Racing cycle producer Ridley wins Flemish award for social innovation

Based on a survey among 2 000 businesses, the Erasmus University in Rotterdam established that social innovation constitutes 80% of the innovative strength of Flemish businesses. “According to the researchers, the innovative strength of businesses with a flexible organisation, dynamic management and clever work ethic is 41% above the average,” says Flemish Innovation Minister Ingrid Lieten SP.A. They are also in a better position 22% to attract new clients, and enjoy a faster growth in respect of market share, turnover and profit as well as a  20% happier staff. For this reason Lieten has included social innovation as one of the six drivers of her innovation policy. At a major innovation event held yesterday in Ghent, she honoured the racing bicycle manufacturer Ridley from Beringen with a social innovation award after the University of Rotterdam rated its management skills and its flexible and modern HR policy as above average. The Ridley approach is to encourage its 58-strong staff to be passionate about race cycling, and guarantees a better final product by giving them ample confidence and space, HRM director Marc Hufkens explains.