How to build successful community open innovation networks

Collaborative Innovation Networks (COINs) have become increasingly popular in the age of the Internet, particularly in the bioscience and health sector. However, questions remain about their effectiveness in creating lasting impact, security, commercial and clinical validity, legal status, and sustainability. Building successful COINs requires strong leadership, a viable business model, innovative marketing, community building, and a sustainable competitive advantage. COPINs (collaborative open innovation networks) are even more effective and require a compelling value proposition, a communication plan, metrics and a dashboard, leadership, network engagement and advocacy, innovation, branding, and a sustainable competitive advantage.