Cultural Barriers to Achieving Open Innovation

The Business Wire website reported that as corporations seek greater revenues from working with entrepreneurs, large and small businesses are failing to use digital collaboration to innovate together, according to new research by Accenture. As a result, they are putting at risk a $1.5 trillion growth opportunity. The report, “Harnessing the Power of Entrepreneurs to Open Innovation” surveyed more than 1,000 entrepreneurs and 1,000 large companies in the G20 economies. Large companies and entrepreneurs agree that today’s corporate venturing and incubator models of collaboration will increasingly give way to more open and joint innovation, whereby corporates don’t just fund startups, but use digital collaboration to jointly create innovations in broader networks of partners.

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