"Innovation in Traditional Sectors: A Case Study of Ekofungi's Impact on SMEs in Serbian Agriculture"

This thesis examines the role of innovation in traditional industries through the case study of Ekofungi, a pioneering SME in Serbia's organic mushroom production. It investigates how small and medium-sized enterprises (SMEs) in Serbia and similar emerging economies can adopt Ekofungi's innovative practices to overcome barriers and foster growth, achieving international significance. The research focuses on Ekofungi's innovative strategies for sustainability and growth, their methods to overcome innovation obstacles despite financial limitations, and the applicability of these strategies to inspire other traditional sector SMEs towards innovation. Using a qualitative case study method, the study delves into Ekofungi's innovation ecosystem, demonstrating its commitment to circular and sustainable production, positioning it as a model circular enterprise with international recognition. The methodology includes a literature review on innovation in traditional sectors, market research in Serbia's agriculture, and direct inputs from Ekofungi's founder alongside surveys and internal company documents to underscore Ekofungi's innovation impact. The findings indicate that Ekofungi's innovation model and know-how transfer services are adaptable across various contexts, providing a potential path for other SMEs to achieve sustainability and innovation-led growth. Despite its focus on a single case and data collection challenges, the research contributes to understanding how SMEs can leverage knowledge, collaboration, and circular economy principles for economic and sustainable development in traditional industries.