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8 Open Innovation Prize Recipients: Where They Are Now
The Luminary Labs website noted that while the explicit purpose of an open innovation competition is to surface a winner, success can extend far beyond the timeline of the challenge. After conducting a survey of prize recipients, we have found that almost all (92%) of teams continued developing their solutions after the challenge, with some partnering
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Value creation and Value Capture in Open Innovation
The Journal of Product Information Management posted an abstract of a forthcoming article which noted that prior research on open innovation has mainly focused on collaborative inventing. However, understanding the processes and outcomes of joint inventing is not sufficient for understanding sustained
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Yonsei Creates Biomedical R&D Advisory Center
The Korea Biomedical Review website reported that Yonsei University Health System has created a research and development advisory center called ALYND to foster cooperation in the biopharmaceutical sector. The center will work to bring together industry, hospital, and academic officials to work towards
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Accenture Betting on Computer Vision in Asia
The WARC website reported that Accenture, the global consultancy, has formed a strategic alliance with and has invested in the computer-vision start-up Malong Technologies, in a move that hints at the company’s China growth strategy and its belief in the commercial application of AI. The deal is Accenture
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Effects of Collaboration Breadth and Depth on Innovation Performance
The Science Direct website posted a study which investigates the effect of collaboration breadth and collaboration depth on the incremental innovation performance of innovation projects. The analyses reveal inverted U-shaped relationships between collaboration breadth and innovation performance
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Societal Trust and Open Innovation
The Science Direct website posted a study which investigates whether societal trust—a key aspect of informal cultural norms—serves as an effective mechanism in improving relational governance among partners, thereby leading to better collaborative outcomes. The study shows that firms in high trust
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How to Create a Strategic Partnership to Spur Innovation
The Business to Community website noted that just as people are motivated by the company they keep, companies are influenced by the partnerships they embrace. Those hoping to innovate would be wise to look beyond their own walls and form partnerships with universities, startups, and other industry players. Working
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Establishing Open Innovation Culture in Cluster Initiatives
The Science Direct website posted a research paper which studied the performance of firms located in clusters. It examined inbound and outbound open innovation in terms of organizational culture in a geographic cluster. It found that agglomeration effects lead to higher trust and information asymmetries
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The Digital Personality of Financial Services
The BW Business World website noted that when a leading financial institution creates a core platform and opens it up for innovation by all or many, it tends to be driven by a strategic vision of that market leader and a willingness to accelerating innovation through open collaborations. This enables
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Innovation in the Open
An article on the Chemistry World website noted a trend in open innovation: rather than drawing start-ups closer to obtain their intellectual property, some firms are shifting to a more collaborative approach. This strategy foresees collaboration agreements, or business support, and subsequent shared
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