What Is Open Innovation?

The new leaders in innovation will be those who figure out the best way to leverage a network of outsiders – Gary Pisano, Harvard Business School

Diversity is key for a successful business.

In an increasingly networked world where the pace of innovation is accelerating, companies can no longer rely on internal innovation processes to compete. Open Innovation facilitates collaboration between a company and an enterprise, startup, individual, supply chain partner, university, or government entity.

Open Innovation allows companies to discover new opportunities, solve complex problems, and accelerate time to market.

Popular examples include the Netflix Algorithm Challenge, Exxon’s clean-up of the Valdez Oil spill, Kraft Foods Australia’s search for a new name for Vegemite, Dell’s open platform, and P&G’s infamous “Connect & Develop” initiative.

This November at the SIC, my class will explore the range of open innovation strategies that companies or institutions have used for successful results. You will also gain practical insights into what techniques work for you, and we will go through an implementation checklist designed to increase your chances of success.

Sign up here to learn more about what Open Innovation can do for you!

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