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Through open innovation, companies can share intermediate phases of the innovative process with other companies or take on a specific phase within it. They can also share innovative ideas, patents, technologies and products that they could not develop on their own.

Open innovation starts from the idea that there is much more talent outside an organization than inside and that to take advantage of this external value, the necessary mechanisms must be activated.

By sharing knowledge and innovation processes, research costs can also be shared, facilitating an optimization of the resources available for this purpose.

More and more companies are currently developing innovative products thanks to the participation of external collaborators. In fact, it could be said that no company is large or innovative enough to be a leader in innovation without the help of external collaborators. In fact, organizations that show best practices in innovation produce almost half of their innovations from ideas generated abroad.

The emergence of a much more open innovative environment and the speed and disruptive capacity of the changes force us to rethink innovation policies. The dynamics of today are very different from those of a few years ago. An obvious example is the digitalization process, which is transforming the nature of innovation.

Technology is only one of the multiple factors of innovation. Other factors, such as business vision and corporate leadership about the use of technologies are also decisive.

The speed of the changes means that innovation planning has to adapt and adjust continuously more quickly. On the other hand, organizations are increasingly looking for external creative individuals that contribute to their innovative process rather than senior technology executives. In addition, innovation, especially non-technology, does not always come from science, but from circular processes in which creativity, error-proof and scientific analysis interact with each other.

>> Related links:

Open innovation: the new imperative for creating and profiting from technology

Europe's future: open innovation, open science, open to the world

Open innovation 2.0 yearbook 2017-2018

Open innovation: benefits for SMEs



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