Nerac

Information That Drives Innovation

We’re here to help with your research needs
+1 860 872 7000
Customer Access
  • Home
  • What We Do
    • Nerac IPDex™
    • Innovation Insights and Consulting Practice
    • Regulatory
    • Medical Device and Life Sciences
    • Technology Scouting and Innovation
    • Market Research
    • Intellectual Property
    • Commercialization Services for TTOs and Start-Ups
    • Critical Updates
  • Who We Serve
  • How to Engage
  • Why Nerac?
  • Meet our Team
    • Leadership Team
    • Our Analysts
    • Our Partners
  • Nerac Insights and Publications
    • Articles
    • Case Studies
    • Press Room
    • Videos
    • Webcasts
    • White Papers
  • Contact Us
You are here: Home / Nerac Insights / White Papers & Reports / Open Innovation: Facts, Fiction and Future

Open Innovation: Facts, Fiction and Future

Facebook0
Google+0
LinkedIn6
Twitter0

Originally published November, 2009

Executive Summary

Open innovation offers a significant opportunity to leverage intellectual resources from outside the company. In fact, despite the number of resources available internally, the very largest companies have the greatest need for open innovation because of a natural tendency for institutionalized thought associated with any large entity.

Beyond just another business fad, open innovation attempts to create new sources of ideas and solutions with the potential of influencing every aspect of business activity. However, open innovation is often ill-defined, and as a result, implementation can create confusion. Oftentimes, corporate culture and policies need to change for open innovation to succeed.

To make the most of open innovation, companies should integrate it into all stages of activity, from early-stage product ideation and R&D to late-stage marketing and sales. Companies will realize the greatest benefit by maximizing open innovation in all stages of business activity. This expansion of scope calls for more strategic thought on how innovation networks are built and how they function.

Want to read the rest of the article? Fill out the form to download: Open Innovation: Facts, Fiction and Future
Get Download Link

 

Related Posts

  • Scouting for Innovation: Global Benchmarking Study
    84
    Originally published September, 2009 Executive Summary In many industries, innovation is generally recognized as a critical ingredient for corporate success. Until relatively recent times, most companies used internal research and development as their only method of innovation. However, companies are now proactively considering all sources of innovation, both internal and external, to remain competitive. Many…
    Tags: innovation, scouting, companies, technology
  • Six Tips for Effective Technology Scouting
    76
    By Kevin Closson, Nerac Analyst, Originally published June, 2013 One of the most pressing issues for companies big and small, in every industry, is the need to stay relevant in their markets. Innovation is rightly seen as the chief way to achieve this goal. It is also widely acknowledged that innovation cannot be the only province…
    Tags: companies, innovation, technology, scouting
  • The Making of an Innovation Environment: Five Keys to Profitable Technology Development
    76
    By Rosemarie Szostak, Ph.D., Nerac Analyst Originally Published: August 26, 2014 Innovation is not a buzzword - it is critical to any company that wants to compete in today’s marketplace. If you really want to innovate you need to understand what it takes, on the management level, the team level, and the information level. This…
    Tags: innovation, technology, open
  • Case Studies
  • White Papers
  • Webcasts
  • Articles
    • Nerac Strategist
    • Energy
    • Food & Nutrition
    • Intellectual Property
    • Regulatory
    • Technology & Innovation
    • Medical Device & Healthcare
    • Pharmaceutical
    • Engineering
    • Market Research
    • Critical Alerts
    • Chemistry/Advanced Materials
  • Press Room

Click here to learn more about….

3d printing advanced materials aerospace Ask Kevin Videos biotech CFDA clinical literature evaluations commercialization strategies competitive intelligence Disruptive Technologies emerging markets energy EU MDR FDA food helga weires Industry 4.0 innovation Inspiring Next intellectual property intellectual property strategies IP market analysis market research medical device medical devices nerac Nerac client questions Nerac Strategist notified body audit open innovation Order 650 patenting strategies patent landscape pharmaceutical Post-Market Surveillance R&D regulatory regulatory compliance Robert Beinstein Rosemarie Szostak specialty chemicals Sustainable Development Goals technology scouting XcellR8
  • Facebook
  • Google+
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
  • Career Opportunities
  • Privacy Policy

Copyright © 2023 Nerac · One Technology Drive · Tolland, CT 06084 · 1.860.872.7000

Sign Up for the Nerac Strategist

Like what you see? Sign up here to receive the Nerac Strategist newsletter, a compilation of analyst insights on rapidly developing industry issues, compliance challenges and commercial opportunities!
  • This field is for validation purposes and should be left unchanged.