The Benefits of Open Innovation
The World Economic Forum website noted thaT In a more connected world, open innovation offers opportunities to reduce research costs, spread risks and bring innovations to market more quickly. This approach has yielded significant benefits in many fields, including healthcare, IT business models and public policy. In the IT and software industries, open innovation has meant that companies license one another’s software to build new types of products. Governments are also embracing the open innovation paradigm.
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