Open Innovation: Has Its Time Finally Come?

The Gilbert+Tobin website reported that the European Union is betting big that ‘Open Innovation’ will be the engine of growth for the digital economy: “We believe that the intersection of mega-trends such as digitization, mass collaboration, and sustainability needs is creating a unique opportunity to enable an explosive increase in shared value due to innovation…. In today’s complex world, experiments simply cannot be conducted in isolation. Collaborative research will accelerate the innovative process and improve the quality of its outcomes. While closed-world innovation will not disappear, it will be dwarfed by the efforts of teams that enable a wide spectrum of stakeholders to take on active roles.”

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