Why Some Companies Are Externalizing Breakthrough Innovation

By • on November 16, 2018

The Irish Tech News website noted that open innovation is well established, but how many companies are prepared to outsource the whole innovation effort? Some companies are already paving the way and reaping the benefits. By now all companies have got the message that effective innovation needs an “ecosystem” of partners. A good innovation ecosystem for a large company might include suppliers, specialist service providers, universities, start-ups, research institutes, funders, customers and, in certain cases, peers or competitors. But in most cases, companies use their ecosystem partners merely as contributors to their innovation processes – co-innovators, maybe, but the overall process remains firmly under the control of the company.

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