Quantification of Investment Degree in Innovation in SMEs and Their Influence on the Production Function

Innovations reach the market in the way of technology, technology or management method, contributing to a more efficient use of production factors, to the differentiation of products in organizations that adopt them and, consequently, to the achievement of competitive advantages. The objective of this work is to identify and know the level of adoption in terms of innovation in Small and Medium Companies, suppliers of the mining sector, and their contribution to the economic growth of its region. To know the adoption levels of the companies, the Cox proportional hazards model will be used, which will allow to know the time taking to adopt some type of innovation and the probability that the organization will incorporate it in a certain period of time. The results obtained show that the average duration that SMEs take to make the adoption of innovation since they are considered as potential adopters is 4.34 years. This paper aims to provide guidelines so that the improvements made to companies in favor of efficiency are made earlier, that is, the delay in adoption is the minimum.