Open Innovation Insights from Experts Paul Germeraad and Wim Vanhaverbeke

Open Innovation is a rapidly evolving methodology for accelerating new product development. Rather than developing innovations and new technologies secretly in a corporate laboratory, firms embracing Open Innovation actively seek new ideas from outside the firm and actively solicit ideas for their toughest challenges. According to Wikipedia: The central idea behind open innovation is that, in a world of widely distributed knowledge, companies cannot afford to rely entirely on their own research, but should instead buy or license processes or inventions (i.e. patents) from other companies. Companies who have successfully implemented Open Innovation programs include AkzoNobel, P&G and GE. Paul

Continue reading »