Open Innovation: A Bright Spot Amid Economic Gloom

By • on September 22, 2011

An article on Composites World website notes that there is one positive phenomenon that grew up in the economic bubble and has, thus far, to the eventual benefit of all, survived it. It’s called open innovation. In the open innovation concept, industrial companies, government agencies and technical universities pool funds and other resources to expedite precompetitive research, often research of a very basic kind, often without a clearly defined destination in mind. Unlike stimulus programs, bailouts and traditional government job-training schemes, it gives willing governments a tool for stimulating the economy that has built-in potential to pay its own way.

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