Are You Open to Open Innovation?
The MDDI website reported that Pfizer and the Institute of Pediatric Innovation organized an open innovation (OI) competition in hopes of addressing an ongoing challenge: administer multiparticulate medicines to children more easily. HS Design, a design firm specializing in medical devices and life sciences, entered the competition and ended up not only winning the program but taking its innovation further toward commercialization. The experience not only served HS Design, but it also exemplifies how OI programs could help launch medical advances. OI programs can help tackle two different types of challenges, says Tor Alden, Principal of HS Design: “Tough problems and underserved problems.” OI enables programs to “leverage several smart minds all at once and generate as many ideas as possible,” he explained. Such programs foster what Alden called “healthy collaboration, with the understanding that we’re competing with other firms.”
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