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Open Science and Open Innovation
The SSRN website posted an abstract of a chapter of the new book “Open Science and Open Innovation: Sourcing Knowledge from Universities” by Joel West and Markus Perkmann. The chapter investigates how firms work with universities in the course of their innovation activities. It provides an overview of three main modes of direct interaction
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Four Essential Steps Towards Open Innovation Success
The Creax website noted that although ‘open innovation’ is the talk of the town in R&D circles, leveraging external sources of innovation remains challenging for most companies. In 2013, researchers Dr. Joel West and Dr. Marcel Bogers suggested a four-phase model for inbound innovation projects.
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Disruptive Growth in the Digital Age
The InformationAge website reported that research indicates that large businesses expect the proportion of their revenues generated by collaboration with entrepreneurs to rise from an average of 9% today, to 20% in five years. This type of open innovation is ‘critical’ to future business performance
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Deloitte: Open Innovation Success Rate 3 Times Higher Than In-house R&D
The Knowledge website reported that the knowledge intensity and speed of biotechnology has shifted the locus of innovation to a network rather than within any single firm. This is causing pharmaceutical firms to look for new ways to tap into innovative sources of drug development outside their organizational
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What Kind of Innovations Do We Need to Secure Our Future?
The Journal of Open Innovation published a research study which concluded that the answer to the question of what kind of innovations we need to secure our future would be that open innovations would be what is most desired. Yet, as has also been discussed at length in the present paper, an open arrangement
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Theory of Open Inclusive Innovation
The Journal of Open Innovation posted an article which argued that the conventional understanding of open innovation theory is inadequate for dealing with emerging challenges in leveraging contingent conditions of climate risks, asymmetry of knowledge and power and lack of reciprocity and responsibility
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The Five Traits of a Most Innovative Company
The Australian Financial Review website reported a study that showed that open innovation, cross-functional collaboration, customer-centricity, dedicated “innovation time” and managers walking the talk have emerged as hallmarks of the most innovative companies. An increasing number of companies
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Small Investment in Innovation
The PRNewswire website reported on a new study which showed that while the C-Suite values innovation and recognizes it as integral for the success of the organization, few companies are organized to intentionally drive innovation and allocate resources and investments in order to accelerate the creation
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Team Characteristics Beneficial for Open Innovation Projects
The University of Turku website posted a study which discusses the importance of creating Open Innovation (OI) teams for optimizing costs of Research and Development (R&D), dividing risks and maximizing profits. The purpose of this study is to determine team characteristics beneficial for successful
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Network Analysis of Open Innovation
The Sustainability Journal website published a study of open innovation which noted that the way people innovate and create new ideas and bring them to the market is undergoing a fundamental change from closed innovation to open innovation. Why and how do firms perform open innovation? Firms’ open
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