Open innovation: Great Way to Boost Economies

By • on May 16, 2015

The Wales Online website noted that it is clear that many businesses cannot afford to rely entirely on their own R&D but need to buy or license ideas or inventions from other knowledge-based organizations if they are to prosper. Indeed, it is absolutely crucial for an economy that innovation is not stifled and that knowledge is transferred into those organisations that are in a position to maximise its potential. And there is certainly a role for policymakers to shape the environment in which open innovation can thrive.

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