Bridging Minds And Building Networks

By • on October 2, 2018

The Asian Scientist website noted that innovation does not happen overnight—it takes a convergence of talent and resources to pull off, and not every company can afford to carry out research and development (R&D) on its own. This is where open innovation can help businesses improve their productivity and potentially break into new markets to expand their client base. In today’s highly competitive business environment, time to market is very important. Open innovation helps an enterprise access the technologies and expertise it lacks to accelerate its innovation cycle and capture the market more quickly. In addition, collaboration with external partners allows businesses to de-risk their R&D and reduce costs.

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