In an era of digital business and rapid technology change, of market disruption coming from unexpected industries and geographies, no company can ignore the imperative to innovate faster. Failing to do so is an invitation to lose business and to put growth and their future at risk.
Almost ten years ago we organized a workshop on “Open Innovation in a Globalised World” for DG Enterprise and Industry. Some of the conclusions still are worth to be kept in mind for further discussions and policy development in support of open innovation.
“An appropriate mix of regional policies, science and technology policies and industrial policies is needed to support open innovation. This calls for improved coordination of these different policy areas.
There are many standards that can be of use to the open innovation practitioner, some are part of the general business landscape, because they contain technical requirements necessary for the production of some products and services, some because they provide a good management framework which can help businesses work more efficiently and effectively. There are two however that are directly relevant to open innovation: those covering innovation and collaboration management
As discussed in previous INVITE‘s blog post, innovation is seen as one of the most important concerns of every organisation and therefore constituting a critical success factor for it. However, the current landscape of highly competitive and dynamic business environment makes innovation more challenging in terms of risks and costs.
Innovation is one of the most important concerns of every organisation and thus constituting a critical success factor for them. Nowadays, innovation actors open-up their innovation processes and establish collaborative innovation models with external partners, creating the new era of innovation, the so called Open Innovation (OI). In general, OI denotes innovation processes that are not solely bound to internal R&D departments. Open innovation processes cross the boundaries of organizational units and involves new types of players in innovation activities.
Baden-Württemberg is one of the most innovative regions in Europe. Numerous inventions from these region has truly transformed the world. These include outstandingly, the automobile, which was invented in 1886 in Stuttgart and the bicycle, which is nowadays shifting the way people move in countless European metropoles to overcome traffic jams. Even more, many other everyday items such ring binders, matches, photocopiers, dowels, the electrical drill and even the ski lift are inventions of this region.