The Glocalization of Innovation

To remain globally competitive, it's necessary to engage smart people outside the organization and access the best ideas from anywhere in the world. But to create and realize new value through open and collaborative innovation, a more relationship-centric approach is needed. The glocal paradox of innovation involves nurturing both local and global networks simultaneously. Many regions and countries are embracing this technical, commercial, and cultural challenge, and examples include ColombiaCO4, Welsh, and Scottish governments, IQE, iMinds, and Alberta Innovates. This model is still emerging, and an integrative approach is required to address the challenges.