Mattel Embraces Open Innovation

By • on July 6, 2017

The Inc. website noted that toy industry leaders have largely practiced a limited form of open innovation by relying on intermediaries and maintaining a guarded attitude toward outsiders. However, that’s changing. Mattel teamed up with ABC to launch  The Toy box, a reality television show in which toy inventors compete to have their idea licensed by Mattel. The show’s success may have propelled the toy maker to embrace open innovation more fully. Because not only did Mattel uncover one great idea — it happened upon three! The company chose to bring two additional products featured on the show to market.

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Image via Flickr.

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