A Note on Corporate Open Innovation: Engagement with Startups

2021 ◽  
Vol 26 (2) ◽  
Author(s):  
Diana Joseph ◽  
Arthur A Boni ◽  
Dennis Abremski
Keyword(s):  
Best Practices ◽  
Business Model ◽  
Open Innovation ◽  
Research Study ◽  
Extensive Survey ◽  
Digital Medicine ◽  
Expert Interview ◽  
Innovation Strategies ◽  
Health Markets

This Note summarizes our findings based on an exploratory and initial global research study of best practices for organizations employing open innovation business model strategies. We utilized an expert interview approach to develop a survey that was taken during the Covid-19 pandemic. It was meant to assess open innovation strategies and tactics, particularly focused on partnering with startups and emerging companies. We worked with a cohort of Corporate Accelerator Forum (CAF) members (as experts), prior to a more extensive survey of corporations concerning their engagement with startups. Our experts included key leadership from Techstars, Bayer CoLaborator, and Illumina Accelerator. We plan a broader, more extensive survey of national and international companies as a follow up.  Our results highlight and provide commentary on current industry practices and trends during the Covid-19 pandemic, and have applicability to the biopharma, MedTech, and digital medicine/health markets.

Open Innovation Strategies in SMEs

2013 ◽  
pp. 281-293 ◽  
Author(s):  
Hakikur Rahman ◽  
Isabel Ramos
Keyword(s):  
Business Model ◽  
Value Chain ◽  
Open Innovation ◽  
Small And Medium Enterprises ◽  
Economic Gain ◽  
Innovation Strategies ◽  
Medium Enterprises ◽  
Financial Base ◽  
Partnership Approach ◽  
Corporate Business

Open innovation in entrepreneurships already finds its acceptance at all levels of the business industry for adding value to the business. The value could be in the form of economic gain or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years open innovation is also becoming increasingly familiar in small and medium enterprises (SMEs) and the trend is rapidly increasing. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the periphery of that value chain. This forms the basis of the current study. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, and other stakeholders.

The philosophy of “open innovation”

2016 ◽  
Vol 7 (2) ◽  
pp. 134-153 ◽  
Author(s):  
JinHyo Joseph Yun ◽  
KyungBae Park ◽  
JeongHo Yang ◽  
WooYoung Jung
Keyword(s):  
Information Technology ◽  
Business Model ◽  
Open Innovation ◽  
Design Methodology ◽  
Content Type ◽  
Logical Basis ◽  
Innovation Strategies

Purpose The purpose of this paper is to explore the ideological foundation of open innovation strategies and the open business model, which are appearing as new industrial paradigms based on information technology (IT). Design/methodology/approach First, this paper examined the ideological foundation of Deleuze, Whitehead, and Popper. Next, Taoism was scrutinized to discover concrete bases for open innovation. Findings Here, it was found that Taoism completely coincides with the logical basis of open innovation. The theory “the supreme good is like water” of Taoism means to vacate oneself and fill the space with others to create paradoxes, thereby filling oneself with a more creative method. Originality/value Taoism provides a way to present paradoxes through the idea of vacating and opening to reach a creative stage of leaving nature as it is.

scholarly journals CHALLENGES, CHANCES, ALTERNATIVES FOR SMES AND THE THEORY OF „DEGROWTH"

2017 ◽  
Vol XIX (2) ◽  
pp. 245-249
Author(s):  
Katalin Takacs-Gyorgy
Keyword(s):  
Best Practices ◽  
Social Relationships ◽  
Business Model ◽  
Open Innovation ◽  
Innovation Process ◽  
Strategic Thinking ◽  
Business Strategies ◽  
Strategic Partnerships ◽  
Sustainable Economy ◽  
Reallocation Of Resources

To be successful strategic thinking from SMEs is required, they have to give appropriate answers to the changes that fit and serve the sustainable economy. It is characteristic that SMEs concentrate mainly on surviving and on daily stability, yet – despite of the frequently mentioned idea – they realize the necessity of renewal, and they are fond of innovation. The question arose: what kind of business model do we need. Future means that the reappraisal of the values based on trust, reallocation of resources, social relationships, restructuring factors of production, localization, reuse and recycling must be implemented in business strategies, showing the direction of innovation. It is important to define the role and place of the SMEs in innovation process in the context of de-growth, like innovation – imitation. Synthesis – open innovation, observation and adaptation of best practices, cooperation based on trust, participation in strategic partnerships. In the study messages of sustainable economy and ‘degrowth’ is summarized. Answers are being looked for the question: what kind of behavior and strategies are appropriate for the SMEs for successful renewal.

Open Innovation Strategies in SMEs

2022 ◽  
pp. 137-162
Author(s):  
Hakikur Rahman
Keyword(s):  
Business Model ◽  
Value Chain ◽  
Open Innovation ◽  
Small And Medium Enterprises ◽  
Innovation Strategies ◽  
Medium Enterprises ◽  
Financial Base ◽  
Partnership Approach ◽  
Corporate Business

Open innovation in enterprises has already obtained its acceptance at all levels of the business industry for adding worth to the business. The value could be in the form of economic expanse or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm, various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years, open innovation is also becoming increasingly recognizable in small and medium enterprises (SMEs), and the trend is rapidly escalating. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the outmost periphery of that value chain. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, practitioners, and other stakeholders.

