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Open Innovation

Open innovation is a business management model which says that big corporations should start learning from start-ups' experience and look externally for new ideas and innovation. This concept was created by Henry Chesbrough in 2003 and explains the modern collaboration with bright professionals from the outside of the company.

 

Open Innovation

Organizations can implement the open innovation concept in several ways: alliances between companies, research chairs in universities, crowdsourcing competitions, and innovation ecosystems.

You may define open innovation by two criteria 

Levels of inclusion:

  1. Intracompany (communication between teams and departments inside one organization)
  2. Intercompany (communication between two or more different companies)
  3. For experts (communication with professionals outside the company)
  4. Publicly open (communication with all interested parties regardless the knowledge or social status)

 

Purpose of use:

  1. Marketing (information gathering about niche products)
  2. Gathering insight (valuable information on the area, market, or customers)
  3. Finding talent (head hunting and talent scouting)
  4. Research and development (the most common type)

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