While the idea goes back to the 60s, Henry Chesbrough, faculty director of the University of California’s Center for Open Innovation, coined the expression ‘open innovation’ in 2003. He defined it as ‘a paradigm that assumes that firms can and should use external ideas, as well as internal ideas, and internal and external paths to market, as firms look to advance their technology’.
The rise of open innovation
Just a little over two decades ago, engaging external stakeholders was a rare thing. Now, open innovation is trendy. Why is this? For a start, change has become the rule.
Open innovation and the fight for your audience
Apple, Lego, Philips, Samsung, IBM, GSK and, most recently, Tata Steel, among many others – all have adopted open innovation…
ELIS launches open innovation challenge for social and individual development
Associazione Centro ELIS, a non-profit organisation focused on preparing both young and adults for the labour market, is calling on…
Internal crowds have their say with open innovation
This is where our open innovation model draws a line to make a difference – we believe both external and…
Open innovation is no self-fulfilling prophecy
However positive and confident you and your company may be about developing your open innovation initiative, these benefits won’t just follow automatically.
What could possibly go wrong with open innovation?
Everyone understands the value and promise of open innovation in the business world – from brand awareness and customer engagement through to the search for fresh answers. But, truth be told, most programmes are failing to deliver results because their dynamics are too complex and the processes used are proving inefficient. A lack of relevance is also strongly affecting returns.
Exago partners with Altice Portugal in open innovation initiative
“Desafio Mar” is an initiative launched by Portugal Telecom, which uses Exago’s open innovation solution to create and evaluate innovation solutions and foster entrepreneurship in the field of Sea Economics.
Altice Portugal adopts Exago’s talent spotting solution
Altice Portugal recently started “The Talent”, an open project which uses an Exago’s solution to focus on new talent spotting. This project gives Exago’s software a new vision of open innovation and crowdsourcing, two determinants of long term value creation.