The 2011 APEC SME Innovation Conference was successfully concluded in Seoul from April 19 to 20, 2011. Held under the theme of “Green SMEs: Champions of APEC’s new growth”, it was attended by 230 government officials, business leaders, academics and other opinion leaders from 15 member economies.

During his keynote speech, Muhamad Noor, Executive Director of APEC, noted that innovation is the engine that drives the Asia-Pacific region towards green growth. And small, medium and micro enterprises in the APEC region will in an excellent position to accelerate such growth. He also stressed the importance of the Daegu Initiative-a 15-year old innovation plan launched by APEC SME Ministers in 2005.

Fauziah Dato Talib, the lead co-chair of the ABAC SMME & Enterpreneurship Working Group, shared some of the challenges faced by SMEs. She noted that improved access to finance in the form of micro-financing would provide a viable solution, saying that finance constitutes a critical element in green growth. Enhanced information flow and technical support would also go a long way for smaller businesses that are struggling.

The two-day conference brought together SME policy makers and highgrowth SMEs to share and discuss green SME support policies and innovation

The two-day conference brought together SME policy makers and high-growth SMEs to share and discuss green SME support policies and innovation success stories. The event was intended to provide business opportunities through business meetings and discuss the future direction of the Green Initiative.

A major flow of investment in research produced a 30-fold increase in revenue since 2000. Add to that the supply contract with Chrysler, and the rising attention is not surprising. The secret behind the impressive success, as the company points out, is heavy investment in research and development. As a result, the company had gone without a surplus for more than twenty years.

The last presentation was made by Ji-seok Kim, who reported on the Green Initiative Framework on behalf of the APEC SME Innovation Center. The Green Initiative is a second cycle of the Daegu Initiative, an APEC funded project designed to promote green innovation in APEC SMEs by exploring collaborative possibilities among APEC member economies.

The conference had two goals:
* To discover latest success cases and discuss viable green development strategies.
* To offer up-to-date knowledge on how to expand intra- APEC green collaboration.

Especially captivating to attendees was a forum in which six SMEs in the green industry were invited to share their success stories. On the margin of the conference, a one-onone matchmaking event offered a window to explore business opportunities.

The Green Initiative is a second cycle of the Daegu Initiative, an APEC funded project designed to promote green innovation in APEC SMEs by exploring collaborative possibilities among APEC member economies.