How open is your Open Innovation?

How open is your Open Innovation?

on September 9, 2020

A growing number of companies apply Open Innovation. Their high expectations in search of the next big thing are often not met and their innovations remain incremental. One of the reasons might be that their Open Innovation is not open enough, as they only involve employees, their families and friends.

How can companies reach out to unusual suspects? How can they successfully integrate external stakeholders into highly specified, internal processes? What practical steps can they take when implementing Open Innovation methods?

Our guest in this week’s Responsible Innovation Story is Marcel Bogers, Professor of Innovation and Entrepreneurship at the University of Copenhagen and Senior Research Fellow at the University of California, Berkeley. For him, an open internal organization is key to leveraging the full potential of Open Innovation.

“Before opening up to stakeholders, you have to make sure that your business model is ready for integrating external knowledge.”

My most important insights from this interview with Marcel Bogers:

  • Over the past years, Open Innovation has strongly gained momentum in the business sector.
  • However, many companies struggle to effectively select and integrate external knowledge into their innovation processes.
  • Only if they establish an open internal organization, can they then use Open Innovation to its fullest – and help solving today’s grand challenges.

This article has been taken from the Living Innovation website. Follow the link below to the original post