Product Innovation in Equestrian Sports - A qualitative multiple case study about how product innovation evolves in the Swedish equine industry

Abstract

Innovation in the equine industry has been seen as existing to a very little degree since many of the activities surrounding the horse have been looking the same during the last decades. At the same time, half a million people in Sweden are horseback riding and additionally half a million people are in contact with horses regularly. This means that it is possible to expect that there is a lot of potential for innovation. Based on that information, this study aims to investigate how product innovation evolve in the Swedish equine industry. This has been done by using a qualitative multiple case study, including desk research to identify the dynamics of the equine industry, interviews with four experts as well as interviews with three case companies that is considered to pursue an innovative idea. The analysis of the empirical findings leads to the conclusion that product innovation evolves from independent start-ups that possess market, business and technological knowledge. They are financed in a few different ways, but common for all of the case companies is that they all are to some extent backed by external funding and have had no issues with finding access to funding. Moreover, the key informants together with the case companies agree upon the large potential of innovation still remaining in the equine industry, leading to many potentially innovative ideas that remains to be realized.