Types of Open Innovation

Types of Open Innovation

As businesses strive to boost innovation, many have turned to open innovation as a solution. This article breaks down open innovation by purpose - research and development, insight, marketing, and talent - and target audience - intracompany, intercompany, publicly open, and for professionals. By cross-referencing these dimensions, the article presents 12 different types of combinations for open innovation. The article also offers guidelines for getting started with open innovation, such as picking goals, choosing the appropriate audience, planning and executing strategic pilots, and ensuring continuity. Overall, open innovation can be a complex but useful tool that requires a continuous improvement process to achieve success.

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