Inbound, Outbound Open Innovation

By • on December 21, 2015

The IPCG website noted the two directions of open innovation. For more than a decade, firms have focused much of their open innovation (OI) efforts on one direction – inbound OI. Few firms employ outbound OI approaches. However, the outbound direction of OI, while arguably less intuitive, offers a number of opportunities for firms to capture value from either internally generated or acquired innovation. In other words, outbound OI seeks to improve returns on underutilized assets, such as internal innovation or acquired R&D.

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