Igniting Innovation—Yang Wenxin Of WisQo

The Asian Scientist website reports that open innovation has helped IoT solutions provider WisQo to develop new products that address market needs. Founder Yang Wenxin said in the beginning, we used to develop IoT solutions based on our own market knowledge. However, we began to realize that other more mature companies in the industry may understand the market demands better. By partnering with these industry players—engaging in open innovation—we were able to gain insight into how to solve market problems with our technologies. Finding the right industrial partner to participate in open innovation can greatly expedite the innovation process. The right partner should be able to advise on potential pitfalls that your company may face, which can help to channel R&D and production efforts in the right direction, helping the company become more efficient.

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