Opening-up your innovation processes to get the best benefit: Get the best ideas, the input of your customers & partners and create a market for your products and services!
Added value and time horizon
Added value: Make use of swarm intelligence, collect ideas and feedback, involve customers and partners, create new markets, launche campaigns!
Time horizon: Short to medium term
Use the variety of ideas in the world! Targeted and structured for your challenges.
- Gather ideas for new products & services. Integrate your customers early in the innovation process. This creates customer loyalty and satisfaction and increases quality and market success
- Benefit from the knowledge of your suppliers and external partners. Your daily processes get more lean
- Start campaigning for topic areas and analyze the diversity of approaches and perspectives
- Combine your know-how with the knowledge of the outside, then you are faster, cheaper and more successful in the market!
- Make your knowledge available and establish a market around your products and services
- The world honors your ideas: Initiate crowdfunding or award the best ideas
Open Innovation is diverse and very widely applicable. Whether as a corporation, SME, founders or private individuals. The Open Innovation Strategy & Implementation should be in line with its goals and values and integrate into its processes.
The term open innovation describes a system in which innovations are not generated within closed boundaries, such as within a company, but innovations are carried out in a cooperative process with external actors. According to Chesbrough and Crowther (2006), open innovation is the “use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. […] firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology” Thus, Open Innovation contrasts with Schumpeter’s principle of innovation (1942), which is based on the exclusivity of an innovation.
Open innovation has been driven by globalization and by faster (and more complex) product cycles. Open Innovation also opens up a new market for own, unused innovations. A prominent example is DuPont s plastic innovation polytetrafluoroethylene, which was developed for space travel and is now used to coat Teflon pans.
3 core processes for open innovation:
Gassmann and grandchildren describe three core processes of open innovation:
- Inside-Out Process: The opening of internal knowledge (see the example of DuPont). Royalties for own innovations, which the company cannot use, contribute to the stabilization of the operative business.
- Outside-In Process: External knowledge is used for the own innovation process. The knowledge of customers, suppliers, external partners or even the public should contribute to speeding up the innovation process and at the same time achieving the highest quality.
- Coupled process: This process is the connection of the inside-out process with the outside-in process. External knowledge should be used for the innovation process and at the same time the externalization of innovation should initiate a market around this innovation.