Open Innovation Business Models and Open Strategies: Features, Challenges, Development Prospects

2018 ◽  
Vol 2018 (1) ◽  
pp. 140-159
Author(s):  
Nadezhda Bek ◽  
Laura Gadzhaeva
Keyword(s):  
Business Model ◽  
Open Innovation ◽  
Business Models ◽  
Scientific Paper ◽  
Business Model Innovation ◽  
Future Research ◽  
Extensive Growth ◽  
Innovation Strategies ◽  
Open Business Models

The paper discusses the results of review of the business models innovation, open innovation business models and open innovation strategies. We reveal an increasing business attention and extensive growth of scientific paper in this field. We define positions of single authors about framework of components, parameters and relation business model innovation with open business models and open innovation strategies Based on existing literature, we illustrate that openness of business models innovation enhance the role of ecosystems, platforms, communities and other network forms in strategic management. The important avenues for future research in understanding and alignment business model innovation with effectiveness of creating and capturing value, business, innovation strategies and positioning strategies in digital transformation era.

scholarly journals Value Creation in Innovations Crowdsourcing. Example of Creative Agencies

2013 ◽  
Vol 4 (1) ◽  
pp. 72-103 ◽  
Author(s):  
Andrius Agafonovas ◽  
Raimonda Alonderienė
Keyword(s):  
Best Practices ◽  
Business Model ◽  
Value Creation ◽  
Open Innovation ◽  
Idea Generation ◽  
Extended Analysis ◽  
Motivational Model ◽  
Successful Business ◽  
Depth Interviews ◽  
Potential Customers

Innovations are crucial for most of the companies to survive. However, the concept of innovation has become broader, including new forms of open innovation, such as crowdsourcing. The aim of this paper is to define the business model of a crowdsourcing-driven organization to create value. Empirical research consists of case studies on current crowdsourcing platforms, focus groups with potential crowd members and in-depth interviews with potential customers of creative agencies. Best practices were combined with solutions for closing the most significant gaps in order to create a successful business model. The developed model suggests separating the crowd into free users and an empowered core team and enabling collaboration. Moreover, an innovative motivational model is introduced. Due to a three-step sequence of solution/idea generation, superior value is proposed to the customer. Another competitive advantage should be flexibility and adaptability to the customer’s needs. The paper is original since extended analysis of all crowdsourcing stakeholders is delivered. It also has practical value proposing a business model for creative agencies.

An introductory perspective on emerging, transformative technologies in biopharma: promises, challenges and impediments

2020 ◽  
Vol 25 (4) ◽  
Author(s):  
Arthur A Boni
Keyword(s):  
Business Model ◽  
Open Innovation ◽  
Model Transformation ◽  
Digital Health ◽  
Clinical Validation ◽  
Reduce Risk ◽  
Partnership Models ◽  
Start Ups ◽  
Health Markets

This article provides a top-level overview of some key challenges and potential solutions associated with the development and commercialization of innovative and transformative solutions to address identified needs in biopharmaceutical, MedTech and Digital Health markets. As the industry seeks to incorporate more diverse technologies, it is simultaneously transforming thru the formation of open innovation partnership models and collaborations amongst the various parties in the ecosystem, including start-ups and emerging organizations. Accordingly, organizational, or business model transformation is required to reduce risk, while providing for capital-efficient development, clinical validation, and commercialization. We also address the need for an ethical and transparent approach to align the interests of all parties in the healthcare ecosystem and to achieve affordable pricing of the resultant solutions. 

scholarly journals Open Innovation Strategies in SMEs

2011 ◽  
pp. 224-237
Author(s):  
Hakikur Rahman ◽  
Isabel Ramos
Keyword(s):  
Business Model ◽  
Value Chain ◽  
Open Innovation ◽  
Small And Medium Enterprises ◽  
Economic Gain ◽  
Innovation Strategies ◽  
Medium Enterprises ◽  
Financial Base ◽  
Partnership Approach ◽  
Corporate Business

Open innovation in entrepreneurships already finds its acceptance at all levels of the business industry for adding value to the business. The value could be in the form of economic gain or enhancement of knowledge leading to a sustained financial base. Open innovation adopts various strategies to accomplish the task for enhancing the value gain. Varying by size, nature, pattern, or characteristics of the firm various strategies are being adopted by enterprises. Though largely known to be familiar in corporate business houses, in recent years open innovation is also becoming increasingly familiar in small and medium enterprises (SMEs) and the trend is rapidly increasing. However, despite the potency of open innovation strategies, most of the enterprises are yet to find a sustained business model, especially for the SMEs working at the periphery of that value chain. This forms the basis of the current study. This chapter is trying to formulate a business model incorporating partnership approach from academia, research houses, intermediaries, and other stakeholders.

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