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Open Innovation is necessary Resources in the traditional ecosystem of a company appear to be insufficient for many industrial or business needs . Open Innovation is the paradigm according to which companies need to use external ideas, knowledge & technologies to advance their businessi. In particular, Open Innovation allows accelerating innovation by using most relevant external expertise and maximizes cross-fertilization between industries and between disciplines. There is a need for intermediaries In the context of Open Innovation, there is an increasing need of intermediaries to facilitate the connection between companies and external resources.
Hypothesis: If Pittsburgh knew what Pittsburgh knew, it would be unstoppable. The amount of research and development talent in Western Pennsylvania -- in universities, government-sponsored research enterprises, and corporate R&D facilities, not to mention small labs, garages, and studios -- is extraordinary. There are an awful lot of great people in town doing an awful lot of great, innovative work. But too often, they don't know each other, and for want of collaboration, great innovations go undeveloped or are underdeveloped. Innovator #1 and Innovator #2 may each have a critical piece of an innovation marriage made in heaven -- but those two people may occupy different innovation spaces altogether.
What ROI at what RISK? – every investor’s top question! With respect to open innovation, the same question gets rephrased as below … a) What is the cost of doing ‘open innovation’ vis-à-vis strictly ‘in-house innovation’? b) Opening up for innovation is new for me, and new things carry more risk, can I predict my return-on-investment? c) How can I have a control over people not on my payroll?
Change often feels anything but easy … Ever ask with that popular poster, How can you fly with eagles when you work with a bunch of turkeys? It feels as if your brain is hard-wired more for chipping away at endless daily routines that tank your talents. You suit up to lead lofty adventures, yet too often ruts keep you pecking away like turkeys, day after day. Do you ever wonder why you slide back so easily into doing the same boring things that spin your wheels but go nowhere?
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