The Open Innovation Business Model

By • on August 18, 2013

The Innovation Excellence website noted that accomplishing sustainable, breakthrough innovations within multinational corporations is attainable using open innovation and innovation hubs. Open innovation blends a firm’s internal assets with the seemingly limitless knowledge pool outside of the firm. Open innovation allows companies to connect with companies and innovators who have  “ready-to-go”   products, services, or technologies, in order to minimize risk and to  circumvent  the  innate  inefficiencies often  found  in large corporate structures.

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