. A significant means to achieve this target is through innovation.
The Minister of Business, Enterprise and Cooperatives, Mr Soomilduth Bholah, made this statement on 24 November 2017 during the SME Innovation Award 2017 at Intercontinental Hotel, Balaclava, in the presence of participants and other personalities.
In his address, Minister Bholah highlighted that the SME Innovation Award 2017 is organised with a long-term vision, which is to encourage entrepreneurs to adopt a culture of innovation. “This”, he pointed out, “will in turn lay the foundation for a community of modern entrepreneurs.”
The Minister underlined that innovation plays a determining role in boosting the performance of enterprises and enables them to sustain productivity. He emphasised that innovation is a driving force for SMEs to create competitiveness, higher productivity gains, better product development and production processes, and secure market niches.
“Mauritius is now ranked 63rd out of 137 in terms of innovation in the Global Competitiveness Index and through the adoption of a culture of innovation by SMEs, Mauritius has the potential to rank higher in this index,” the Minister underscored. He added that through the SME Master Plan, the different schemes and benefits, the incubators and the forthcoming creation of SME Mauritius, Government is making every effort to facilitate the emergence of an ecosystem conducive to entrepreneurship.
SME Innovation Award 2017
The SME Innovation Award 2017 was organised by the Ministry of Business, Enterprise and Cooperatives, with a view to recognising SMEs, which have during the last three years of their operation, brought significant innovation in terms of product or process development. Some 76 SMEs participated in the competition.
The objectives of the SME Innovation Award 2017 are to enhance the competitiveness and productivity of the SME sector; promote and reward innovative SMEs; and encourage local SMEs to be creative and adopt innovative practices, leading to business transformation. The SME Innovation Award 2017 comprised two categories namely, Best Product Innovation and Best Process Innovation.
The Grand Winner of the SME Innovation Award 2017 is V. Kanhye Health Foods Ltd while Ravior Co. Ltd received the Special Jury Award.
Saveur Végétale Ltd received the Product Innovation Award, and Foodsworth Co. Ltd the Process Innovation Award in the Small Enterprises category.
English Bay Co. Ltd and Fujiland Ltd were both awarded the Product Innovation Award and Emboss Ltd received the Process Innovation Award in the Medium Enterprises category.
The winner of each respective category was rewarded with a cash prize of Rs 200,000 and the Grand Winner bagged a cash prize of Rs 300,000.
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